About 353 companies have been cleared by the National Pension Commission (PenCom) to bid for federal government’s contracts this year. The companies have been issued compliance certificate as at March 23, 2018, for complying with the Pension Reform Act (PRA) 2014. The firms include: Reynolds Construction Company Limited, which has 3, 643 employees and contributed N726.43 million into the pension funds; Leadway Assurance Company Limited with 283 employees, contributed N133.02 million into the fund; Ghazi Shipping and Trading Company Limited has five employees and contributed N3.13 million; while AIICO Insurance Plc has 264 employees and contributed N135.11 million into the pension assets. Moreover, Cornerstone Insurance Plc with 204 employees, contributed N132.20 million, Linkage Assurance Plc with 231 employees paid N65.50 million; NSIA Insurance Limited who has 99 employees, contributed N27.95 million; Solid Trust Insurance Brokers Limited with nine staff equally paid N5.03 million into the pension assets; Risk Analyst Insurance Brokers Limited has nine employees and contributed N2.42 million; even as Prorisk Insurance Brokers Limited, with nine staff, paid N2.42 million and Image Brokers Limited with 16 employees, contributed N1.51 million into the pension fund.
Lasaco Assurance Plc with 175 employees, contributed N65.63 million; Wib Insurance Brokers Limited has three staff, but contributed N855,499.58 into pension fund; and Denos Insurance Brokers Limited with seven staff, contributed N660,240.12. Also, Geo-Chem West Africa Limited having 19 employees paid N3.86 million pension of its workers in the outgone year. Setraco Nigeria Limited with 2839 employees, contributed N455.05 million pension; North South Power Company Limited with 331 employees paid N114.65 million pension; Oriental Energy Resources Limited who has 43 employees paid the pension of its workers to the tune of N41.59 million, among others. PenCom, therefore, appealed to government’s Ministries, Departments and Agencies (MDAs) to support the initiative of issuing certificate of compliance to deserving companies, adding that MDAs often times accept spurious evidence of compliance from contractors and being reluctant in ensuring that companies bidding for works fulfilled their obligations relating to pensions as enunciated in the Public Procurement Act 2007. PenCom noted that with effect from January 2012, private sector employers that complied with the provisions of the PRA 2014 were issued annual Certificates of Compliance, and that to be issued with the certificate, employers are required to submit evidence of remitting contributions to the Retirement Savings Accounts (RSA) of their employees as well as show evidence of valid group life insurance policy. “All MDAs are required to demand for the Compliance Certificate as a requirement for transacting any business with a private sector organisations. Appropriate circulars have been issued to all MDAs in that regard,” it pointed out.