Pension: Media, hospitality, hospital top list of non-compliance sectors

The sectors that have issues of non compliance with the required percentage to the Pension Fund Administrators (PFAs) are the media, hospitality and the hospitals.
This was made known by Regional Manager, North Central region of Trustfund Pensions Lmt, Mr Morris Ogar during a one-day interactive session with members of Labour Correspondents Association of Nigeria (LACAN) in Abuja recently.
Ogar also said some employees do not show interest in their retirement issues, stressing that such employees faced challenges after retirement.
According to him, there is little an operator can do about employers that are not remitting, rather it is the responsibility of the regulator, which is Pencom to sanction any of such employers.
He said: “We try to create awareness through forums with the media, retirees, employers and any new organisation that have employees.
“We go and educate them on the operation of the scheme, these are some of the efforts we have been making. Pencom too as a regulator, has been doing as much but the issue is that people do not attach much importance to the scheme until they realised when they retired because that is where they are going to fall back on having stopped earning salary.
“But before then, people show very little interest and it is a general challenge we have in the industry and this one of the challenges we have. 
“The other challenge is that some employers do not comply in terms of remittance of pensions contributions, some do not deduct from their employees and their reasons are that the employees are complaining that their salary is too small and if deducted it will become too small. But I know those are just excuses because the employers know that they are to pay 10 per cent of employee’s contributions.
“Generally, the sectors that have issues of non-complacence are the media, hospitality industries as well as the hospitals, especially the small hospitals because they have very high labour turnover.
“We, as operators can persuade them to comply as we do not have the power to sanction them, but the regulator which is pencom and they are doing that”