BY NGOZI ONYEAKUSI

Nine Payment Solution Service Providers has gotten approval approval from the the National Pension Commission (PenCom)

to participate in the new online Pension Contribution Remittance System introduced by the commission.

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, Netline 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.”