Tracking Progress - One Reform at a Time

Reform: Pension Reform (2017-09-27)

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The reform is implemented by the Ministry of Economy and Sustainable Development, also the Ministry of Finance and the National Bank of Georgia

According to the Government

Concept of Georgian Pension Reform

The government’s formal progress (at the input and output level) in the target reform area is measured through a survey covering the following four dimensions:

  1. Institutional Setup
  2. Capacity Building
  3. Infrastructure & Budgeting
  4. Legislation & Regulations

The sets of indicators are designed to track progress on each dimension towards the system envisioned in the reform strategy. They cover all fundamental actions that have to be executed to create an optimal environment that will help achieve all reform objectives. Completion of all actions indicates achievement of the desired policy framework.

The sets of indicators captured by the questionnaires are used to measure distance from the stated reform objective on a scale from 0% (no action has taken place) to 100% (all desired systems are fully implemented, monitored and evaluated).

The questionnaires are filled out twice a year through face-to-face interviews with representatives of all agencies involved in the implementation of a particular reform.

According to the Stakeholders

The reform was evaluated by the Stakeholder Group with a score of 3.97 out of 10. It was underlined that the reform concept was changed many times, and the stakeholders were not aware of the final concept of the private pension savings (II Pillar) system, as well the indexation mechanisms of social pensions. According to the Ministry of Economy, the draft law on private pension savings will be published in the first week of October.

Each reform is evaluated, twice per year, by a group of stakeholders – at least 15 individuals not affiliated with the responsible agency, but directly affected by the reform.

The entire group of stakeholders are convened at ISET in order to review the results of the government survey, as well as objective data and information about reform outcomes, which are collected and analysed by the Project Team.

Each member of the group provides an anonymous quantitative assessment of the reform by answering the following questions:

1. What is your assessment of Georgia’s current performance in this area of reform?

2. Is the economic reform agenda progressing as expected?

3. Is the reform likely to deliver adequate results?

The total score for each reform is calculated as a simple average of individual assessments.

The overall assessment of the reform process is automatically provided through the ReforVerdict – a summary score, derived as a weighted average of scores assigned to each reform. The ReforVerdict score is adjusted on a monthly basis, following monthly stakeholder meetings.

  • Irakli Kirtava

    Galt&Taggart

  • Andria Urushadze

    TCPA

  • Tea Gvaramadze

    Ministry of Health and Labour

  • Giorgi Tatishvili

    Aldagi BCI

  • Irakli Elashvili

    TBC Capital

  • Mikheil Kordzakhia

    Georgian Employers Association

  • Norberto Pignatti

    ISET

  • Devi Khechinashvili

    Association of Georgian Insurance Companies

  • Ketevan Buadze

    Georgian Lawyers for Independent Profession

  • Ketevan Lapachi

    IBSU

  • Marina Guledani

    CFS Investment Bank

  • Irina Kvakhadze

    Business Association of Georgia

  • Giorgi Chanturidze

    Trade Union

Outcomes

Objective and quantitative data reflects reform outcomes to be used as a proxy for reform effectiveness.