PenCom denounces use of touts, agents to obtain pension clearance certificates

UFOMBA UZUEGBU

National Pension Commission (PenCom) has expressed dismay over the increasing use of touts and agents by employers and companies seeking to obtain pension clearance certificates.
The Commission warned that the use of touts and agents was illegal and contrary to the provisions of Section 104(b)&(c) .
The management of the Commission emphasized in a statement made available to Daily Champion today(Friday, September 1,2023),that issuance of Pension Clearance Certificate is free of charge, stressing that the application process is also easy and transparent.
“The Commission strongly advises employers to deal directly with it on matters relating to applications for issuance of Pension Clearance Certificates. Employers wishing to obtain Pension Clearance Certificates are required to forward their applications together with the following documents; certified list of employees of the organization as at the last fiscal year. The certification should be done with an authorized official of the applicant organization and certified rate of monthly pension contributions ( specifying employer and employee rates).
” The rates relating to the monthly emoluments are; minimum of ten percent(10%) by the employer and minimum of eight(8%) by the employee “the statement posited.
Continuing, the statement further noted that evidence of remittance of monthly pension contributions for all employees are as follows: for the last three fiscal years for organizations that were in existence for the period and have three(3) or more staff and 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, among others.
“Applicants are to note that it takes seven 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”, it added.