"N1.3 Billion Pension Debt: PenCom Exposes Unpaid Dues Owed to Retired Journalists as Media Houses Face Urgent Compliance Call"

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 The National Pension Commission (PenCom) has disclosed that newspaper organizations in Nigeria owe over N1.3 billion in unpaid pension contributions to retired journalists. 



 This significant revelation was made by the Director-General of PenCom, Omolola Oloworaran, during a recent visit to the Nigerian Press Council (NPC) in Abuja. The issue of unpaid pensions has raised serious concerns regarding compliance with the Pension Reform Act 2014 (PRA 2014) among media establishments, prompting urgent action from regulatory authorities.


Widespread Non-Compliance with Pension Obligations

Oloworaran expressed her alarm over the widespread non-compliance with the PRA 2014, which mandates that employers remit monthly pension contributions into employees' Retirement Savings Accounts (RSAS) no later than seven days after salary payments are made. Many media houses have failed to adhere to this legal requirement, which not only undermines the financial security of journalists but also violates their rights to receive the pensions they have earned through years of service.

The PenCom Director-General emphasized that journalists play a crucial role in society, ensuring accountability and transparency across various sectors. Therefore, media organizations must fulfil their pension obligations to their employees, allowing them to retire with dignity. She stated, "The media must lead by example. Journalists deserve to retire with dignity," highlighting the moral and legal responsibilities of employers in the media sector.

Strategic Collaboration for Recovery

In response to the alarming situation, PenCom and the NPC have entered into a strategic collaboration aimed at compelling newspaper organizations to settle their substantial pension liabilities. This partnership marks a significant step towards addressing the long-standing issue of unpaid pensions in the media sector. The collaboration is particularly noteworthy as it represents the first time such high-level engagements have been explicitly conducted targeting journalism institutions.

To enforce compliance, PenCom has assigned Recovery Agents to audit the accounts of defaulting media houses. These agents will determine outstanding pension debts and impose applicable penalties on organizations that fail to meet their obligations. This aggressive enforcement drive is part of PenCom's broader strategy to recover unpaid pension contributions across various industries, with a particular focus on the media sector.

Support from the Nigerian Press Council

Dr. Dili Ezughah, the Executive Secretary of the NPC, pledged the Council's full support in advocating for compliance within the media sector. He acknowledged the significant impact of unpaid pensions on the offer of journalists. He committed to rallying key stakeholders, including the Nigeria Union of Journalists (NUJ) and the Nigerian Guild of Editors, to confront this challenge head-on. Ezughah stated, "This is not just about policy; it's about the welfare and future of journalists in this country," emphasizing the urgency of the situation.

The establishment of a joint working group between PenCom and the NPC aims to ensure a speedy resolution of the issue, highlighting the collaborative effort to secure the financial futures of journalists. This initiative is crucial, as many journalists face uncertainty in retirement due to their employer's failure to remit pension contributions.

A Call to Action for Media Organizations

The revelations from PenCom serve as a wake-up call for media organizations to fulfil their legal and moral obligations towards their employees. The ongoing collaboration between PenCom and the NPC aims to ensure that journalists receive the pensions to which they are entitled, thereby safeguarding their financial future and promoting a more accountable media landscape in Nigeria.

As this situation unfolds, all stakeholders in the media industry must prioritize the welfare of journalists and adhere to the regulations outlined in the PRA 2014. The time for action is now, as the financial security of many journalists hangs in the balance. The commitment from PenCom and the NPC to address this issue is a significant step towards ensuring that journalists can retire with dignity and security, reflecting the value of their contributions to society.

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