Iyobasogie Victor, an ex-employee ADAMAC Marine Services Limited located in Rivers State, has accused the company of failing to remit his 39 months contributory deductions to his pension fund account domiciled with Trustfund Limited.

Victor, who worked for the company as Able Seaman, told FIJ that the maritime company confirmed his appointment in 2013 and this conferred on him benefits and privileges as a formal employee.

Based on his conversion from a temporary worker to a permanent one, he subscribed to a pension scheme on the instruction of the firm, placing the company under the obligation of remitting his pension funds directly to the pension administrator.

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“I worked at ADAMAC Marine Services Limited, a subsidiary of Group of Companies, as a casual employee for some years before my appointment was confirmed on July 9, 2013. Added to my confirmation was a right to have a pension account. Therefore, I opened a retirement savings account with Trustfund Pensions Plc,” Victor explained to FIJ.

“My employment with the company lasted until October 2016 when the management implemented a redundancy policy and laid off some staff, including me.”

The former seaman, resident in Edo State, further told FIJ that he later realised that the company was not sending his contributory pension funds to his pension account.

“Each month, the company was obligated to remit N23,000 to my pension administrator. However, I didn’t get more than three credit alerts from Trustfund. When I complained, my employer promised to resolve it.”

“However, my hope of using the funds for a reasonable after-work venture was dashed when the pension revealed to me that I only had N70,222 in my account. My heart sank and absolutely let down.”

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According to Victor, the pension fund managers told him that the said N70,222 standing to his credit was for three months deductions from his employer, leaving 36 months unremitted.

Speaking further, Victor said, “The company issued a lay-off cheque in my name after they disengaged me. On May 30, 2018, when I went to collect the cheque, I explained my pension fund disparity to Samson Dietespiff, the finance officer. He demanded me to pay some money. I then parted with N5000 cash on the spot and sent another N5,000 to his bank account later. He stopped answering his calls afterwards and he has done nothing till now.”

“The company did not transmit 36 months of my pension money, totaling N828,000, deducted from my salary to Trustfund. I never thought it would play out this way.”

“Coupled with the fact that I was just disengaged, the net effect of the development took a toll on my health and family’s survival. Up till now, I am still not in good shape and I want my money seriously.

“I have pleaded many times with the company to release my money, but they are not forthcoming. I worked for this money and deserve to get it. I am lagging in my home responsibility and have resorted to daily commercial transport business.”

In a letter of conversion from temporary to permanent employment given to the ex-seaman and sighted by FIJ, the company explicitly stated that he was entitled to “monthly contributions to pension scheme”.

ADAMAC RESPONDS

While responding to FIJ’s phone call on Monday, Dietespiff denied knowledge of the 55-year old Victor and any challenge related to his unremitted pension contributory funds.

“He might not have followed the right channel to resolve his complaint,” Dietespiff told FIJ. “He should call me. If he comes to me, I would listen to him and look through case. It is an organisation matter. What he is doing’s doing by involving you (FIJ) would not help him. He won’t get anything.”

Corporate Affairs Commission website indicated that the marine company was inactive when FIJ checked on Monday. CAC explains what this means: “Where a registered entity has not filed its annual returns up to date, the status of the entity is indicated as ‘INACTIVE.”

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WHAT THIS MEANS ACCORDING TO NATIONAL PENSION COMMISSION

The Contributory Pension Scheme mandates an employer to remit an employee’s monthly deductions to their pension fund administrator within seven days from the date their salaries are paid. “The employer is obliged by law to deduct and remit pension contributions into the employee’s RSA not later than 7 working days from the date salaries are paid.”

As a consequence, the Pension Act says a defaulting employer would be compelled to pay the remittance arrears as well as 2% of the unpaid contributions. “PenCom would mandate such employer to make the remittance already due, in addition to paying penalty, which would be at least 2% of the total unpaid contributions. Both the outstanding contribution and penalty would be paid into the employees’ RSAs.”

FIJ emailed Trustfund Pensions for comments on April 24, but they had not responded as of press time.