By Victor Ahiuma-Young
The National Pension Commission, PenCom, has intensified its crackdown on employers that fail to remit workers’ pension contributions. As part of a major enforcement exercise carried out in collaboration with the Independent Corrupt Practices and Other Related Offences Commission, ICPC, the commission recovered more than ¦ 3 billion from defaulting firms in the electricity sector.
The recovered funds have been credited into the Retirement Savings Accounts, RSAs, of affected employees in accordance with the provisions of the Pension Reform Act, PRA, 2014, PenCom.
The commission described the recovery as a significant milestone in its ongoing enforcement drive against pension defaulters, noting that the feat demonstrates the effectiveness of its partnership with the ICPC in ensuring compliance with the PRA 2014 and protecting workers’ retirement savings.
According to PenCom, the collaboration was formalised through a Memorandum of Understanding, MoU, signed with the anti-graft agency in October 2025 to establish a framework for recovering unremitted pension contributions, investigating pension-related infractions and enforcing compliance with the law.
