The National Pension Commission (PenCom) says it has recovered N25.13 billion from defaulting employers which comprises of N12.80 billion principal contributions, and N12.33 billion penalties for delayed payments.
The Commission, in a report on Wednesday, said the amounts were recovered between June 2012 and September 2023.
In the report titled “The Pension Reform Act of 2014 (PRA 2014)”, the body noted that the act stipulates that eligible employees must maintain a Retirement Savings Account (RSA) with a Pension Fund Administrator (PFA) of their choosing.
