PenCom issues ultimatum to employers to file remittance documentation

The National Pension Commission said sanctions await employers who fail to file complete remittance documentation of their employees before December 31, 2023.

PenCom disclosed this in a document on Wednesday sent to concerned employers and employees.

The Commission asked employers with incomplete remittance documentation of their employees to correct the anomaly through their Pension Fund Administrators, PFAs, on or before December 31, 2023.

Accordingly,it was learnt that over 100,000 employees were said to be affected by this development.

“Please note that the Commission shall take appropriate regulatory actions against employers who fail to comply with this directive by December 31, 2023, in line with the provisions of the PRA 2014,” the document reads.