The National Pension Commission (PenCom) has announced that organisations failing to meet their pension remittance obligations will be blacklisted from 30 November 2025.
PenCom Director-General, Omolola Oloworaran, issued the warning during the commission’s second-quarter media briefing held in Lagos on Wednesday. She said the commission had adopted a zero-tolerance stance on violations of the Pension Reform Act 2014.
“Effective immediately, PenCom has launched an uncompromising compliance drive to ensure strict adherence to the Act by all operators,” Oloworaran stated.
“Every organisation — public or private, large or small — must fulfil its pension remittance obligations. There will be no exceptions or delays.
“All Pension Fund Administrators and Custodians have been directed to ensure that every vendor, service provider, and counterparty holds a valid Pension Clearance Certificate (PCC), confirming full compliance with pension contributions.
“From 30 November, any entity without a PCC will be blacklisted and barred from conducting pension business with PenCom-regulated entities.”
The directive extends beyond direct service providers to include banks, investment counterparties, parent companies, and shareholders of licensed Pension Fund Administrators and Custodians.
“We are drawing a red line. Pension compliance is no longer optional; it is existential. Only organisations that value the future of their employees will be allowed to participate in this ecosystem,” she said.
Oloworaran also emphasised PenCom’s commitment to revitalising the pension industry to create a more robust, inclusive system that supports sustainable economic development.
Referencing the inaugural pension industry leadership retreat held in May, themed “Sustainable Retirement: A Strategic Blueprint for Economic Development and Inclusion”, she outlined four key strategic pillars including Infrastructure Financing — directing long-term pension funds into real economic growth with a strict focus on transparent, risk-managed, and credible investment products and Legislative Partnership — establishing a Pension Legislature Working Group to collaborate with lawmakers on necessary legal reforms.
The other pillars, she added include asset Diversification — revising investment regulations to broaden pension fund exposure to alternative asset classes with robust risk management and Micro Pensions Reform — rebranding and scaling the micro pensions scheme, now called the Personal Pension Plan, leveraging technology for wider penetration, especially in the informal sector.
