Defaulting employers cough out N17.52bn unremitted pensions — PenCom

Nigeria’s pension assets

As pension fund assets hits N11.09trn___________________________________ The National Pension Commission (PenCom) has recovered N17.52 billion from employers who deducted monthly pensions from their workers’ monthly salaries but refused to remit to their Retirement Savings Accounts (RSA) with the respective Pension Fund Administrators (PFAs). PenCom disclosed this in its second quarter 2020 report which was released on Friday. The amount consists of principal contribution of N8.89 billion and penalty of N8.63 billion. Part of the report read, “Following the issuance of demand notices to some defaulting employers whose outstanding pension contribution…

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