PenCom warns against the use of touts and agents to obtain pension clearance certificates.

By Afolabi Oyekunle.

The National Pension Commission (PenCom) has warned companies and employers to desist from using touts and agents in obtaining pension clearance certificates.

A statement by PenCom Management said there is now an increase in the use of touts and agents which it warns is illegal

and contrary to the provisions of Section 104(b)&(c) of the Pension Reform Act of 2014.

PenCom reminds them that the Issuance of Pension Clearance Certificate is free of charge and the application process is also very easy and transparent.

The Commission advises employers to deal directly with those matters relating to applications for issuance of Pension Clearance Certificates.

Employers wishing to obtain Pension Clearance Certificate are required to forward their application together with the following documents.

i.Certified list of employees of the organization as at the end of the last fiscal year and the certification should be done with an authorized official of the applicant organization.

ii.Certified rate of monthly pension contributions (specifying employer and employee rates).

It said the rates relating to the monthly
emoluments are:
a)Minimum of ten percent (10%) by the employer; and
b)Minimum of eight percent (8%) by the employee.
iii.Evidence of remittance of monthly pension contributions for all employees as follows:
a)For the last three fiscal years for organizations that were in existence for that period and have three (3) or more
staff;
b)For organizations that have not been in existence for the last three fiscal years, from the date of
incorporation/registration/licensing to the last fiscal year.
iv.Evidence of remittance of all outstanding pension contributions and penalties (for late remittance).
v.Evidence of transfer of pension fund and assets held prior to the commencement of the Contributory Pension Scheme (CPS)
to a licensed pension fund operator. This is ONLY applicable to organizations that had pension arrangements or were in
custody of pension assets before June 2004.
vi.Evidence of current Group Life Insurance Policy procured for the staff of the organization specifying the number of lives and sum assured.

The Commission said it takes seven (7) working days for it to process applications submitted with full
documentation as the application is currently in the process of automation.

Until this is completed, Certificates of Compliance can
be picked up at the offices where applications were submitted.
5.Applications can be submitted at either the Commission’s Head Office at Plot 174, Adetokunbo Ademola Crescent, Wuse II, Abuja
or any of its Zonal Officesin the six (6) geopolitical zones. Details of the zonal offices can be found on the Commission’s website,
www.pencom.gov.ng.
6.Also, applicants can track their applications by visiting the Commission’s websitewhere the list of organizations issued Clearance while
Certificates are updated daily.

The Commission can be reached on +234 9 460 3930; +234 9 460 3954 –5.