By Sola Alabadan
The National Pension Commission (PenCom) has issued Pension Clearance Certificate (PCC) to 1,824 companies to bid for Federal Government contracts as at January 26, 2022, after they provided evidence of compliance with provisions of the Pension Reform Act 2014.
For the current year 2022,PenCom started issuing the certificate on January 4 and 207 companies were certified on the first day.
This was made known by the commission in a report posted on its website.
In view of the fact that only Pension Clearance Certificate (PCC) issued by PenCom serve as proof of compliance with the provisions of Pension Act, all Federal Government Ministries, Departments and Agencies (MDAs) are mandated to ensure that all bids tendered by organisations are accompanied by PCC.
Organisations wishing to obtain the annual PCC are required to forward their applications to PenCom headquarters in Abuja, or any of its six zonal offices, attach the required documents.
A company can obtain PCC by formally applying to Pencom and attaching certified list of employees of the organisation as at the end of the last fiscal year, the certified rates of monthly contributions indicating the employer (minimum 10%) and employee (minimum 8%) rates and evidence of remittance of pension contributions for the last three
fiscal years for organisations that were in existence for that period; and from the date of incorporation/ registration/licensing to the last fiscal year for organizations that
were not in existence for the last three fiscal years.
In addition,the organisation must also attach evidence of transfer of pension fund and assets meant for any pre-2004 retirement benefits scheme into the employees RSA;evidence of remittance of all outstanding pension contributions and penalties where applicable: and evidence of valid Group Life Insurance Policy, which should include Certificate of Group Life, Policy Document and evidence of payment.
