The National Pension Commission (PenCom) has recovered more than ₦3 billion in outstanding pension contributions from employers in Nigeria’s electricity sector as part of an intensified campaign to enforce compliance with the Contributory Pension Scheme (CPS).
The commission said the recovered funds have been credited into the Retirement Savings Accounts (RSAs) of affected employees in line with the provisions of the Pension Reform Act (PRA) 2014.
PenCom described the recovery as a major step in its efforts to ensure that employers fulfil their statutory obligations to workers, noting that the exercise was carried out in collaboration with the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
According to the commission, the successful recovery reflects the growing effectiveness of its partnership with the anti-corruption agency in tackling the non-remittance of pension deductions and protecting employees’ retirement benefits.
The collaboration between both organizations is based on a Memorandum of Understanding signed in October 2025 to strengthen the investigation of pension-related violations, facilitate the recovery of unpaid contributions and improve enforcement of the Pension Reform Act.
PenCom disclosed that the ICPC is currently investigating additional private sector employers referred by the commission over alleged breaches of pension regulations, expressing optimism that more recoveries would be recorded as the investigations continue.
Under the Pension Reform Act 2014, employers are required to deduct pension contributions from workers’ salaries and remit them into their Retirement Savings Accounts within seven working days after salaries are paid.
The commission noted that employers who fail to comply with the law risk enforcement measures, including the recovery of outstanding contributions, payment of penalties and possible prosecution where necessary.
PenCom urged employers, particularly those in the private sector, to settle all outstanding pension liabilities and comply fully with the provisions of the law to avoid regulatory sanctions.
The commission reiterated its commitment to strengthening compliance with the Contributory Pension Scheme and ensuring that retirement savings deducted from employees’ salaries are remitted promptly to safeguard workers’ financial security after retirement.
