In September 2026, total assets of the Pension Fund of Georgia exceeded GEL 10 billion. The Fund’s assets comprise GEL 7.0 billion in contributions from participants, employers, and the state, and GEL 3.0 billion in investment income.
The Pension Fund of Georgia has been operating since January 1, 2019. Since its inception, the cumulative nominal return reached 113.8%, while the real return adjusted for inflation has amounted to 40.5%. The annualized returns are 10.4% and 4.5%, respectively. In terms of real returns adjusted for inflation, the Fund ranks 4th among OECD countries.
The Pension Fund manages three investment portfolios with different risk profiles, allowing participants to choose the option that best suits them. The Balanced (medium-risk) and Dynamic (high-risk) portfolios were established in August 2023. From their inception through August 2026, all three portfolios have delivered strong returns:
🔹 Dynamic Portfolio – cumulative nominal return of 50.9% and inflation-adjusted real return of 34.2% (annualized nominal return: 14.3%; annualized real return: 10.0%);
🔹 Balanced Portfolio – cumulative nominal return of 46.2% and inflation-adjusted real return of 30.0% (annualized nominal return: 13.2%; annualized real return: 8.9%);
🔹 Conservative Portfolio – cumulative nominal return of 41.4% and inflation-adjusted real return of 25.7% (annualized nominal return: 11.9%; annualized real return: 7.7%).
S
