a Meeting was held at BAG Regarding Amendments to the Law on Accumulative Pensions

23 May '25

A meeting with member companies was held at the Business Association of Georgia, featuring representatives from the Pension Agency of Georgia and the Revenue Service, where amendments made to the Law on Accumulative Pensions were discussed in detail.

During the meeting, the parties discussed the existing challenges regarding the amendments to the Law on Accumulative Pensions and addressed issues necessary for the proper functioning of the pension model, such as the expediency of revising penalties prescribed by law for failure to fulfill pension contribution obligations, the ability to verify information regarding participation in the pension scheme, limitation periods for pension contributions, and more.

It is worth noting that certain amendments were introduced to Georgia's Law on Accumulative Pensions, according to which, for obligations arising from May 1, 2025, pension contributions will be made through the Revenue Service's income tax declaration. Additionally, employers will face penalties/late fees for violating the obligation to make pension contributions.

The meeting, which was attended by BAG members, was held in a dialogue format, allowing business sector representatives to receive detailed information on key topics of interest.

"Meetings of this nature serve to keep members of the Business Association of Georgia informed about legislative amendments and new regulations, which in turn significantly streamlines the implementation process of new regulations. We believe that our cooperation with the Pension Fund and the Revenue Service is progressing effectively, directly representing the interests of BAG member companies," stated Levan Vepkhvadze.