The National Pension Commission (PenCom) has launched an initiative to reclaim over N1.3 billion in unpaid pension contributions owed to journalists by newspaper companies across Nigeria.
This was revealed by PenCom’s Director-General, Ms. Omolola Oloworaran, during a visit to the Nigerian Press Council in Abuja.
She condemned the widespread failure of media organizations to comply with the Pension Reform Act 2014, which requires employers to transfer pension deductions to employees’ Retirement Savings Accounts.
Oloworaran emphasized that journalists deserve a dignified retirement and that media houses must set a standard, noting that pension contributions are both a legal and ethical responsibility. The 2014 Act requires employers to remit contributions within seven days of salary payments.
To enforce this, PenCom has appointed recovery agents to audit non-compliant organizations, calculate outstanding debts, and apply penalties. In a groundbreaking step, PenCom and the Nigerian Press Council have created a joint task force to ensure compliance in the media industry, the first such targeted effort.
Dr. Dili Ezughah, Executive Secretary of the Nigerian Press Council, promised to engage stakeholders like the Nigerian Union of Journalists and the Nigerian Guild of Editors to tackle the issue decisively.
He described the initiative as a critical step toward securing journalists’ financial futures, addressing the retirement insecurities caused by employer neglect.
WHAT YOU SHOULD KNOW
The PenCom initiative to recover N1.3 billion in unpaid pension contributions for journalists is a bold and timely intervention that addresses a critical gap in Nigeria’s pension system.
By combining regulatory enforcement, strategic partnerships, and moral advocacy, PenCom is tackling a systemic issue.
The initiative’s success could redefine labor practices in Nigeria’s media sector and set a precedent for other industries, ensuring that workers, particularly those in precarious professions like journalism, can retire with the dignity they deserve.
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