By Bisi Bamishe
The National Pension Commission (PenCom) has said that the use of touts and agents by employers and companies seeking to obtain Pension Clearance Certificates is illegal.
According to press statement signed by the management of PenCom, the attention of the commission has been drawn to increase use of touts and agents by employers and companies seeking to obtain Pension Clearance Certificates.
The Commission made known 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.
According to PenCom, issuance of Pension Clearance Certificate is free of charge. The application process is also very easy and transparent.
The Commission strongly advised employers to deal directly with it on matters relating to applications for issuance of Pension Clearance Certificate.
In addition, the supervisory body stated that employers wishing to obtain Pension Clearance Certificate are required to forward ther application together with the following documents
• Certified list of employees of the organization as at the end of the last fiscal year. The certification should be done with an authorized official of the applicant organization.
• Certified rate of monthly pension contributions (specifying employer and employee rates). The rates relating to the monthly emoluments are:
a) Minimum of ten percent (10%) by the employer; and
b) Minimum of eight percent (8%) by the employee.
• Evidence of remittance of monthly pension contributions for all employees as follows:
a) For the last three fiscal years for organizations that were in existence for that period and have three (3) or more staff
b) For organizations that have not been in existence for the last three fiscal years, from the date of incorporation/registration/licensing to the last fiscal year.
• 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 organizations that had pension arrangements or were in custody of pension assets before June 2004.
• Evidence of current Group Life Insurance Policy procured for the staff of the organization specifying the number of lives and sum assured,
According to the statement, applicants should note that it takes seven (7) working days for the Commission to process applications submitted with full documentation. The application is currently in the process of automation. Until this is completed. Certificates of Compliance can be picked up at the offices where applications were submitted.
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.
6. Also, applicants can track their applications by visiting the Commission’s website where the list of organizations issued Clearance Certificates is updated daily.
For further inquiries, employers should contact the Commission on +234 9 460 3930; +234 9 460 3954-5