Leave a comment and share
Chuks Udo Okonta
The National Pension Commission (PenCom) took legal action against 66 employers for failure to contribute and remit their workers pension contributions last year, Inspenonline can report.
According to data obtained from PenCom 19 of the defaulting employers were recommended for legal action in the second quarter of the year, while 29 of them was recommend for same action in the third quarter and 18 in the fourth quarter of the year.
PenCom noted that following the issuance of demand notices to defaulting employers whose pension liabilities had been established by the Recovery Agents (RAs), 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 first quarter.
Continuing it stated that also following the issuance of demand notices to defaulting employers whose pension liabilities were established by the Recovery Agents (RAs), the sum of N398,006,984.46 representing principal contribution (N243,396,311.27) and penalty (N154,610,673.19) were recovered from 31 defaulting employers during the second quarter under review, adding that meanwhile, 19 defaulting employers were recommended for appropriate legal action.
The pension sector regular said following the issuance of demand notices to defaulting employers whose pension liabilities were established by the Recovery Agents (RAs), the sum of N559,347,547.73 representing principal contribution (N394,786,722.09) and penalty (N164,560,825.64) was recovered from 28 defaulting employers during the third quarter and that 29 defaulting employers were recommended for appropriate legal action.
It maintained that 18 defaulting employers were recommended for appropriate legal action in the fourth quarter adding that following the issuance of demand notices to defaulting employers whose pension liabilities were established by the Recovery Agents (RAs), the sum of N984,295,614.20 representing principal contribution (N406,421,486.65) and penalty (N577,874,127.55) was recovered from 36 defaulting employers during the quarter under review.
