I want know the implication(s) of none compliance to the mandatory pension scheme by a company Nigeria?

There is a company, with close to 50 employees (80% of which are females) based in Abuja, where my sister works. Some of staff have spent upto 10 years and my sister just spent 4 years now, but the Managing Director has refused to enrol them for the mandatory pension scheme, even though it is stated in her letter of employment, i.e. to register her for the scheme.

At a point, a female-based NGO wrote to the company mandating it to register its staff for the pension scheme, the MD grudgingly started the process, by bringing forms for the staff to fill, but later stopped when it appeared that he must have settled with the NGO. Since he stopped the process, they have not heard anything from the NGO again.

And the situation the staff find themselves is that they are afraid to confront the company, as the MD fires staff at will, especially when you discuss issues like this with him. The staff live in fear and are at the mercy of the MD who runs the company as it pleases him, even when it negates professional and etnical standards.

nickxtra:
I want know the implication(s) of none compliance to the mandatory pension scheme by a company Nigeria?

There is a company, with close to 50 employees (80% of which are females) based in Abuja, where my sister works. Some of staff have spent upto 10 years and my sister just spent 4 years now, but the Managing Director has refused to enrol them for the mandatory pension scheme, even though it is stated in her letter of employment, i.e. to register her for the scheme.

At a point, a female-based NGO wrote to the company mandating it to register its staff for the pension scheme, the MD grudgingly started the process, by bringing forms for the staff to fill, but later stopped when it appeared that he must have settled with the NGO. Since he stopped the process, they have not heard anything from the NGO again.

And the situation the staff find themselves is that they are afraid to confront the company, as the MD fires staff at will, especially when you discuss issues like this with him. The staff live in fear and are at the mercy of the MD who runs the company as it pleases him, even when it negates professional and ethical standards.

send a petition to PENCOM. I've also heard FIRS can be useful with respect to unpaid pension
She can also do voluntary contribution

olujaidi:


send a petition to PENCOM. I've also heard FIRS can be useful with respect to unpaid pension

Ok, thanks

olujaidi:


send a petition to PENCOM. I've also heard FIRS can be useful with respect to unpaid pension

LIRS and not FIRS

n

nickxtra:
Ok, thanks

Do as recommended. . .



Then remove the number of years your sister has worked from your post, that can make her traceable considering the "man fires at will".

She can ask the people that participated in the one that is cursing wahala upandown now.

The name is em, em, em!! Na juoke I dey juoke oh before they chop my head!

Melahou:



LIRS and not FIRS

LIRS for an Abuja based organizations

It doesn't work. The MD settles pencom and firs. Once they have been settled at the detriment of fellow Nigerians they will provide them with way of avoiding paying the pension. I know what I talking about.
A typical example of what they do is to give appointment letter to their children, close relatives as employees and some few trusted members of staff and register as evidence of compliance with full collaboration of top officials of pencom and firs.

Hmmm

nickxtra:
I want know the implication(s) of none compliance to the mandatory pension scheme by a company Nigeria?

There is a company, with close to 50 employees (80% of which are females) based in Abuja, where my sister works. Some of staff have spent upto 10 years and my sister just spent 4 years now, but the Managing Director has refused to enrol them for the mandatory pension scheme, even though it is stated in her letter of employment, i.e. to register her for the scheme.

At a point, a female-based NGO wrote to the company mandating it to register its staff for the pension scheme, the MD grudgingly started the process, by bringing forms for the staff to fill, but later stopped when it appeared that he must have settled with the NGO. Since he stopped the process, they have not heard anything from the NGO again.

And the situation the staff find themselves is that they are afraid to confront the company, as the MD fires staff at will, especially when you discuss issues like this with him. The staff live in fear and are at the mercy of the MD who runs the company as it pleases him, even when it negates professional and etnical standards.

Unfortunately there is nothing you can do. You live in a jungle, not a country.

It is criminal. He could be arrested. Report to EFCC or ICPC or to NLC.

TWoods:


Unfortunately there is nothing you can do. You live in a jungle, not a country.

