19,716 more employers get certificates for pension compliance - Punch Newspapers

PenCom, in its compliance guidelines for life insurance policy for employees and submission of insurance certificate issued to employers, said companies with no insurance covers for their workers would no longer be allowed to do any government business.

According to the commission, the regulations will ensure that the companies have appropriate pension accounts for the workers. In its directive on issuance of certificate of compliance with the provisions of the Pension Reform Act 2014 to the general public, suppliers, contractors or consultants bidding or soliciting for contract or business from any Federal Government ministries, departments and agencies, it said employers must fully comply with the provisions of the law.

PenCom said, “In that regard, the commission issues annual Pension Clearance Certificate to eligible organisations. “The MDAs are reminded to ensure that only Pension Clearance Certificates issued by the commission are accepted as evidence of compliance with the Pension Reform Act 2014.”All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

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