The National Pension Commission (PenCom) has said that it recovered the sum of N384.28 million from 34 defaulting employers during the first quarter of 2023.
Director-General, PenCom, Aisha Dahir-Umar, revealed this in Lagos, at a workshop organised by the Commission for Labour Writers Association of Nigeria (LAWAN), where she spoke on the theme, “Securing the Future: The Benefits of the Contributory Pension Scheme to Nigerian Workers.”
A breakdown of the amount showed that contributions made up N193.06m of the amount, while penalties from the defaulting employers amounted to N191.22m.
According to her, from the commencement of the recovery of pension contributions owed workers in June 2012 to March 31, 2023, the ommission has recovered N24.53b (contributions of N12.44b and penalties of N12.09b) from defaulting employers.
Represented by PenCom Head of Communication, Abdulquadri Dahiru, Dahir-Umar reiterated the Commission’s commitment to protecting workers’ interests and ensuring that employers pay pension contributions as at when due.
As of March 31, 2023, the PenCom chief said the value of pension assets stood at N15.58t, while Contributory Pension Scheme (CPS) membership was 9.95 million.
The DG attributed the feat to the commission’s meticulous regulation and supervision of the pension industry ensuring that pension assets and CPS membership continue to grow.
n the workshop, she said it marked an essential milestone in the commission’s ongoing efforts to foster dialogue and collaboration with the media.
“By enhancing your understanding of pensions, you will be better equipped to educate the public, dispel misconceptions, and foster a financial planning culture and security among Nigerian workers.”
