Reps to investigat employers non-remittance of pension deductions

The House of Representatives yesterday mandated its Committee on Pensions to commence investigation into the allegations of non- remittance of contributions to the Pension Funds Administrators ( PFAs) by employers of labour in the country.

The committee is also to obtain a comprehensive report on the operations of the scheme so far, including the list of defaulting employers and the amount involved and report to the House within six weeks for further legislative action.

The resolution of the House was sequel to the adoption of a motion titled: Threat to the Continuation of the Contributory Pensions Scheme by non- remittance of Workers Contributions by Employers,” sponsored by a member, Joseph Edionwele.

Moving the motion, the lawmaker said: “The Pension Reform Act of 2004 established a contributory pensions scheme for the payment of retirement benefits of employees in both the public service and the private sector to avoid the sufferings of retirees under the old scheme.

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.