saqarTvelos sapensio politika
da alternatiuli modelebi
309
xelfasis 291% 2009 wels
9
) Senatanebi ar ganxorcieldeba. dam-
saqmebeli ar aris valdebuli ganaxorcielos Senatani momuSa-
vis sasargeblod.
2008 wels SemoRebul iqna nebayoflobiTi profesiuli sa-
pensio sqema, romelic warmoadgens xelSekrulebas dasaqmebul-
sa da damsaqmebels Soris, romliTac damsaqmebeli axorcielebs
sakuTari muSakebis sapensio uzrunvelyofas.
2002 wels miRebuli kanonis mixedviT, TiToeuli damfuZne-
beli valdebulia SesTavazos monawiles ramdenime tipis fondi,
romlebsac Sesabamisad ewodebaT A,B,C,D,E. es fondebi erTmane-
Tisgan gansxvavdebian riskis mixedviT da Tanxebis proporciiT,
romelTa ganTavsebac SesaZlebelia fasian qaRaldebSi (aqciebi)
da naklebad sarisko fiqsirebuli Semosavlebis mqone instru-
mentebSi (sabanko depoziti, saxelmwifo fasiani qaRaldebi). mo-
nawileebs aqvT am fondebidan nebismieris arCevis Tavisufleba.
gamonakliss warmoadgenen pirebi, romlebsac 10 da naklebi weli
darCaT pensiamde, maT aqvT mxolod naklebad sarisko fondebze
(C,D,E) xelmisawvdomobis ufleba. am regulaciis mizania daic-
vas asakovani momuSaveebi danakargebisgan, romelTa anazRaure-
bac rTuli iqneba pensiaze gasvlamde mcire drois gamo. vinc ar
airCevs fondis tips, avtomaturad CaerTveba Sesabamis fondSi
misi asakis mixedviT da rac ufro asakovania monawile, miT uf-
ro naklebad sarisko fondSi moxdeba misi gadanawileba.
10
dasaq-
mebulebs Tavisuflad SeuZliaT erTi fondidan meoreSi gadas-
vla. arsebobs SezRudva fondis aqtivebis ucxoeTSi investire-
basTan dakavSirebiT da Seadgens 80%-s.
fondebi unda akmayofilebdnen momgebianobis kriteriu-
mebs. kanoniT dawesebulia minimaluri sainvesticio mogebis
moTxovna, romelic efuZneba yvela fondis saSualo momgebiano-
bis maCvenebels. im SemTxvevaSi, Tu fondi ver daakmayofilebs
aRniSnul moTxovnebs, moxdeba misi likvidacia da aqtivebi sxva
9
Pensions at a glance 2011, retirement income systems in G20 and oecd countries,
OECD, 2011, p. 208
10
Chile, review of the private pensions system, OECD, 2011 http://www.oecd.org/finance/private--
pensions/49497472.pdf p,17-18
jaba urotaZe
310
fondSi iqneba gadatanili, am SemTxvevaSi saxelmwifo dafaravs
monawileTa danakargebs.
11
fondebis aqtivebi gancalkevebulia
im kerZo firmebis aqtivebisgan, romlebic qmnian da marTaven
aRniSnul fondebs, amitom am firmebis gakotrebis SemTxvevaSi
fondis Tanxebi xeluxlebeli darCeba da ar moxmardeba kredi-
torebis moTxovnebis dakmayofilebas.
2008 wels ganxorcielebuli sapensio reformis Sedegad
moxda TviTdasaqmebulTa CarTva savaldebuli kerZo dagrove-
biT sapensio sistemaSi, manamde maTi monawileoba nebayoflobi-
Ti iyo. es cvlileba gazrdis mosaxleobis CarTulobas axal sa-
pensio sistemaSi. 2007 wlis monacemebiT, dagrovebiT sistemaSi
CarTuli iyo momuSaveTa 65,9%, risi mTavari mizezic am sistema-
Si TviTdasaqmebulTa monawileobis nebayoflobiToba gaxldaT.
sapensio reformis pirvel wlebSi investireba SesaZlebeli
iyo mxolod qveynis SigniT arsebul kapitalSi. mas Semdeg, rac
sistema ganviTarda, fondebis moculoba da maTdami ndoba gai-
zarda, mTavrobam moaxdina investirebis wesebis liberalizacia.
