August 31, (THEWILL) – The National Pension Commission (PenCom) has called on employers to file complete remittance documentation of their employees before December 31, 2023.or face sanctions.
PenCom disclosed this in a document on Wednesday sent to concerned employers and employees.
The apex pension regulatory body 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.
“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
THEWILL learnt that over 100,000 employees were affected by this development.
About the Author
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
