PenCom clears 157 firms to bid for FG contracts

The National Pension Commission PenCom has cleared 157 firms to bid for contracts with Federal Government Ministries, Departments and Agencies MDAs as at January 30, 2013.

PenCom has already issued certificate of compliance to the affected companies after having provided evidence of complying with provisions of the Pension Reform Act 2004, Daily Independent, reveals.

Issuance of compliance certificate by PenCom is in line with the provision of Section 16 (6) (d) of the Public Procurement Act, 2007, which states that any supplier, contractor or consultant bidding or soliciting contract or business from any Federal Government MDAs must fulfil all its obligations with respect to pensions.

Compliance with the Pension Act, at minimum, include ensuring that all employees open Retirement Savings Accounts (RSA) with Pension Fund Administrator of their choice; remitting both employer and employee pension contributions to the appropriate Pension Fund Custodian not later than seven days from the date of payment of salaries; and transferring all pension funds and assets prior to the commencement of the Pension Act to licensed pension operators.

Immediate past PenCom’s Director General, Muhammad Ahmad had informed that the Compliance Certificate replaces the erstwhile Letters of Compliance that were issued to organisations bidding or soliciting for contracts with Federal Government ministries, departments and agencies.

In accordance with the requirement that all organisations wishing to bid for any contract with the Federal Government MDAs must provide evidence of implementation of the Contributory Pension Scheme, PenCom has constantly been updating the list of organisations that have been issued compliance certificates.

The names of the affected companies are pasted on the commission’s website, having provided evidences of implementation of the Contributory Pension Scheme.

The immediate PenCom’s Director General stated that the list of employers issued compliance certificate by PenCom has to be publicised to serve as a guide to all Federal Government MDAs and for information of the general public.

The list also contained the number of employees under each of the affected companies as well as the total amount of pension contributions remitted in 2012.

During the outgone year 2012, PenCom issued certificate of compliance to 559 employers as against 852 firms certified by the commission during the year 2011.