Invitation for Expression of Interest for the Provision of Services of Recovery of Outstanding Pension Contributions and Interest Penalty from Defaulting Employers at National Pension Commission (PenCom)

National Pension Commission

Invitation for Expression of Interest for the Provision of Services of Recovery of Outstanding Pension Contributions and Interest Penalty from Defaulting Employers

The National Pension Commission (PenCom) is desirous to engage the services of Recovery Agents to recover outstanding pension contributions and interest penalty from defaulting employers. Accordingly, PenCom invites proposals from suitable firms for providing the services of Recovery Agents.

Scope of Service

The scope of service is to recover outstanding pension contributions and interest from employers across the country. This would entail the following:

1. Serve demand notice on defaulting employers requesting for payment of outstanding pension contributions with interest penalty within a specified deadline;
2. Reconcile outstanding pension contributions with employers where necessary;
3. Follow up with the defaulting employers to ensure remittance of outstanding pension contributions with interest penalty to the employees’ RSAs;
4. Forward the evidence of remittance made by defaulting employers to the Commission;
5. Submit progress reports to the Commission on all recoveries made and challenges encountered; and
6. Institute legal action on recalcitrant employers that failed to remit all outstanding pension contributions with the interest penalty to the RSAs of their employees.

Fees for the Recover Agents

The Fees to be paid to the recovery agents would be performance based.

General Requirements

Interested Accounting firms, Law firms, Debt Recovery Comapnies and or consortium of Accounting and Law firms and other relevants firms wishing to express interest in the above mentioned services should submit the following documents:

1. Evidence of registration with Corporate Affairs Commission:
2. Certified true copy of Memorandum and Article of Association:
3. Evidence of compliance with the provision of the Pension Reform Act 2004;
4. Evidence of payment of tax for the last three (3) years: and
5. Evidence of payment of tax for the last three (3) years: and
6. Evidence of VAT registration and remmitance.

Specific Requirements

(vi)       Comprehensive company profile including CVs of key personnel.

(vii)      Current Company’s audited accounts or statement of accounts duly stamped by a firm of Chatered Acounatnts

(viii)     Evidence of membership of relevant professional bodies/association: and

(ix)     Company’s registered address, functional contact email address, and GSM phone number(s).

Submission

The submission should be made in a wax sealed envelope boldly marked at the top left corner: “Expression of Interest to provide Recovery Agents Services” and should reach the address below not later than 30th September 2011 by 3.00 pm:

Director General,

National Pension Commission

Plot 174 AdetokumboAdemola Crescent

Wuse ll,Abuja

Additional Information

1. The advertisement for Expression of Interest (EOI) shall neither be construed to be a commitment on the part of the Commission nor shall it entitle any firm to make any claim and/or seek any indemnity from the Commission by virtue of any response to this advertisement.
2. The Commission reserves the right to reject any EOI.
3. The Commission reserves the right to take final decision on any of the documents recieved in the EOI.
4. Only shortlisted firms will be contacted.
5. The commission shall not enter into any correspondence with any succesful firm.

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