Interswitch, one of Africa’s leading technology companies focused on creating solutions that enable individuals, businesses, and communities to prosper, has officially launched Interswitch PensionRemit — a fully automated platform designed to help employers comply with the recently introduced Pension Contribution Remittance System (PCRS). The new framework, mandated by the National Pension Commission (PenCom) and the Pension Fund Operators Association of Nigeria (PenOp), came into effect on June 1, 2025.
Fully aligned with the PCRS framework, Interswitch PensionRemit is an approved Payment Solution Service Provider (PSSP) authorized to operate under the new system. Designed for ease and efficiency, the platform enables employers to upload contribution schedules, validate Retirement Savings Account (RSA) Personal Identification Numbers (PINs) and Pension Fund Administrators (PFAs) in real time, and complete secure payments — all in one seamless flow.
Speaking on the launch, Muyiwa Asagba, Managing Director, Commercial Inclusion (Interswitch Inclusio), emphasized Interswitch’s focus on innovation-driven business growth: “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. This is in line with our mission to drive inclusive financial participation through innovation.”
Osasere Atohengbe, Vice President, Sales and Account Management at Interswitch, added: “We built Interswitch PensionRemit with employers and the future in mind, to address long-standing pain points in the pension remittance process. The platform equips both large organizations and small businesses with the tools they need to comply with PenCom’s new mandate in the most efficient way possible.”
Tailored to meet the evolving needs of large enterprises, corporates, micro, small, and medium-sized enterprises (MSMEs), and service providers across Nigeria, PensionRemit offers a suite of benefits designed to eliminate friction and boost compliance. These include:
- A streamlined remittance process aligned with PCRS guidelines
- Real-time schedule delivery, tracking, and confirmation
- Automated audit trails with instant receipts
- Zero platform fees for employers
- Reduced compliance and reporting burdens
The platform also supports a wider ecosystem, including payroll service providers, HR software vendors, and ERP providers, enabling seamless integration of pension compliance into financial and administrative workflows.
The launch of PensionRemit underscores Interswitch’s commitment to providing technology-driven solutions that promote transparency, efficiency, and trust within Nigeria’s financial ecosystem.