Nigeria is worse than a jungle. We keep screaming Nigeria is bad!... but who is Nigeria? Are we not Nigeria?

We the citizens are even worse than the government we daily condemn.

The National Pension Commission is the sole body that administers pension fund contributions, hence, it is the only body that you could write.

Besides, for any month your Employer fails to deduct and remit pension contributions into the employees retirement savings account, such employer will be liable to pay the total outstanding pension liabilities with interest penalties.

TWoods:


Unfortunately there is nothing you can do. You live in a jungle, not a country.

Either jungle or zoo is an understatement to what Nigeria can be called.

Na wa o

I need some clarificaion from the workers-------
1. Do you belong to a union?
2. Are you a financial member?
3. Your union membership registered with branch,Zonal and National body?
if all the are yes,then advice your leadership to write and dothe needful because it is only the Union that can address our case.
Regards
Comrade Adigun

I doubt if there is much she can do. I believe her boss was aware that the scheme is mandatory and prepared to bribe his way through. The best she can do is to fight for non remittance of deductions on her salary for pension purpose, if any.

Nigerian Pension Scheme self na risk. Life expectancy 58, retirement age 60. The mandatory payment is gratuity, other contributions are spread on years above Nigeria life expectancy, actuarial valuation they call it.

Rate of returns uncertain. Access to your fund is after age 50 (to collect some part in advance).

Pray hard you live long to enjoy your savings / pension else collect it now when you alive.

seunoni34:
Lol and here I am praying that my employer can stop deducting pension and add it back to my salary. The truth is, except you're working for a federal government agency pension payment and deduction is needless! .
If you don't know how to save money now, don't think your pension that you can't have access to till you're 50+ will do you any good.

LEARN to save on your own and create investment plans for yourself.

Sometimes I look at my ibtc pension balance and it just pains me that I can't access it till I'm 50+. And I'm sure by then I'll have to go through 7 hills and 7 Valleys and mountains to get even half of it, because those pension schemes won't just part with it that easily...

Pension is a big scam!

I doubt if there is much she can do. I believe her boss was aware that the scheme is mandatory and prepared for the implication. The best she can do is to fight for non remittance of deductions on her salary for pension purpose, if any.

Nigerian Pension Scheme self na risk. Life expectancy 58, retirement age 60, compulsory payment, gratuity. Others are spread on life expectancy of minus 2.

Rate of returns uncertain. Access to your fund, after age 50 (to collect part in advance).

Pray hard you live long to enjoy your savings / pension else collect it now when you alive.

omowolewa:


Nigerian Pension Scheme self na risk. Life expectancy 58, retirement age 60, compulsory payment, gratuity. Others are spread on life expectancy of minus 2.

Rate of returns uncertain. Access to your fund, after age 50 (to collect part in advance).

Pray hard you live long to enjoy your savings / pension else collect it now when you alive.

Don't generalise. The reformed pension act 2014 is trusted and tested

chrisxxx:
It doesn't work. The MD settles pencom and firs. Once they have been settled at the detriment of fellow Nigerians they will provide them with way of avoiding paying the pension. I know what I talking about.
A typical example of what they do is to give appointment letter to their children, close relatives as employees and some few trusted members of staff and register as evidence of compliance with full collaboration of top officials of pencom and firs.

No. Once the case is reported to Pencom, solution WILL come. Pencom don't play with non remittance of pension deductions.

Faheedat:
I need some clarificaion from the workers-------
1. Do you belong to a union?
2. Are you a financial member?
3. Your union membership registered with branch,Zonal and National body?
if all the are yes,then advice your leadership to write and dothe needful because it is only the Union that can address our case.
Regards
Comrade Adigun

This route is very supported. It's a good solution.

The union would have it resolved quickly

nickxtra:
I want know the implication(s) of none compliance to the mandatory pension scheme by a company Nigeria?

