
In a strategic move to boost transparency, ease compliance, and modernize pension fund remittance in Nigeria, Africa’s leading digital payment and commerce company, Interswitch, has launched PensionRemit, a fully automated pension remittance platform designed to meet the requirements of the newly enforced Pension Contribution Remittance System (PCRS).
The PCRS, introduced by the National Pension Commission (PenCom) and the Pension Fund Operators Association of Nigeria (PenOp), officially took effect on June 1, 2025, marking a critical transition in Nigeria’s pension regulatory landscape. Under the new system, employers are mandated to remit employee pension contributions using an approved Payment Solution Service Provider (PSSP) such as Interswitch.
Interswitch, known for its innovative digital infrastructure across Africa, affirmed in a Monday statement that the PensionRemit platform was designed not only to ensure full compliance with PCRS but also to offer employers and pension fund administrators a seamless, secure, and efficient remittance experience.
According to Muyiwa Asagba, Managing Director of Commercial Inclusion at Interswitch Inclusio, the platform is a natural extension of Interswitch’s commitment to simplifying financial operations and fostering inclusive participation through technology.
“Our focus has always been on removing friction and unlocking growth for businesses. With Interswitch PensionRemit, we are delivering a digital infrastructure that empowers employers to meet their pension obligations effortlessly and at no cost,” Asagba said.
The platform’s features cater to a broad spectrum of users, including large corporations, small and medium-sized enterprises (SMEs), and micro-businesses. It allows users to upload pension schedules, validate Retirement Savings Account (RSA) PINs, and confirm Pension Fund Administrators (PFAs) in real time — all within a single workflow.
Osasere Atohengbe, Vice President, Sales and Account Management at Interswitch, highlighted the platform’s forward-thinking approach, stating:
“We built Interswitch PensionRemit with employers and the future in mind, to boost our drive to address long-standing pain points in the pension remittance process. The platform equips both large organisations and small businesses with the tools they need to comply with PenCom’s new mandate in the most efficient way possible.”
Key Features and Benefits of Interswitch PensionRemit:
Real-time validation of RSA PINs and PFAs
Instant tracking and confirmation of submitted schedules
Zero remittance fees for employers
Automated audit trails with instant digital receipts
Fully compliant with PenCom’s PCRS regulations
Scalable design suited for enterprises, MSMEs, and service providers
Easy integration with HR, payroll, and ERP software
The solution also supports payroll service providers, HR software vendors, and ERP integrators, helping them incorporate pension compliance into their wider administrative and financial systems effortlessly.
Industry experts believe that PensionRemit will drastically improve the accuracy, timeliness, and transparency of pension payments in Nigeria. It reduces the risks of errors or non-compliance which have historically plagued the system, especially for smaller businesses lacking dedicated compliance staff.
With millions of Nigerian workers depending on timely remittance for their retirement savings, PenCom’s enforcement of the PCRS and platforms like PensionRemit are expected to boost employee confidence and strengthen the country’s pension system integrity.
The launch of PensionRemit signals Interswitch’s sustained leadership in delivering technology-driven financial solutions tailored to Nigeria’s unique ecosystem. As the nation continues its transition towards digital compliance and automation in public and private financial processes, PensionRemit is poised to play a crucial role in helping organizations navigate these changes with ease.
Employers and service providers can now access PensionRemit through the Interswitch platform, with dedicated support resources available to guide them in onboarding and transitioning from legacy systems.