Wednesday 15 April 2015

Firms eyeing govt's businesses injected about N20bn into pension fund in 2014

Chuks Udo Okonta 

About N20 billion pension contributions was remitted in 2014 by private organisations granted compliance certificates by the National Pension Commission (PenCom) to bid government's businesses this year.

PenCom disclosed this in publication on its website, which showed the number of firms issued compliance certificates in 2015.

According to the pension industry regulator, 1042 firms were issued certificates in 2015 as against 762 in 2014, an indication that more firms have embraced the Contributory Pension Scheme (CPS).

PenCom noted that Julius Berger Nigeria Plc, which has 13756 workers, remitted the highest fund amounting to N7.09 billion. The firm was followed by Reynolds Construction Company Limited, with 5228 workers and N624.80 million.

Others are: Price Waterhouse Coopers Limited, 765 workers, N521.22 million; Dantata & Sawel Construction Limited, 3834 workers, N317.69 million; Ernst & Young, 322 workers, N235.66 million; Mothercat Limited, 2494 workers, N186.48 million; Systems Applications Products Nigeria Limited, 59 workers, N120.85 million; AIICO Insurance Plc, 338 workers, N108.43 million and Leadway Assurance Limited, 380 workers, N100.11 million.

No comments: