BY SAM OTUONYE
In a continued effort towards a digital pension administration and operations the National Pension Commission (PenCom) have approved nine Pension Service Solution Providers (PSSPs) to help employers remit pension contributions with greater ease, accuracy, and transparency.
The PSSPs are equipped with real-time verification tools that match contributors’ Personal Identification Numbers (PINs) and Pension Fund Administrators (PFAs) directly with PenCom’s central database.
The system ensures that contributions are accurately linked to the correct employee accounts, reduces errors, and speeds up processing timelines.
According to PenCom, the newly approved platforms offer automated record-keeping, instant validation of employee details, and efficient reconciliation processes—transforming what was once a cumbersome manual process into a seamless digital experience.
Employers looking to improve compliance with the Pension Reform Act and avoid penalties for late or inaccurate remittances are encouraged to adopt any of the nine approved PSSPs: PayPen – by Netline Ltd (paypen.ng); Paythru – by Pethahiah Rehoboth International Ltd (pensphere.ng); Pension Central – by Chams Plc (pensioncentral.ng); CyberPay – by Cyberspace Ltd (penremit.ng); Awabah Remit Services Nigeria Limited (penpay.com.ng); Gemspay Solutions Limited (gemspaysolution.com); Uniswitch Technology Limited (uniswitchng.com); Interswitch (interswitchgroup.com) and Nigeria Inter-Bank Settlement System (NIBSS) (nibss-plc.com.ng).
These platforms are part of a wider industry effort led by the Pension Operators Association of Nigeria (PenOp) to modernize pension administration and improve contributor confidence in the retirement system.
By integrating digital tools that enhance compliance and accuracy, the introduction of PSSPs is expected to significantly reduce delays and mismatches in pension remittances, a recurring problem for many employers and workers in the past.