By Taiye Olayemi
Lagos, Dec. 18, 2025 – The National Pension Commission (PenCom) has escalated its stance against non-compliant employers, issuing a stark ultimatum: remit employee pension contributions in full and on time, or face unprecedented regulatory and legal consequences. This warning, delivered directly to media organisations and other defaulting sectors, signals a critical turning point in Nigeria’s pension enforcement landscape.
Speaking at the 2025 PenCom Media Conference in Lagos, the Director-General, Ms. Omolola Oloworaran, outlined a two-pronged strategy. While engagement remains the initial approach, she made it clear that PenCom’s patience is wearing thin. “We have started engagement and I am hoping that by next year we will begin to see positive results,” Oloworaran stated. “However, where compliance fails, tougher measures will follow. Non-remittance of pensions should frankly be a criminal offence, and we are actively working to reflect this in the forthcoming amendments to the Pension Reform Act.”
This shift from persuasion to the threat of criminal liability represents a seismic change. For employees, non-remittance isn’t just an administrative lapse; it’s a direct threat to their future financial security. When employers withhold these funds, they are essentially stealing from their employees’ retirement savings, eroding compound growth and leaving workers vulnerable in old age.
Beyond Enforcement: A Blueprint for Systemic Reform
The conference revealed that PenCom’s agenda extends far beyond punishing defaulters. The commission is pursuing a comprehensive overhaul designed to build trust, improve efficiency, and ensure sustainability across the pension ecosystem.
Key initiatives announced include:
- Accelerated Regulatory Reviews: PenCom will no longer operate on a multi-year review cycle. Oloworaran announced that parts of the newly introduced investment regulations are already being revised based on stakeholder feedback, signaling a more dynamic and responsive regulatory approach.
- Direct Public Engagement: Starting in Q1 2026, PenCom will initiate periodic media sessions and direct forums to address public complaints and demystify pension processes for everyday Nigerians.
- Enhanced Retiree Protection: A new Customer Relationship Management (CRM) system is in development. This platform will allow retirees to lodge complaints directly against their Pension Fund Administrators (PFAs), with PenCom maintaining full oversight to ensure swift resolution. This system, slated for a full rollout in 2026, aims to drastically improve accountability and service delivery.
- Parity for Police Pensions: In a significant move, PenCom is drafting proposals to align the retirement benefits of the Nigeria Police Force with those of the military, aiming to resolve a long-standing disparity and boost morale within the force.
Industry Perspective: Building on Recent Successes
Mrs. Anthonia Ifeanyi-Okoro, Acting Managing Director of the Pension Fund Operators Association of Nigeria (PenOp), provided context on the industry’s progress. She highlighted the transformative impact of the “Pension Boost 1.0” initiative, which has successfully unblocked bottlenecks in processing accrued pension rights—a historical pain point that left many retirees in limbo.
“The transition to what we call Pension Revolution 2.0 is gaining momentum,” Okoro explained. “This is significantly bolstered by the Federal Government’s commitment of N758 billion in bonds to cover accrued rights. This financial backing is a powerful testament to the government’s dedication to pension sustainability and restoring public confidence.”
The 2026 Mandate: Trust, Returns, and Rights
Looking ahead, DG Oloworaran crystallized PenCom’s core mission for the coming year: “For 2026, we plan to continue building trust in the system, improving investment outcomes, and ensuring that Pension Fund Administrators are on a path to deliver inflation-plus returns to retirees and RSA contributors. Most importantly, we will continue to defend the rights of every retiree and contributor.”
Conclusion: PenCom’s message is unequivocal. The era of leniency for pension defaulters is over. Employers are now on official notice to regularize their remittances or risk severe sanctions, including potential criminal prosecution. Simultaneously, the commission is laying the groundwork for a more robust, transparent, and beneficiary-centric pension system. For Nigerian workers, this reinforced stance is a vital safeguard for their future, making compliance not just a legal obligation for employers, but a critical component of national economic security.
PTB/FAA
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Edited by FolasadeAdeniran
