NON-REMITTANCE OF PENSION FUNDS

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NATIONAL Pension Commission, PenCom, yesterday in Lagos said it was, in collaboration with Economic and Financial Crimes Commission, EFCC, compiling for prosecution a list of employers who have not been remitting deducted pension contributions. DG, National Pension Commission, Mrs Chinelo Anohu-Amazu According to the agency, the move is to arrest the growing cases of unremitted pension fund. Director-General of PenCom, Mrs Chinelo Anohu-Amazu, who disclosed this at a briefing, ahead of the third edition of World Pension Summit, WPS, taking place between September 27 and 28, insisted that non-remittance of deducted pension contributions of workers was an economic crime. She also disclosed that pension assets in Nigeria had grossed about N6 trillion in the past 12 years of PenCom’s existence. Decrying non-remittances by employers, Anohu-Amazu said: “Non-remittance is on two fronts. Those who are not contributing at all and those who have their contributions deducted from their salaries and not sent to their Retirement Saving Accounts, RSA. “That in itself is a financial crime.  We are working very closely with EFCC and there is collaboration. We are compiling the list of those that are not remitting because that is theft. “We receive calls from individuals showing proof of deductions from their salaries and when they look at statements from their Pension Fund Administrators, PFAs, it does not tally. This in itself the beauty of the contribution pension scheme because you can check while you are still working than when you are already retired. ‘’There are a lot of efforts being made and we are in control of the data and verification of those who are not remitting what they have deducted from the salaries of the workers. “Those who have their account opened and not funding those accounts or those who do not have RSA, I think we have engaged a lot of recovery agents and the issue is that when we find out, you are not only liable for what you have not remitted, you’re  also liable for any interest that may have accrued to that amount. “So, this is what is done plus all the attendant liabilities. It is work in progress and we see it reducing as we go ahead, but we are also not in belief that there will be a total obliteration becausethe human mind is designed always to do things they think they can get away with. “Again, we have the compliance and enforcement department working with external recovery agents and more lovingly, the EFCC. They- can get you anywhere now and anytime.” On the pension profile, she said: “In its 12 years of existence, PenCom has painstakingly built a strong, transparent and dependable pension system in Nigeria, which is overseen by a dynamic and efficient regulatory structure.”

Read more at: http://www.vanguardngr.com/2016/08/non-remittance-pension-funds-pencom-efcc-compiling-list-defaulting-employers-prosecution-pencom-dg/

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Reviewed by the BabyCenter Medical Advisory Board Updated April 2017 IN THIS ARTICLE Ovulation problems Endometriosis Poor egg quality Polycystic ovarian syndrome Tubal factors Unexplained fertility problems Eleven percent of reproductive-age couples in the United States have trouble conceiving or sustaining a pregnancy. About one-third of these cases are due to female fertility problems, one-third to male fertility problems, and the rest to factors involving both partners or to unexplained causes. If you've had regular, unprotected sex for more than a year without conceiving (or six months if you're older than 35), see your doctor. About 65 percent of couples that get treatment for a fertility problem are eventually able to have a successful pregnancy, according to Resolve, the national infertility association. The success rates below are based on averages gathered from large groups of patients. Each couple is unique, so think of the success rate for any treatment as a general snapshot, not a prediction of your chances of having a baby. Read on to learn more about female infertility and available fertility treatments. Ovulation problems An ovulation problem occurs when eggs don't mature in the ovaries or when the ovaries fail to release a mature egg. This is sometimes known as premature ovarian failure. Ovulation problems are common in women with infertility. Possible symptoms: Absent or infrequent periods, unusually light or heavy menstrual bleeding, or lack of such premenstrual symptoms as bloating or breast tenderness. Possible solutions: Managing body weight if it's too low or too high, taking fertility drugs (with or without artificial insemination), and having in vitro fertilization (IVF). Success rates: Thirty to 40 percent of women taking clomiphene citrate to induce ovulation become pregnant by the third treatment cycle. 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Polycystic ovarian syndrome Polycystic ovarian syndrome (PCOS) is a condition in which small follicles in the ovaries don't develop into the larger, mature follicles that release eggs. It's also characterized by hormone imbalances and unpredictable ovulation patterns. Possible symptoms: irregular periods, excessive hair growth, acne, and obesity. Possible solutions: Lifestyle modifications (like diet and exercise), clomiphene citrate, injected fertility drugs, ovarian drilling (a surgical procedure that can trigger ovulation), and IVF. In women with glucose intolerance, the diabetes drug metformin (Glucophage) can also help restore regular ovulation. advertisement | page continues below Success rates: Many overweight patients who lose 5 to 10 percent of their body weight start ovulating regularly. For women with PCOS who take clomiphene citrate, the pregnancy rate per treatment cycle is about 18 percent. 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Reviewed by the  BabyCenter Medical Advisory Board Updated April 2017 Ovulation problems Endometriosis Poor egg quality Polycystic ovarian syndrome Tubal factors Unexplained fertility problems Eleven percent of reproductive-age couples in the United States have trouble conceiving or sustaining a pregnancy. About one-third of these cases are due to female fertility problems, one-third to male fertility problems, and the rest to factors involving both partners or to unexplained causes. If you've had regular, unprotected sex for more than a year without conceiving (or six months if you're older than 35),  see your doctor . About 65 percent of couples that get treatment for a fertility problem are eventually able to have a successful pregnancy, according to Resolve, the national infertility association. The success rates below are based on averages gathered from large groups of patients. Each couple is unique, so think of the success rate for ...
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