Legal Framework of Non-state Pension Insurance in Georgia and other countries

Abstract

This article examines the legal framework governing non-state pension insurance in Georgia and compares it with international models to highlight best practices and areas for improvement. It analyzes the development, structure, and regulatory oversight of private pension schemes, focusing on their role in supplementing public pension systems and enhancing financial security for retirees. The study explores key legislative instruments, the role of supervisory authorities, and the level of participation in non-state pension plans. Through comparative analysis with selected countries, including those with mature pension systems, the article identifies regulatory gaps and suggests policy recommendations for strengthening Georgia’s legal and institutional pension insurance framework. The findings aim to support legislative reform and promote sustainable, transparent, and inclusive pension markets.