BY NKECHI NAECHE-ESEZOBOR–The National Pension Commission, (PenCom), said it processed and issued a total of 16,925 pension clearance certificates (PCCs) to organisations that met the requirements as At second quarter, 2023.
The commission disclosed this in its latest report titled: “second quarter report” posted on its official website that the sum of N57.37 billion was remitted into the Retirement Savings Accounts (RSAs) of 178,324 employees of the 16,925 organisations issued PCCs.
The commission also disclosed that Military and other Security Agencies received 55 requests for refund of pension contributions to Military Personnel and other Security Agencies, out of which 22 requests were processed for payment and the sum of N1,782,401.76 billion was refunded to the affected personnel during the quarter.
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It added that the 19 requests were not processed as they had been processed in earlier batches, while 13 requests could not be processed due to incomplete documentation while one was rejected because the personnel was not eligible for the refund of pension contribution.
PenCom commenced the issuance of PCC to organisations in 2012. The PCC is evidence of compliance with the PRA 2014 and a prerequisite for all suppliers, contractors, or consultants, soliciting any contract or business from Federal Government Ministries, Departments, and Agencies (MDAs).
The Pension Reform Act, 2014 (PRA 2014) makes it mandatory for all organisations with at least three employees to participate under the Contributory Pension Scheme (CPS).
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