NATIONAL Pension Commission, PenCom, is employing the services of agents to recover outstanding pension contributions and interest from about 2,616 defaulting employers across the country.

Specifically, the agents are to serve demand notice on defaulting employers requesting for payment of outstanding pension contributions with interest penalty within a specified deadline, reconcile outstanding pension contributions with employers where necessary and follow up with the defaulting employers to ensure remittance of outstanding pension contributions with interest penalty to the employees’ Retirement Saving Accounts, RSAs.

Also, the agents is to forward the evidence of remittance made by defaulting employers to the PenCom, submit progress reports to the Commission on all recoveries made and challenges encountered, institute legal action on recalcitrant employers that failed to remit all outstanding pension contributions with the interest penalty to the RSAs of their employees.

A statement from PenCom, engaged agents will be remunerated based of be performance.

To be considered for engagement, Interested Accounting firms, Law firms, Debt Recovery Companies and or consortium of Accounting and Law firms and other relevant firms wishing to express interest should submit the following documents, among others:”

Evidence of registration with Corporate Affairs Commission; Certified true copy of Memorandum and Article of Association;Evidence of compliance with the provisions of the Pension Reform Act 2004, Evidence of payment of tax for the last three years; and Evidence of VAT registration and remittance.”

The commission has for some times now battling recalcitrant employers over remittance of deducted pension contribution.

What is alarming is that the defaulting firms did not default for one month or two only; the phenomenon seems to have become more and more regular.