Satioshi:


Very correct. The PFAs do not have the powers to compel defaulting employers to pay.The Commission has a compliance department that compels them to pay not only the deducted contributions but also a penalty of 2% of the deducted sum to the RSA(Retirement savings account) holder for every 14 days it is withheld after deduction and 1% of the same amount to the Commission. So you and your colleagues should write a letter to the Commission and send it via email on info@Pencom.gov.ng or submit it at the South West regional office at 88A Oduduwa Crescent, Ikeja Lagos or call 08055998808. Remember to attach your RSA statements and appointment and exit letters as proof of the under-remittance.

ezebunafo:
Please nairalanders I really need your advice on this,what can be done when a former company that sacked many staff,and some resigned willingly is yet to pay about 23 months unremitted pension funds to the affected staff's R.S.A ?when confronted they claimed that states are owing too.

Satioshi:


Very correct. The PFAs do not have the powers to compel defaulting employers to pay.The Commission has a compliance department that compels them to pay not only the deducted contributions but also a penalty of 2% of the deducted sum to the RSA(Retirement savings account) holder for every 14 days it is withheld after deduction and 1% of the same amount to the Commission. So you and your colleagues should write a letter to the Commission and send it via email on info@Pencom.gov.ng or submit it at the South West regional office at 88A Oduduwa Crescent, Ikeja Lagos or call 08055998808. Remember to attach your RSA statements and appointment and exit letters as proof of the under-remittance.

Ariel20:


Practical answers bro

What is there to pray about when we have regulatory bodies?

My God. is this what Christianity is about?

Imagine Jesus was on earth and on NL. Do you think he would ask her to pray or apply wisdom and give her practical steps to resolve the issue cos it's her entitlement.

We Christians need to be more intelligent in our approach to issues.

youngwarlocks:


blood is hot??........ he should pray then take steps are you okay now?

I would not expect him to pray and then sit down, he has to take necessary steps too. once again Happy Sunday

olujaidi:


They should at least start the battle

MathsChic:
Pray they don't know anyone in those agencies mentioned, else your petition go just enter voice mail, lol.
Seriously though, you need to check your contract. Did they say they'll pay? If yes, engage a lawyer.

Bishop:


Report to FIRS, pencom is a toothless bulldog, I had the same issue years back, i even petitioned through the office of the attorney General of Lagos state to my dismay nothing was done. i have stopped paying tax until it's sorted put.

May i ask if your MD is a woman ?

David0:


There must be an evidence of an offer letter issued by the employer indicating terms n conditions, including salary n other benefits which is usually broken down.
If pension is not inclusive, he shud not bother. Even if pension is inclusive, does he still hv d offer letter cos d company can deny dey don't know him.

Bishop:


Report to FIRS, pencom is a toothless bulldog, I had the same issue years back, i even petitioned through the office of the attorney General of Lagos state to my dismay nothing was done. i have stopped paying tax until it's sorted put.

May i ask if your MD is a woman ?

David0:


There must be an evidence of an offer letter issued by the employer indicating terms n conditions, including salary n other benefits which is usually broken down.
If pension is not inclusive, he shud not bother. Even if pension is inclusive, does he still hv d offer letter cos d company can deny dey don't know him.

ezebunafo:
Please nairalanders I really need your advice on this,what can be done when a former company that sacked many staff,and some resigned willingly is yet to pay about 23 months unremitted pension funds to the affected staff's R.S.A ?when confronted they claimed that states are owing too.

David0:


There must be an evidence of an offer letter issued by the employer indicating terms n conditions, including salary n other benefits which is usually broken down.
If pension is not inclusive, he shud not bother. Even if pension is inclusive, does he still hv d offer letter cos d company can deny dey don't know him.

ezebunafo:
I have every document to back it up,the pension is stipulated in my call up later

harveyspec:


1.what happens in a case where pension is not included in ones contract/employment letter but pension deduction are made monthly with payslip as proof

Also some months have been paid into the RSA

Can one still fight this even though the contract doesn't talk about pension

2.what can one also do in a situation where there is no TIN or tax clearance reciept from ones employer despite the fact that tax deductions are being made. I have been with them for 8yrs.


They have refused to even tell us the percentage used in calculating our tax & my tax is high compared to my pay

CC
Adesiji77
Satioshi
David0

Adesiji77:


I will address question 1: Your employment letter does not have to mention "pension".

According to the Pension Reform Act 2014, in addition to all employees in the public sector, private organizations with employees numbering 15 and above are expected to be part of the contributory pension scheme. Fortunately, you have payslips that indicate that pension deductions are being made from your monthly income.

Since you are still working with the organization, I suggest that you approach the matter with discretion and not "fight" them for now unless you have gotten another job. After all, you have documentary proof that deductions are being made from your income. That should suffice for now. You live to fight another day...

cc: Cecegal

slap1:


I have some money in my RSA account. Do you know when I'll be eligible to access the money and how to go about it?

Adesiji77:


I will address question 1: Your employment letter does not have to mention "pension".

According to the Pension Reform Act 2014, in addition to all employees in the public sector, private organizations with employees numbering 15 and above are expected to be part of the contributory pension scheme. Fortunately, you have payslips that indicate that pension deductions are being made from your monthly income.

Since you are still working with the organization, I suggest that you approach the matter with discretion and not "fight" them for now unless you have gotten another job. After all, you have documentary proof that deductions are being made from your income. That should suffice for now. You live to fight another day...

cc: Cecegal

nmreports:


It's actually 3 and above but I know they mentioned 15. Don't really know how to explain so won't argue further but you seem very enlightened.

Also @ Op, FIRS body is always hot when they hear such things as this so kindly visit one of their offices.
PENCOM is too bureaucratic.

Satioshi:

If you are still below 50 and have exited your job, you have to wait for four months to be able to access 25% of your total balance. You would require an exit letter( depending on the mode of exit, an acceptance of resignation or termination letter), a birth certificate or age declaration, valid means of ID, 1 passport photo and the details of your bank account.

If however you are 50 and above, you apply immediately after retirement and get the total value if your balance is 550, 000 or less, it is called Enbloc.Where it is more than that,you apply for Programmes withdrawal. A lump sum of between 25%-50% is paid based on a caluculation using factors like age, sex (hypothetical life expectancy of 82 for males and 84 for females) and the last salary before retirement. The rest is paid monthly. You can also opt for Annuity which is offered by life Insurers.

Adesiji77:
@nmreports: The Act did mention that private organizations with minimum of 3 employees are eligible to be part of the CPS but it is not mandatory for them to do so.

However, those that have manpower of 15 and above are required to be part of the scheme.

ezebunafo:
I have every document to back it up,the pension is stipulated in my call up later

harveyspec:


let's assume it wasn't included in the contract letter, won't they be opening up to liabilities cos the pension makes it mandatory for all companies to make pension deductions

I know the law is an ass but I just wanna know

harveyspec:


1.what happens in a case where pension is not included in ones contract/employment letter but pension deduction are made monthly with payslip as proof

Also some months have been paid into the RSA

Can one still fight this even though the contract doesn't talk about pension

2.what can one also do in a situation where there is no TIN or tax clearance reciept from ones employer despite the fact that tax deductions are being made. I have been with them for 8yrs.


They have refused to even tell us the percentage used in calculating our tax & my tax is high compared to my pay

CC
Adesiji77
Satioshi
David0

OperaMini1:


Send your email address, I'd send you a template with which you could calculate your tax by yourself .

harveyspec:


harveyspecter511@gmail.com

OperaMini1:

Check your email.

OperaMini1:


Send your email address, I'd send you a template with which you could calculate your tax by yourself .