PENCOM recovers N6.7bn from employers

The National Pension Commission recouped N6.7bn from employers of labour who have been deducting pension contributions from their workers’ monthly salary but failed in remitting  same to the employees’ RSA

PenCom said that during the first quarter of this year, it received 1,050 applications for issuance of compliance certificates, out of which 840 employers were issued the certificates while the remaining applications were rejected on the grounds that they did not meet the requirements.

The commission recruited the services of the recovery agents to go after employers found to be notorious for not remitting the monthly deductions from their workers to their respective Pension Fund Administrators as and when due.

PenCom said it had retained the services of consultants to conclude the work on the recovery of outstanding pension contributions from other defaulting employers.


The commission said it resorted to the use of force and penalties, having exhausted various persuasive methods of making the defaulting firms to comply.