• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, June 29, 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
3 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

Religious Beliefs, Myths, Others Hindering Acceptance Of Family Planning

Jigawa Earmarks N80m For Family Planning Services

1 hour ago
[EDITORIAL] Uniting Against Drug Abuse

Hijrah Organisation Decries Prevalence Of Drug Abuse In Kwara

1 hour 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

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


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

Religious Beliefs, Myths, Others Hindering Acceptance Of Family Planning
News

Jigawa Earmarks N80m For Family Planning Services

2025/06/29
[EDITORIAL] Uniting Against Drug Abuse
News

Hijrah Organisation Decries Prevalence Of Drug Abuse In Kwara

2025/06/29
nigerian Troops
News

Commander Warns Officers, Soldiers Against Cannabis Use

2025/06/29
APC Ticket: Olawepo-Hashim Congratulates Tinubu, Urges Him To Reach Out More
News

Friends, Associates Celebrate Gbenga Hashim @ 56

2025/06/29
Gov Mutfwang Hosts Prison Fellowship, Advocates Justice For Victims
News

Gov Mutfwang Hails Anaba On NGE Election

2025/06/29
Niger Gov, Others Celebrate Etsu Nupe At 70
News

Etsu Nupe Urges Agricultural Revolution, Youth Involvement

2025/06/29
Leadership Conference advertisement

LATEST

Of Tax, Transition And The Promise Of Prosperity

Why Journalists Must Create Space For Real Conversations Across Divides

Shettima And The 2nd Term Brouhaha

Jigawa Earmarks N80m For Family Planning Services

APC Stakeholders Seek Power Shift To Kajuru

Hijrah Organisation Decries Prevalence Of Drug Abuse In Kwara

Commander Warns Officers, Soldiers Against Cannabis Use

Kwara North APC Guber Aspirants Chart Common Front For 2027

Friends, Associates Celebrate Gbenga Hashim @ 56

Gov Mutfwang Hails Anaba On NGE Election

© 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.