This is to remind all employees in the Public Service of the Federation, Federal Capital Territory and States that have implemented the Contributory Pension Scheme as well as private sector, that it is their rights; under Section 4(5) of the PRA 2014 to have Life Insurance Policy taken on their behalf by their employers for an insured amount of not less than three (3) times their annual total emolument.
Please note that employees are also required to ensure that all pension contributions deducted from salaries and/or contributed by employers are remitted to the Pension Fund Custodian (PFC) by the Employer not later than seven (7) working days from the date of payment of their salaries.
Employees are therefore advised to report to the Commission where the employer fails to:
For further enquiries, please contact:
National Pension Commission
Plot 174, Adetokunbo Ademola Crescent, Wuse II
PMB 5170 Wuse