BY NKECHI NAECHE- ESEZOBOR—With the help of Recovery Agents (RAs), the National Pension Commission, (PenCom), said it has recovered a total of N268.1million from defaulting employers who refused to remit pension contributions of workers at the end of Q2 2023.
PenCom said in its second quarter, 2023 the sum of N268.1 million comprising principal contributions N84.3billion and penalties N184 billion recovered from 21 defaulting employers.
The report added that “Meanwhile, the Commission Secretariat/Legal Advisory Services Department had been requested to take legal action against one defaulting employer.
It added that “From the commencement of the recovery exercise in June 2012 to 30 June 2023, a total sum of N24.8 billion comprising of principal contributions N12.5 billion and penalties N12.27 billion was recovered from defaulting employers.”
On supervision of the Pension Transitional Arrangement Directorate (PTAD), the commission said PTAD launched its ‘I Am Alive’ Confirmation Solution for Pensioners on 14 April 2023 at PTAD’s Head Office in Abuja, adding that staff of the Compliance & Enforcement Department represented the Commission.
It added that the Commission received 9 Defined Benefits Scheme related complaints within the quarter, all of which have been forwarded to the PTAD for resolution.
Also Read: Q2 2023: Only 16,925 Firms Have Pension For Employees— PenCom
On Nigeria Social Insurance Trust Fund (NSITF), the Commission said it received seven batches of NSITF transfer applications from Trustfund Pensions Limited on behalf of 84 NSITF members requesting for the transfer of a sum of N5.billion into their respective RSAs.
The requests, the commission said were reviewed and approvals granted for the transfer of N4.591 billion into the RSAs of the 84 members with various Pension Fund Administrators, having met all the necessary requirements for the transfer of NSITF contributions.
It added that it granted approval to Trustfund for payment of monthly pension to the tune of N42.34 billion to 2,394 NSITF pensioners during the quarter.
Thus from 2006 to date, the total pension payments made to NSITF pensioners from the NSITF Fund amounted to N5.421billion .
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