Pension: Insurance operators remit over N690.87m employees’ contributions

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Chuks Udo Okonta

Nine insurance companies and 18 broking firms remitted over N690.87 million of their workers’ pension contributions to Pension Fund Administrators (PFAs) last year, Inspenonline can report.

The National Pension Commission (PenCom), disclosed this on its website, adding that the firms were also issued certificates of compliance to enable them pursue government’s contracts in line with the Pension Reform Act 2014.

PenCom noted that AIICO Insurance Plc, which has 264 staff in 2017, remitted N135.11 million, Solid Trust Insurance Brokers Limited with nine staff, remitted N5.03 million; Risk Analyst Insurance Brokers Limited, has nine employees and contributed N2.42 million; Prorisk Insurance Brokers Limited, has nine staff, contributed N2.42 million and Image Brokers Limited has 16 employees and contributed N1.51 million.

Others are, Wib Insurance Brokers Limited, three staff, contributed N855,499.58 and Denos Insurance Brokers Limited, seven staff, contributed N660,240.12; Leadway Assurance Company Limited, with 283 employees, contributed N133.02 million; Cornerstone Insurance Plc, 204 employees, contributed N132.20 million; Linkage Assurance Plc, 231 employees, contributed N65.50 million; NSIA Insurance Limited, 99 employees, contributed N27.95 million and Lasaco Assurance Plc, with 175 employees, contributed N65.63 million.

ARM Life Plc, remitted N48.56 million for 106 employees, Fin Insurance Plc, remitted N16.81 million for 34 employees; Jaiz Takaful Insurance Plc, remitted N10.21 million for 36 staff; IBN Insurance Brokers of Nigeria Limited, remitted N35.86 million for 95 staff and other 12 firms.

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