The National Pension Commission (PenCom) has warned that organisations failing to comply with pension remittance obligations will be blacklisted starting November 30, 2025.
The commission’s Director-General, Ms Omolola Oloworaran, made this known during a media briefing in Lagos on Wednesday.
According to Oloworaran, PenCom is adopting a zero-tolerance approach to non-compliance with the Pension Reform Act of 2014.
She emphasised that every organisation, whether public or private, big or small, must comply with pension remittance obligations without exceptions or delays.
According to her, ”The commission has directed all Pension Fund Administrators and Custodians to ensure that every vendor, service provider, and counterparty has a valid Pension Clearance Certificate (PCC) that evidences compliance with pension contributions.
”Any entity without a PCC will be blacklisted and cut off from pension business with all PenCom-regulated entities by November 30.
”This directive also extends to banks, investment counterparties, parent companies, and shareholders of licensed pension fund administrators and custodians, ” she said.
Oloworaran also stressed that pension compliance was no longer optional but existential, adding that only organisations that value the future of their employees can participate in the pension ecosystem.
The PenCom boss noted that the commission was committed to rejigging the pension industry to achieve a more robust and inclusive system that supports sustainable economic development.
She highlighted four key pillars that emerged from the commission’s inaugural pension industry leadership retreat, which include infrastructure financing, legislative partnership, diversification of pension assets, and revolutionizing the micro pensions scheme.
The Personal Pension Plan, formerly known as the micro pensions scheme, has been rebranded and re-engineered for scale, technology enablement, and deep penetration into the informal sector.
Oloworaran said the commission was resetting the industry’s strategic compass to achieve sustainable retirement and economic development.
