The National Pension Commission, PenCom said that recoveries from employers that default in remitting pension contributions of their employees, rose by 503.7 per cent to N972.12 million in Q125 from N161.03 million recovered in Q424.
The Commission also disclosed that the defaulting employers coughed out N381.88 million as penalties for default in Q125. This represents a 54.6 per cent increase from N246.94 million paid as penalties in Q424.