PenCom issues pension compliance certificates to 83 employers
The National Pension Commission (PenCom) has issued certificate of compliance with provisions of the Pension Reform Act, PRA 2014, to 83 employers as at January 3, 2018.
The annual Certificate of Compliance to all employers that comply with the provisions of the Pension Reform Act, 2014 is a mandatory requirement for organizations transacting business with Federal Government Ministries, departments and Agencies.
To obtain the certificates, the employers applied to the Commission with evidence of compliance with the Act, including evidence of remittance of monthly pension contribution(s) to the Retirement Savings Account (RSA) of employees.
Analysis of the employers that got the certificates showed that Setraco Nigeria Limited contributed N455.05 million for the company’s 2, 839 employers as at the end of 2017.
This was the highest pension contribution made by a single employer among the 83 certified employers as at January 3, 2018.
Aiico Insurance Plc closely followed with N264.14 million contributed for 264 employees in 2017.
North South Power Company Limited, which also got the certificate of compliance, contributed N114.65 million for its 331 employees during the period under consideration.
Employers that got their certificates between January 2 and January 3 2018 included Inspire Kids Education Consult, Initiative For Community Development UNION, Horlab Construction Company Ltd, Allworth Engineering Ltd, Stargro Nigeria Ltd, Konstrad Nigeria Ltd and Ticktos Nigeria Ltd.
Other included Ijekache Nig. Ltd, Joshuel Global Ventures Ltd, Hypertech Nigeria Ltd, Sino Viking International Co. Ltd and Jrb Solar Investment Ltd among others.