The National Pension Commission (PenCom) has approved Remita and eTranzact as additional Payment Solution Service Providers (PSSPs) to support pension contribution remittances, a move aimed at improving efficiency, competition and system reliability.
With the approval, the number of authorised PSSPs under PenCom’s Pension Contribution Remittance System has increased to 11, expanding the options available to employers and strengthening the infrastructure of Nigeria’s contributory pension scheme.
PSSPs are licensed entities responsible for facilitating the transfer of pension contributions from employers to employees’ Retirement Savings Accounts (RSAs). They play a critical role in ensuring that contributions are remitted accurately, promptly and transparently within the pension system.
Industry stakeholders say the inclusion of Remita and eTranzact is expected to enhance system resilience, ease operational bottlenecks and boost confidence among employers and contributors.
PenCom introduced the Pension Contribution Remittance System earlier this year as part of broader reforms to modernise pension administration and eliminate inefficiencies. In a notice published on its website over the weekend, the commission said the expansion of approved providers would support smoother onboarding of employers as the new remittance process gains traction.
Other approved PSSPs include Paypen, Pencentral, Penshere, Penremit, Pensol, Penco, Awabah, Epcoss by Nigeria Inter-Bank Settlement Systems Plc, and Interswitch.
The commission reiterated that all employers are required to adopt any of the approved PSSPs in line with the new remittance framework.
“To ensure timely and accurate remittance of pension contributions for their employees, all employers are required to promptly adopt any of the approved PSSPs as the new remittance process commences in June 2025,” PenCom said.
 has approved Remita and eTranzact as additional Payment Solution Service Providers (PSSPs) to support pension contribution remittances, a move aimed at improving efficiency, competition and system reliability.){kind=link}