320 employers get insurance, pension for workers in first week of 2025
National Pension Commission
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No fewer than 320 employers have obtained compliance certificates from the National Pension Commission and cleared to do business with the Federal Government for obtaining insurance and pension for their employees.
The commission disclosed this in its report obtained by Dailyeconomy titled, ‘Schedule of employers issued with certificate of compliance with provisions of the PRA 2014 as at 07 January, 2025.
The certificates issued on the second of January 2025, will expire on 31st of December, 2025.
PenCom’s strict enforcement of these regulations aims to ensure that all employers adhere to the provisions of the Pension Reform Act (2014), which aims to safeguard employees’ future financial security by mandating both insurance and pension provisions.
According to the commission, the employers have between three and 108 employees.
They were issued compliance certificates that enabled them to do business with the Federal Government from the beginning of 2025 till end of December 2025.
PenCom in its compliance guidelines for life insurance policy for employees and submission of insurance certificate issued to employers stated that companies that had no insurance covers for their workers would no longer be allowed to do any government business.
It noted that the regulations would be in addition to ensuring that the companies had appropriate pension accounts for the workers.
It 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.”
PenCom’s 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 stated that employers must fully comply with the provisions of the law.
