From Our Correspondent
The National Pension Commission (PenCom) has urged employers and companies seeking to obtain pension clearance certificates to stop using touts and agents.
The Head of Corporate Communications of PenCom, Mr Abdulqadir Dahiru, said this in a statement, on Friday, in Abuja.
“The use of touts and agents to obtain pension clearance certificate is illegal and contrary to provisions of section 104 (b) and (c) of the Pension Reform Act 2014.
“Issuance of certificate is free of charge, and the application process is also easy and transparent.
“We advise employers to deal directly with PENCOM on applications for issuance of pension clearance certificate,” Dahiru stated.
Employers wishing to obtain such certificates, he said, are required to forward their applications together with required documents.
Such documents include a certified list of employees of the organisation as of the end of the last fiscal year. An authorised official of the applicant organisation should do the certification.
It also includes a certified rate of monthly pension contributions, specifying employer and employee rates.
“The contribution rates to monthly emoluments is minimum of 10% by employer and minimum of 8% by employee.
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“Evidence of remittance of monthly pension contributions for all employees as follows, for the last three fiscal years for organisations that were in existence for that period.
“Applicant organisation must also have three or more staffers, for organisations that have not been in existence for the last three fiscal years, from the date of incorporation/licensing to the last fiscal year.”
According to Dahiru, such documents also include evidence of remittance of all outstanding pension contributions and penalties for late remittance.
“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 organisations that had pension arrangements or were in custody of pension assets before June 2004.
“Evidence of current Group Life Insurance Policy procured for staff, specifying the number of lives and sum assured,” Dahiru stated.
The commission has seven working days to process applications submitted with full documentation.
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