How To Apply For PenCom Compliance Certificate As A Company

How To Apply For PenCom Compliance Certificate As A Company

Are you a company owner looking for how to acquire the PenCom Compliance Certificate (PCC), then you are at the right place as we will be walking you through the process and procedures to apply.

Before we continue, if you want to apply for the National Pension Commission Non-Interest Fund (Fund VI), click HERE

There are certain things businesses/companies need to put in place when setting up their business and one of them is acquiring the PenCom Compliance Certificate, PCC, which also known as the Certificate of Compliance for their employees’ compensation or payment.

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About PenCom Compliance Certificate

The PenCom Compliance Certificate (PCC) is a certificate 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 Reform 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.

How To Apply For PenCom Compliance Certificate

To apply for the PenCom Compliance Certificate, PenCom requires organizations 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 organization.
• Certified rate of monthly pension contributions, specifying employer and employee rates i.e. minimum of 10% by employer and minimum of 8% 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 organizations that were in existence for that period and have at least 5 staff, From the date of incorporation/registration/licencing – For organizations that have not been in existence for the last 3 fiscal years and from July 2014 to December 2016 – for organizations with 3 to 4 staff.
• Evidence of remittance of all outstanding pension contributions and penalties. This is applicable only to organizations 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 organizations 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.

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Note: 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.

To check your application status, applicants are to visit Commission’s website: www.pencom.gov.ng where the list of organisations issued Certificates is updated daily.