As part of its commitment to ensure private sector organisations abide by the rules of the Contributory Pension Scheme (CPS), the National Pension Commission (PenCom) has issued over 38,000 Pension Clearance Certificates (PCC) to organisations that have complied with the rules.
Disclosing this yesterday in Lagos during a workshop for journalists the Director-General of PenCom, Ms Omolola Oloworaran, said that the commission also achieved a major milestone with the launch of the e-Application Portal for the PPC in October.
The theme of the workshop was, “Tech-Driven Transformation: Shaping the Pension Landscape”. She said that the initiative replaced the previous manual process, enabling companies to seamlessly apply for and receive PCCs online, significantly enhancing ease of doing business and ensuring compliance.
The PCCs are certificates, which qualifies organisations for Federal Government contracts in MDAs. The director-general also said that the Pension Industry Shared Service Initiative was in an advanced stage of implementation.
According to her, the initiative would digitise pension contributions and remittances, ensuring seamless processing of contributions and resolving discrepancies caused by incomplete remittance details.
“To further enhance contributors’ experiences, we have introduced a revised programme withdrawal template, simplifying access to voluntary contributions and revising the threshold for enbloc payments in line with the new minimum wage.”
