The National Pension Commission (PenCom) has revealed that it issued Pension Clearance Certificates (PCCs) to 10,541 organizations in the 1st quarter of 2022.
PenCom received 11,200 applications from private sector organizations for the issuance of Pension Clearance Certificates (PCCs) during the 1st quarter of 2022. PenCom said, out of the 11,200 applications received, PCCs were issued to 10,541 organizations, while 659 applications were still being processed for possible approval as at 31 March 2022.
PenCom further disclosed that the 10,541 organizations had remitted a total sum N59.39 Billion into the Retirement Savings Accounts (RSAs) of their employees, totalling 45,170.
Pension Compliance Certificates is a mandatory requirement for organizations transacting business with Federal Government Ministries, departments and Agencies (MDAs) and it is also a means of identifying responsible employers.
Pension Compliance Certificate expires every 31 December, therefore it must be renewed on yearly basis, the major requirement for pension compliance certificate is remittance of pension contribution and group life insurance policy for employees.
