[TOP STORY] PenCom: Disengaged workers withdrew N12.72bn from pension fund in Q1 | TheCable
The disbursement data is contained in the agency’s Q1 report for the year.
“The department granted approval for the payment of N12,717.90 million to 13,126 RSA holders under the age of 50 years, who were disengaged from employment and unable to secure another job within four months,” the report said.On the sectoral withdrawal approvals, PenCom said the federal and state governments had 259 and 211 ex-workers respectively, while the private sector had a total of 12,656 in Q1.
“Demand notices were issued to defaulting employers whose pension liabilities were established by the recovery agents. During the quarter, the sum of N384.28 million comprising principal contributions and penalties was recovered from 34 defaulting employers,” the agency said.
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