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Nigeria: New online pension contribution system

Replaces manual process of remitting pension contributions with an online system

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April 15, 2025

The National Pension Commission (PenCom) has introduced the Pension Contribution Remittance System (PCRS), which aims to modernize Nigeria's pension system by replacing the manual process of remitting pension contributions with an online system.

The PCRS is designed to eliminate paperwork, reduce errors, and increase transparency in pension remittances. It addresses issues related to uncredited pension contributions and verification delays.

To facilitate seamless pension payments, PenCom has approved nine Payment Solution Service Providers (PSSPs) that will validate employees' personal identification numbers (PINs) and pension fund administrators (PFAs) with PenCom's database before processing payments.

Read an April 2025 report prepared by the KPMG member firm in Nigeria

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