Parliament is considering amendments to the funded pension law under an accelerated procedure, including changes to administrative penalties and an amnesty for fines imposed by the Pension Fund. The changes would also reduce fines and introduce additional protections for employers.
As of September 9, the package covers 48,069 fines imposed on 13,488 employers, totaling GEL 42.9 million. Of these, 4,673 employers still owe GEL 23.56 million in pension contributions and related charges, while the fines imposed for these outstanding obligations total GEL 13.44 million.
Employers will be exempt from fines imposed since May 1, 2025 if they fully pay the outstanding pension contributions and related charges by December 31, 2026. Otherwise, the fines will be sent for enforcement. Under the new rules, employers will also receive notifications through Pension Fund and Revenue Service systems, SMS and potentially other electronic channels.
The first penalty will also be reduced from GEL 500 to GEL 300, while repeat violations will also carry a GEL 300 fine instead of GEL 1,000. Employers will receive a 10-working-day grace period to identify and correct errors. An independent Pension Fund dispute resolution service will also be established to review fines and other decisions affecting pension scheme participants.
