The National Pension Commission (PenCom) said it recovered a total of N465.02 million as outstanding pension contributions from defaulting employers in the second quarter of 2018, Q2’18.
The figure represents principal contribution of N335.7 million and penalty payment of N129.32 million. So far, the Commission said it had recovered N14.38 billion in outstanding pension contributions since the inception of the Contributory Pension Scheme, CPS, comprising a principal contribution of N7.48 billion and penalty of N6.96 billion from defaulting employers since it engaged the services of recovery agents.
PenCom stated this in its Q2’18 report, adding that it has maintained the services of 14 agents for the recovery of outstanding pension contributions from defaulting employers.
PenCom in the report stated, “During the quarter, the sum of N465.02 million representing principal contribution of N335.70 million and penalty totaling N129.32 million was recovered. This brought the total recoveries made to date to N14.38 billion comprising of principal contribution of N7.48 billion and penalty of N6.96 billion. Read more<<<<<