Changes to Georgia’s Law on Funded Pensions have been revised ahead of the second reading, with employers set to receive more time to appeal fines, according to MP Paata Kvizhinadze.
Speaking at the Finance and Budget Committee meeting, Kvizhinadze said the deadline for appealing a fine will be extended from 10 to 30 days, in line with the deadlines used in other legislation.
The period provided for correcting violations will also be adjusted. The additional 10-calendar-day period in the procedure will be changed to 10 working days, giving employers more time to address deficiencies.
Another change concerns the installment period for outstanding payments. The previously proposed 18-month limit will be removed, allowing companies to agree on a repayment schedule based on the period they consider necessary, Kvizhinadze said.
