The National Pension Commission (PENCOM) Headquarters, which is tucked away in the center of Abuja, is an intermediary in the monitoring and control of the Nigerian pension industry. Positioned strategically in the nation’s capital, the PENCOM office plays a crucial role in guaranteeing the well-being of retirees.

As Nigeria’s population ages and the importance of pension planning grows, the role of PENCOM becomes increasingly significant. Established by the Pension Reform Act of 2004, PENCOM is tasked with the regulation and supervision of pension matters, ensuring the security and stability of pension funds for workers across the country.

PENCOM Abuja

A Hub of Oversight

The PENCOM office in Abuja serves as the nerve center for overseeing pension operations nationwide. Here, dedicated professionals work tirelessly to enforce pension regulations, monitor compliance, and safeguard the interests of pension contributors. From conducting audits to providing guidance on pension fund investments, PENCOM plays a critical role in maintaining transparency and accountability within the pension industry.

Commitment to Innovation

In an era marked by technological advancements, PENCOM remains committed to embracing innovation to enhance its operations. The Abuja office serves as a hub for implementing digital solutions that streamline pension processes, improve accessibility, and ensure timely service delivery to pensioners and stakeholders alike. Through the adoption of cutting-edge technologies, PENCOM aims to modernize the pension system and adapt to the evolving needs of its beneficiaries.

Functions of The National Pension Commission

• Regulation and Supervision: The National Pension Commission regulates and supervises pension fund administrators, custodians, and other stakeholders.
• Contributor Education: Educating contributors about their rights, benefits, and responsibilities.
• Retirement Savings Account (RSA) Management: Managing individual RSAs and ensuring timely remittances.
• Pension Reform Advocacy: Advocating for pension reforms and policy improvements.

Services Offered

• Enrollment and RSA Creation: New contributors can enroll and create their RSAs.
• Benefit Processing: Facilitating retirement, withdrawal, and death benefits.
• Complaint Resolution: Addressing contributors’ complaints and inquiries.

Engagement and Empowerment

Beyond its regulatory functions, the PENCOM office in Abuja is also dedicated to engaging with stakeholders and empowering pension contributors. Through workshops, seminars, and outreach programs, PENCOM fosters financial literacy, educates workers on their pension rights, and promotes voluntary pension contributions. By empowering individuals with knowledge and resources, PENCOM strives to build a culture of retirement planning and financial security across the nation.

A Symbol of Trust and Confidence

As one of the foremost institutions overseeing Nigeria’s pension sector, the PENCOM office embodies trust, integrity, and professionalism. Its presence in Abuja serves as a symbol of confidence for pensioners, investors, and the general public, assuring them of the government’s commitment to safeguarding their retirement savings. With a strong emphasis on accountability and ethical conduct, PENCOM continues to inspire trust and instill confidence in the pension system.

Get In Touch

Headquarters Location;

Address: 174 Adetokunbo Ademola Crescent, Wuse 2, Abuja, Nigeria.

Email: [email protected]

Phone: 0700-CALLPENCOM (0700-225-573-6266) or +234 9460 3930.

Website: www.pencom.gov.ng

1. Can an employee have more than one Retirement Savings Account (RSA)?

No, an employee can only have one RSA. Having multiple RSAs is not allowed.

2. What happens if an employee has more than one RSA?

If an employee is found to have more than one RSA, PenCom will consolidate the accounts to ensure proper management and compliance.

3. When can an employee access money in their RSA?

Access to the RSA is allowed upon retirement. If an employee retires at the age of 50 years or more, they can have immediate access to the RSA.

4. What happens to contributions made under the old NSITF scheme?

Contributions made by those exempted from the new scheme but who have contributed under the NSITF scheme will be computed and credited into their respective RSAs opened by the NSITF pending retirement.

5. Does the employer also contribute to the RSA?

Yes, the employer contributes a minimum of 7.5% of the employee’s monthly emoluments towards the employee’s retirement benefits.

Wrap Up

In conclusion, the PENCOM office in Abuja stands as a cornerstone of pension regulation, oversight, and empowerment in Nigeria. Through its unwavering commitment to transparency, innovation, and engagement, PENCOM plays a pivotal role in ensuring the security and sustainability of pension funds for millions of workers nationwide. As the nation’s pension landscape continues to evolve, the PENCOM office remains steadfast in its mission to protect the interests of pensioners and promote a culture of financial security and prosperity for all.