The National Pension Commission (PenCom) has officially approved Remita and eTranzact as payment platforms for its Pension Contribution Remittance System (PCRS), marking a significant step toward digitalizing pension remittances in Nigeria.

The approval expands the list of Payment Solution Service Providers (PSSPs) that employers can use to remit pension contributions online, replacing the traditional manual process that often led to delays and errors.

With the new system, employers can upload employee pension schedules and make payments directly online. The PCRS also validates employee Personal Identification Numbers (PINs) and Pension Fund Administrators (PFAs) before processing contributions, ensuring accuracy and timely crediting of funds.

The introduction of Remita and eTranzact gives employers more flexibility and convenience in managing pension contributions, enhancing transparency and reliability across the pension sector.

The PCRS was launched to address longstanding challenges such as uncredited contributions and delayed pension allocations, and employers were required to fully transition to the online platform by June 1, 2025.

PenCom’s move to integrate more digital channels reflects the commission’s ongoing commitment to modernizing Nigeria’s pension administration system and improving service delivery to both employers and employees. Visit www.jocomms.com for more news.