PenCom clears Leadway Assurance, AIICO, 133 others to execute govt.’s business

Acting Director-General PenCom, Mrs. Aisha Dahir-Umar

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Chuks Udo Okonta

The National Pension Commission (PenCom) has issued certificate of compliance to 135 companies to enable them bid and execute Federal Government’s businesses, Inspenonline can report.

PenCom stated this in a published Schedule of Employers Issued with Certificate of Compliance with Provision of the Pension Reform Act (PRA) 2014 as at January 9, 2019.

The Pension Act mandates employers with three and more employees to financially contribute and remit 18 per cent towards employees’ pension. This is broken into 10 per cent from the employer and eight per cent from the employee, which is monthly injected into a Retirement Saving Account (RSA) domiciled with Pension Fund Custodians (PFCs) and manage by Pension Fund Administrators (PFAs).

As part of the enforcement of the Act, PenCom in collaboration with the Federal Government, made it mandatory for all companies biding government’s business to yearly secure the certificate of compliance.

Some companies amongst the 135 so far cleared are, Straco Nigeria Limited which has 3950 employees, contributed and remitted N521.09 million; AIICO Insurance Plc, with 259 employees contributed and remitted, N145.06 million; Leadway Assurance Limited, remitted N135.10 million for 287 employees.

Others are, Datum Construction Nigeria Limited, remitted N6.50 million for 75 employees; Rockbridge Construction Limited, N10.72 million for 99 employees; Risk Analyst Insurance Brokers Limited, N3.08 million for 15 employees; Pacific Silverline Limited, N2.29 million for five employees; Jully & Partners Insurance Brokers Limited, N1.15 million for five employees and interracial Networks Limited, N2.69 for 14 employees.

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