57,703 Firms Get PenCom’s Nod For FG Contracts

The National Pension Commission (PenCom) has in five years issued certificates to over 57,703 firms in the country which allow them to bid for Federal Government jobs.

According to data obtained from PenCom, 14,272 firms between January and august 8 of 2019 complied with the requirement stipulated in the Pension Reform Act (PRA) 2014, and were subsequently cleared to secure Federal Government contracts.

Similarly in 2015, 2016, 2017 and 2018, 3,619, 10, 120, 13, 592, and 16,100 firms got compliance certificates respectively which is evident that the firms have fully paid the contributions of their employees.

The Commission noted that before issuance of the certificate, the firms underwent several strategic processes including the application of sanctions and collaboration with key stakeholders on public enlightenment campaigns as well as engagement of defaulting employers via pension recovery agents employed to recover unremitted pension contributions.

“Further to the Commission’s strategy of driving compliance with the provisions of the PRA 2014 by employers through the conduct of public awareness programmes, the Commission has continued to organize sensitization workshops on the Contributory Pension Scheme (CPS) for employers’ associations/unions to enlighten and encourage them to key into the Scheme.