By Uche Usim
In its efforts to enforce compliance on contributory pension remittances by employers across the country, the National Pension Commission (PenCom) on Tuesday disclosed that it was in court with about recalcitrant management of over 120 companies that have refused to comply with the dictates of the 2014 Pension Reform Act (PRA). The Director, Corporate Communications of the Commission, Mr Peter Aghahowa stated this in Lagos at the 2021 PenCom workshop for journalists in Lagos.
According to him, the Commission was working assiduously to ensure all pension laws as it affects various policies are totally complied with.
He noted that compliance varies according to the sector, adding that recovery agents have been engaged to ensure that funds that ought to be remitted to PenCom are not diverted under any guise. “For the private sector, we engaged recovery agents. By the PRA, any company with more than three workers must key into the Contributory Pension Scheme (CPS). So, the recovery agents have been empowered. Once they check the books of companies, they will determine their liabilities. “We have the employee and employer portion remittances. For those not remitting at all, there is a penalty.
“We have 120 cases in court and these are organisations we tried to work with and they were just recalcitrant. Going to court is the last resort because the goal is for the money to the RSAs. We always try to engage.
“In states, they have to enact and implement the CPS. We work with them in coming up with a bill and setting up a pension bureau.
Most states have not implemented this well. In enforcing compliance here, you should tread softly. Accrued rights have been paid up”, he said. Earlier, the PenCom DG, Mrs Aisha Dahir-Umar, disclosed that the Commission has deepened technological innovation as it seeks to navigate through the challenges imposed by the pandemic.