• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, June 6, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

PenCom Unveils Pension Remittance Platform To End Uncredited Contributions

by Mark Itsibor
2 months ago
in News
Pencom
Share on WhatsAppShare on FacebookShare on XTelegram

The National Pension Commission (PenCom) has announced the launching of pension contribution remittance system, a platform designed to optimise the process of remitting pension contributions into employees’ Retirement Savings Accounts (RSAs).

Advertisement

PenCom said the system was developed in collaboration with the Pension Operators’ Association of Nigeria (PenOp).

In a statement issued on Thursday, the agency said it has deployed approved payment solution service providers to enhance accuracy, efficiency, and transparency in pension contributions.

The introduction of the remittance system is said to be a response to the challenges frequently encountered by employers, including errors in contribution schedules and verification delays.

PenCom said it identified a challenge of uncredited pension contributions, primarily due to incomplete documentation from employers, which resulted in Pension Fund Administrators (PFAs) being unable to credit the RSAs of affected employees.

RELATED

Seven Tips On Best Tearjerker Movies

Seven Tips On Best Tearjerker Movies

8 minutes ago
Understanding The Flight Announcer

Understanding The Flight Announcer

34 minutes ago

In a recent statement, PenCom expressed concerns about the growing pile of uncredited pension contributions in PFAs’ accounts.

The commission called for strict compliance from employers and contributors to address this matter promptly.

The inability of PFAs to credit employees’ RSAs could potentially affect their retirement plans. As a result, it is critical to act quickly to correct the situation.

“By completely automating pension remittance processes, PenCom and PenOp have taken significant steps towards creating a more robust Contributory Pension Scheme (CPS) for employers and employees, solving the challenge of uncredited pension contributions in the accounts of PFAs.

“By this development, all employers are to channel all pension contributions through the approved PSSPs, who then validate the PFAs and Personal Identification Numbers (PINs) of the RSA holders with PenCom’s database to eliminate errors, which led to uncredited pension contributions,” the commission stated.

PenCom also set June 1, 2025 as the deadline for adopting the new remittance process as employers are directed to channel all pension contributions through the approved PSSPs.

“PenCom remains open to approving additional PSSPs that meet specified criteria in the future. This move demonstrates PenCom’s commitment to continuously improving the CPS and ensuring accessibility for employers across Nigeria.

“As the Pension Contribution Remittance System rolls out, PenCom is optimistic that it will lead to a more transparent, efficient, and error-free process for pension contributions.

“Employers are encouraged to adopt these changes promptly to ensure compliance and preserve the integrity of their employees’ pension contributions,” the commission stated.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

START EARNING US DOLLARS as a Nigerian ($35,000) monthly. Companies are sacking their workers due to AI (artificial intelligence), business owners are in panic mode. Only the smart will make it. Click here


Tags: PenCom
SendShareTweetShare
Previous Post

Trump Announces 25% Tariffs On Foreign Cars

Next Post

Natasha Recall: Electoral College Tasks INEC On Transparency

Mark Itsibor

Mark Itsibor

Mark Itsibor is a journalist and communication specialist with 10 years of experience, He is currently Chief Correspondent at LEADERSHIP Media Group and writes on Finance, Economy, Politics, Crime, and Judiciary. He has a B.Sc in Political Science, Post Graduate Diploma in Journalism (Print), and B.A in Development Communication. His Twitter handle is @Itsibor_M

You May Like

Seven Tips On Best Tearjerker Movies
Entertainment

Seven Tips On Best Tearjerker Movies

2025/06/06
Understanding The Flight Announcer
Backpage

Understanding The Flight Announcer

2025/06/06
Tinubu, Northern Governors Mourn As Prof Jibril Aminu Dies At 85
News

Jibril Aminu (August 1939- June 2025)

2025/06/06
Buhari Applauds Victory Of Emir Of Gwandu In 20-year Legal Battle
News

Buhari Applauds Victory Of Emir Of Gwandu In 20-year Legal Battle

2025/06/06
Combating Illicit Arms Key To Defeating Terrorism – NSA
News

Combating Illicit Arms Key To Defeating Terrorism – NSA

2025/06/06
Akume’s Profile In Courage, Discipline And Loyalty
News

FG Sets Up Committee For 2025 Democracy Day Celebration

2025/06/06
Leadership Conference advertisement

LATEST

Eid al-Adha: A Lesson In Service And Sacrifice

Seven Tips On Best Tearjerker Movies

How To Turn Your Car Into A Money-Making Machine

Understanding The Flight Announcer

Jibril Aminu (August 1939- June 2025)

Buhari Applauds Victory Of Emir Of Gwandu In 20-year Legal Battle

Combating Illicit Arms Key To Defeating Terrorism – NSA

FG Sets Up Committee For 2025 Democracy Day Celebration

Eid-el-Kabir: Abbas, Barau Urge Muslims To Pray For Nigeria, Imbibe Unity

Tinubu, Northern Governors Mourn As Prof Jibril Aminu Dies At 85

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.