The National Pension Commission has approved nine Payment Solution Service Providers to participate in the new online Pension Contribution Remittance System it has introduced.
In a new update on its website, PenCom said that the online Pension Contribution Remittance System replaces the manual process of employers remitting their employees’ pension contributions.
The unveiled service providers include Paypen by Netline Limited, Pencentral by Chamsaccess Limited, Pensphere (formerly Paythru) by Pethahiah Rehoboth Int’l Limited, Penremit by Cyberspace Limited, Pensol by Uniswitch Technology Limited, Penco by Gemspay Solutions Limited, Awabah by Awabah Remit Services Limited, Epcoss by Nigeria Inter-bank Settlement Systems Plc and Interswitch by Interswitch Group.
Under the new arrangement, PenCom said that “Employers can now upload employees’ schedules and make payments of their pension contributions online from the comfort of their homes or offices. The PCRS is free and comes at no cost to the employer.
“The PCRS ensures that pension remittance schedules uploaded by employers are accurate and employee personal identification numbers and pension fund administrators are verified with PenCom before remittances are processed.”
