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Sixteen erring employers fined N108.5m for late remittance

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Sixteen blundering businesses, which defaulted in dispatching benefits commitments have been fined N108.54 million by the National Pension Commission, The Nation has learnt.

This followed sees gave to some defaulting managers by the Recovery Agents (RAs) named by the commission.

As indicated by the commission, the punishment was paid in the Second Quarter of the year.

The cash, which speaks to a fine on head commitments of representatives’ annuity, will be paid into their Retirement Savings Account (RSA).

Furthermore, the defaulting bosses likewise paid the extraordinary annuity commitment liabilities of N152.79 million.

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Altogether, the influenced bosses transmitted N261.33 speaking to head commitment N152.79 and punishment of N108.54 during the quarter. This brought the all out recuperations produced using commencement to June 30, 2020.

The commission asked managers to transmit annuity commitments inside seven days, taking note of that businesses that deduct without transmitting the commitments of their workers should stop from the training.

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