Funded pension system of Georgia and its legal regulation mechanisms

Against the backdrop of the financial, demographic, and economic challenges facing the modern civilized world, the increase and aging of the population, the rise in life expectancy, and the activation of migration processes, it is especially relevant to research issues related to the perfection of the pension system in any country, including Georgia. The pension system is one of the primary mechanisms determining the well-being and quality of life of the elderly population. In Georgia, it is a significant tool in the fight against poverty. The working-age population in our country has significantly decreased due to the decrease in birth rate and migration. At the same time, the number of pensioners rose, and the length of retirement age increased, which further aggravated the problems related to pensioners' social security. Based on statistical data, the current state of the Georgian pension system and legal issues of pension asset management are studied, and recommendations are presented to perfect the state policy and introduce a high standard of social guarantees for employees in the country. For the proper functioning of the cumulative pension system operating in Georgia, it is significant that according to the law "On Cumulative Pension," pension benefits are distributed equally among citizens so that it fulfills the function of a social security mechanism and promotes economic stability.