There is a company, with close to 50 employees (80% of which are females) based in Abuja, where my sister works. Some of staff have spent upto 10 years and my sister just spent 4 years now, but the Managing Director has refused to enrol them for the mandatory pension scheme, even though it is stated in her letter of employment, i.e. to register her for the scheme.

At a point, a female-based NGO wrote to the company mandating it to register its staff for the pension scheme, the MD grudgingly started the process, by bringing forms for the staff to fill, but later stopped when it appeared that he must have settled with the NGO. Since he stopped the process, they have not heard anything from the NGO again.

And the situation the staff find themselves is that they are afraid to confront the company, as the MD fires staff at will, especially when you discuss issues like this with him. The staff live in fear and are at the mercy of the MD who runs the company as it pleases him, even when it negates professional and etnical standards.

Jesus why are nigerians like this
Let the sis go and discuss it with the MD
It is in her letter of employment and if she gets sacked she can sue....all she to do is find proof of the boss's refusal to do the right thing and believe me her case will take off in court
Its why the courts are there; so that u can sue when ur employer decides to breach the terms of employment.
Nigerians, always having housegirl mentality and being afraid of their bosses since 1512

Aroh48:
Either jungle or zoo is an understatement to what Nigeria can be called.

No its not like that
Nigerians dont like taking matters up...
Once u do u notice that matters actually get address3d contrary to what u think

nickxtra:
I want know the implication(s) of none compliance to the mandatory pension scheme by a company Nigeria?

There is a company, with close to 50 employees (80% of which are females) based in Abuja, where my sister works. Some of staff have spent upto 10 years and my sister just spent 4 years now, but the Managing Director has refused to enrol them for the mandatory pension scheme, even though it is stated in her letter of employment, i.e. to register her for the scheme.

At a point, a female-based NGO wrote to the company mandating it to register its staff for the pension scheme, the MD grudgingly started the process, by bringing forms for the staff to fill, but later stopped when it appeared that he must have settled with the NGO. Since he stopped the process, they have not heard anything from the NGO again.

And the situation the staff find themselves is that they are afraid to confront the company, as the MD fires staff at will, especially when you discuss issues like this with him. The staff live in fear and are at the mercy of the MD who runs the company as it pleases him, even when it negates professional and etnical standards.

Tell your sister to write an anonymous letter to National pension commission HQ Abuja disclosing all these. The company will be forced to pay. If he refuses, they will charge him to court.

medacares:


Tell your sister to write an anonymous letter to National pension commission HQ Abuja disclosing all these. The company will be forced to pay. If he refuses, they will charge him to court.

Correct

I don't understand people with this 'penny wise, pound foolish mentality' . The day his luck will run out, he would blame all what not..

report the organization to pencom.. they will process it for him

Just walk to Brèkétè Family, with them that issue is completely settled. Our Ordinary President(Ordinary Ahmed Isa) will just swing his lawyers to action with no delay. FOC..
No charge all...

He fights for ordinary Nigerians. He is a no-nonsense man. It's is crystal clear that the MD has given those people some *closemouth* offering.

1.Send a petition to pencom
2.or tweet them @PenComNg
3. Tweet @pensionissues
They will pick up from there and the issue can be resolve in less than a week.
All the best.

Melahou:



LIRS and not FIRS

All you care about is to fill up the front sit roll , yet you don't understand a thing the poster was saying .


Lagos internal revenue service for an Abuja company . Dont lie it was a mistake because you were trying to correct someone .

Lol and here I am praying that my employer can stop deducting pension and add it back to my salary. The truth is, except you're working for a federal government agency pension payment and deduction is needless! .
If you don't know how to save money now, don't think your pension that you can't have access to till you're 50+ will do you any good.

LEARN to save on your own and create investment plans for yourself.

Sometimes I look at my ibtc pension balance and it just pains me that I can't access it till I'm 50+. And I'm sure by then I'll have to go through 7 hills and 7 Valleys and mountains to get even half of it, because those pension schemes won't just part with it that easily...

Pension is a big scam!

micklplus:


Don't generalise. The reformed pension act 2014 is trusted and tested

Okay