PenCom stated this in a document entitled: Schedule of
Employers Issued with Certificate of Compliance with Provisions of the Pension
Reform Act (PRA) 2014 as at January 13, 2023, published on its website.
According to PenCom Jaiz Bank Plc, with 821 employees, had
the largest amount of contributions and remittance for employees, which was
N556.21 million.
The pension sector regulator said Setraco (Nigeria) Limited,
with 2981 employees, contributed and remitted N524.13 million, while FSDH
Merchant Bank Limited, with 184 employees contributed and remitted N236.33
million and Triacta (Nigeria) Limited, with 749 employees, contributed and
remitted N117.14 million.
PenCom Certificate of Compliance (PCC) is usually issued by
PenCom to employers of labour mandated to participate in the Contributory
Pension Scheme (CPS) having complied with the provisions of the PRA 2014 on
pension administration of its employees.
In accordance with the provision of Pension Reformation Act,
PRA 2014, the PCC is a prerequisite for providing evidence of remittance of
employee’s contribution for suppliers, contractors or consultants who are
soliciting for contracts or business from any federal government ministries.
In its compliance guidelines for life insurance policy for
employees and the submission of insurance certificates issued to employers,
PenCom said companies with no insurance covers for their workers would no
longer be allowed to do any government business.
In lieu of this, PenCom requires organisations wishing to
obtain the annual Pension Clearance Certificate to forward their application to
the commission along with the following documents:
Certified list of employees as at the end of the last fiscal
year by an authorized official of the organisation.
Certified rate of monthly pension contributions, specifying
employer and employee rates i.e. minimum of 10 per cent by employer and minimum
of 8 per cent by the employee.
Evidence of remittance of monthly pension contributions for
all employees showing the date of payment or remittance, names of employees,
RSA Personal Identification Number (PIN) of employees, name of Pension Fund
Administrator (PFA) and amount paid on behalf of employer and employer which
will cover as follows: For the last 3 fiscal years – for organisations that
were in existence for that period and have at least three staff, From the date
of incorporation/registration/licencing – For organisations that have not been
in existence for the last 3 fiscal years and from July 2014 to December 2016 –
for organisations with 3 to 4 staff.
Evidence of remittance of all outstanding pension
contributions and penalties. This is applicable only to organisations
whose pension contributions have been reviewed by PenCom or its agent and found
to be culpable.
Evidence of transfer of pension fund and assets prior to the
commencement of the CPS to a licensed pension fund operator. This is applicable
only to organisations that had pension arrangements before June 2004 when the
CPS commenced.
Evidence of valid Group Life Insurance Policy for employees
which should include amongst others: Certificate of group life, policy document
and the evidence of payment.
Applicants are to note that it takes 15 working days from
the date of receipt for an application to be processed. Certificates or
rejections can be picked up at the offices where the applications were
submitted.
0 comments:
Post a Comment