National Pension Commission (PenCom) has warned employers and companies seeking to obtain Pension Clearance Certificates not to use touts and agents for this purpose, describing it as illegal and contrary to the provision of the Pension Reform Act 2014.
The Commission who said this in a statement noted that “the use of touts and agents to obtain Pension Clearance Certificate is illegal and contrary to the provisions of Section 104(b)&(c) of the Pension Reform Act 2014.
“Issuance of Pension Clearance Certificate is free of charge. The application process is also very easy and transparent. The Commission strongly advise me employers to deal directly with it on matters relating to applications for issuance of Pension Clearance Certificate.”
The Commission called on employers wishing to obtain Pension Clearance Certificate to forward their application together with relevant documents to the Commission.
The documents are certified list of employees of the organization as at the end of the last fiscal year and should be done with an authorized official of the applicant organization; Certified rate of monthly pension contributions such as ten percent (10%) minimum contribution by the employer; and eight percent (8%) minimum contribution by the employee.k
Other requirements include evidence of remittance of monthly pension contributions for all employees for the last three fiscal years for organizations that were in existence for that period and have three (3) or more staff; from the date of my 6incorporation/registration/licensing to the last fiscal year for organizations that have not been in existence for the last three fiscal years; evidence of remittance of all outstanding pension contributions and penalties (for late remittance).
Also required are 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 the custody of pension assets before June 2004 and evidence of current Group Life Insurance Policy procured for the staff of the organization specifying the number of lives and sum assured.
PenCom said it takes seven (7) working days for the Commission to process applications submitted with full documentation, adding that the application is currently in the process of automation.
Until this is completed, according to the Commission, Certificates of Compliance can be picked up at the offices where applications were submitted.
It stated that 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 Offices in the six (6) geopolitical zones. Details of the zonal offices can be found on the Commission’s website, www.pencom.gov.ng.
The Commission said applicants can also track their applications by visiting the Commission’s website where the list of organizations issued Clearance Certificates is updated daily or by contacting the Commission on +234 9 460 3930; +234 9 460 3954 – 5.