PenCom Urges TUC Support for Pension Compliance in Nigeria

On Tuesday, during a roundtable discussion in Lagos, Ms. Omolola Oloworaran, the Director General of the Pension Commission (PenCom), solicited the support of the Trade Union Congress (TUC) and other trade unions to enforce compliance with pension regulations.

She emphasized that non-compliant employers would face significant repercussions, stating that there would be "no hide place" for those failing to implement adequate pension plans for their employees. Oloworaran highlighted the ongoing challenges in ensuring that formal sector employers comply with pension requirements, asserting that PenCom would utilize every available instrument to make life uncomfortable for non-compliant employers.

The discussion was part of a broader strategy to engage stakeholders in ensuring that Nigerian workers retire with dignity. Comrade Festus Osifo, TUC President, expressed support for PenCom, acknowledging its role in transforming the pension sector and providing hope for dignified retirement for Nigerian workers.