Non Remittance of Pension Contributions This will result in zero account balance for the RSA holder. For employees in the Public Sector (Federal), their employers should submit employees’ nominal rolls to PenCom for reconciliation and same should be done on yearly basis to take care of promotion and annual increment in salary. Similarly, shortfalls in monthly pension contributions shall be treated likewise. In the private sector, where an RSA holder receives a zero account balance, he/she should liaise with the employer or PFA to confirm remittance. It should be noted that PenCom has appointed recovery agents to assist in the recovery of such contributions plus interest. For employees in the Public and Private sectors, NLPC PFA is mandated to issue quarterly statement of account irrespective of the funding status.
Posted on: Mon, 10 Mar 2014 07:13:33 +0000
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