PenCom imposes ₦14bn fine on 911 employers over late pension payments The National Pension Commission (PenCom) has imposed a fine of ₦14.3 billion on 911 employers for failing to remit pension contributions on time. The Commission disclosed this in its latest report, adding that it also recovered ₦13.83 billion as outstanding pension contributions from the employers. It will be recalled that Section 92(2) of the Pension Reform Act, PRA 2014, empowers PenCom to appoint Recovery Agents to review employers’ pension records and ascertain their outstanding pension liabilities. The report stated: “Since the commencement...