Pension

PenCom Moves Against Defaulting Media Organisations, Vows To Prosecute More

L-R: Mr. Ibrahim Garba Buwai (Principal Manager, Corporate Communications Department); Dr. Babatunde Alayande (Head, South West Zonal Office); Mrs. Carol Alex Uzomah (Assistant General Manager, Corporate Communications Department); Mr. Peter Aghahowa (Head, Corporate Communications Department); Hajiya Maryam Bello (Assistant General Manager, National Databank Management Department; Mr. Ibrahim Kangiwa (Head, Research and Strategy Management Department) at the 2021 Journalists Workshop held in Lagos.

BY NKECHI NAECHE-ESEZOBOR–The National Pension Commission (PenCom)
will soon bring the full weight of the law against defaulting media employers after the conclusion of jobs by recovery agents to recover unremitted, deducted funds by employers.

The commission added that  it  has started the process of prosecuting four media organization for failing  to remit the pension deductions of their workers into the accounts of workers.

The Director General of the Commission, Aisha Dahir-Uma, disclosed this at a two day 2021 Journalists Workshop, organised by the commission in Lagos recently that the commission is ensuring that it follow due  process before Prosecuting them.

The Director General who was represented by  the head, corporate communications, PenCom, Peter Aghahowa, also revealed that  more media organization would be prosecuted for non remittance of workers  contributions by the Commission going forward.

She also called on workers to followup with their various employers to know if they are truly remitting their contributions, noting that early discovery of any  problem will enable the commission to intervene.

According to her,  “you have a role in this as well, because as an RSA holder you have the responsibility to monitor the remittance that goes into your RSA account. If you are shouting while you are still in  service, it will yield more growth than when you have retired.
But what we see is that most people wait after they must have retire, it becomes even more difficult to help them.

The Commission had in June announced that it has recoved N608.55m from 25 employers who deducted the monthly emoluments of their workers but did not remit to their respective Pension Fund Administrators.

According to the Commission’s first-quarter 2021 report that employers were fined N446.17m during the period under review.

 “Following the issuance of demand notices to defaulting employers whose pension liabilities had been established by the Recovery Agents, the sum of N608,554,747.59 representing principal contribution (N162,385,260.05) and penalty (N446,169,487.54) was recovered from 25 defaulting employers during the quarter under review.”



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