PenCom to Blacklist Organisations without Valid Pension Compliant
The National Pension Commission (PenCom), has said that henceforth, any entity without a valid Pension Compliance Certificate (PCC) would be blacklisted and barred from engaging in any pension-related business with licensed pension fund operators regulated by PenCom.
The Director-General National Pension Commission, (PenCom) Omolola Oloworaran, who stated this at a press conference in Lagos said that full pension compliance is now an existential requirement for all stakeholders in the industry.
Oloworaran stated that with immediate effect any entity without a valid Pension Compliance Certificate (PCC) will be blacklisted and barred from engaging in any pension-related business with licensed operators regulated by PenCom.
She said this directive applies to organisations such as banks, investment partners, parent companies of pension firms, and shareholders linked to licensed pension entities.
According to her, all affiliated entities must enforce compliance and submit annual attestations.
“We are drawing a red line. Pension compliance is no longer optional, it is existential. Only those who value the future of their employees can participate in this ecosystem,” she declared.
Oloworaran also announced during the conference that Contributory Pension Scheme retirees up to March 2025 have now been fully paid their pension entitlements, marking a near-total clearance of long-standing pension arrears.
This achievement, she said, was as a result of the consistent release of funds for accrued rights since November 2024, made possible by the decisive leadership of President Bola Tinubu.
“We are just few steps away from eliminating pension arrears entirely, a historic milestone that restores credibility to the Contributory Pension Scheme,” she said.
Similarly the commission broke another uplifting news which is the launch of Pension Boost 1.0, which takes effect from June 2025. Under this initiative, monthly pension payments under the Contributory Pension Scheme will rise from N8.3 billion to N11.9 billion, driven by strong investment performance and a revised pension enhancement template.
She emphasised that this is not a token increase but a strategic leap backed by robust economic reforms and enhanced RSA fund performance.
She said President Tinubu’s approval of a N750.8 billion bond to clear outstanding pension liabilities underscores the administration’s commitment to ensuring a secure and dignified retirement for Nigerian workers.
