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Chuks Udo Okonta
The National Pension Commission (PenCom) has continued to pave way for good retirement for workers by recovering a total sum of N24,533,339,305.09 comprising of principal contributions
N12,440,682,240.91 and penalties N12,092,657,064.18 from defaulting employers since the commencement of exercise in June 2012 to March 31 2023.
PenCom stated this in its first quarter report, noting that it has continued to maintain the services of Recovery Agents (RAs) for the recovery of unremitted pension contributions and penalties from defaulting employers.
It said demand notices were issued to defaulting employers whose pension liabilities were established by the Recovery Agents, adding that during the first quarter 2023, the sum of N384,280,651.48 comprising principal contributions (N193,058,483.56) and penalties (N191,222,167.92)
was recovered from 34 defaulting employers.
It maintained that meanwhile, four defaulting employers were forwarded to the Commission’s Secretariat/Legal Advisory Services Department for prosecution.