1990 wlidan ucxour fasian qaRaldebSi investireba nebadar-
Tul iqna da 2007 wels Seadgina investiciebis saerTo moculo-
bis 35%.
CileSi fondebis momgebianobam 2012 wels Seadgina saSua-
lod 4,6%, xolo maTSi ganTavsebuli Tanxebis odenoba gaizarda
10,2%-iT,
12
rac Seesabameba fondebis bolo wlebis saSualo
zrdis tempebs. Canacvlebis koeficienti, gadasaxadebis gamok-
lebiT, Seadgens 66%-s,
13
rac ganviTarebadi qveynisTvis sakmaod
maRali maCvenebelia da aRemateba zogierTi ganviTarebuli
qveynis (magaliTad, safrangeTi) analogiur maCvenebels.
11
Joaquin Vial Ruiz-Tagle, Francisca Castro, The Chilean Pension System, OECD Age-
ing Working Papers, 1998. p.10
12
Euroinvestor, Chile pension funds posted 4,6% average return in 2012, (2013)
http://www.euroinvestor.com/news/2013/01/07/chile-pension-funds-posted-46pct-average--
return-in-2012/12173062 (28.05.2013)
13
Pensions at a glance 2011, retirement income systems in G20 and oecd countries,
OECD, 2011, p. 211
saqarTvelos sapensio politika
da alternatiuli modelebi
311
problemis aRwera
saqarTveloSi asakis gamo pensia 2013 wlis 1 seqtembridan
gaxda 150 lari. saarsebo minimumma ki 2013 wlis aprils Seadgina
147,4 lari.
14
saqarTvelos statistikis departamentis 2011 wlis
monacemebiT, saSualo xelfasi qveyanaSi 636 laria,
15
1 seqtem-
bridan pensia am Tanxis 23,5% gaxda, rac mniSvnelovnad Camou-
vardeba OECD qveynebis saSualo maCvenebels — 60%.
qveyanaSi moqmedebs gadanawilebiTi saxelmwifo sapensio
sistema, romlis mixedviTac saxelmwifo Tavad axorcielebs sa-
pensio asakis mqone yvela moqalaqis sapensio uzrunvelyofas
saxelmwifo biujetidan. pensiis miRebis ufleba sapensio asakis
miRwevis gamo warmoiSoba 65 wlis asakidan, qalebs es ufleba
eniWebaT 60 wlis asakidan.
aseve arsebobs nebayoflobiTi arasaxelmwifo (kerZo) sapen-
sio uzrunvelyofis sistema, romelsac aregulirebs kanoni
`arasaxelmwifo sapensio dazRvevisa da uzrunvelyofis
Sesaxeb~, romlis mixedviTac: `pensia monawiles miecema saqar-
Tvelos kanonmdeblobiT dadgenili sapensio asakis miRwevis
Semdeg gancxadebis wardgenidan erTi Tvis ganmavlobaSi, anda
sapensio asakis miRwevamde, Tu man nawilobriv an mTlianad da-
karga Sromis unari. monawiles ufleba aqvs gadaavados pensiis
miRebis dro~
.
16
fizikur pirebze fuladi saxsrebi (pensiebi) regularulad
gaicema fizikur da iuridiul pirTa sapensio Senatanebisa da
sainvesticio mogebis xarjze.
arasaxelmwifo pensiis saxeebia:
a) mudmivi pensia, romelic eZleva fizikur pirs pensiis ga-
cemis dawyebidan gardacvalebamde;
14
saqarTvelos statistikis erovnuli samsaxuri http://geostat.ge/?action=page-
&p_id=178&lang=geo
15
saqarTvelos statistikis erovnuli samsaxuri http://geostat.ge/?action=pa-
ge&p_id=148&lang=geo
16
saqarTvelos kanoni `arasaxelmwifo sapensio dazRvevisa da uzrunvel-
yofis Sesaxeb~ (28.05.2013)
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