Answer: A PSSP is a Payment Solution Service Provider (PSSP) licensed by the Central Bank of Nigeria (CBN) as a gateway platform for electronic payments.

Answer: The National Pension Commission (PenCom) has approved 11 of the PSSPs licensed by the Central Bank of Nigeria (CBN) for the purpose of uploading pension remittance schedules before contributions are received from employers.

Answer: You can navigate the platform by clicking on the URL of the PSSP of your choice and following the prompts on the platform.

Answer: No, you may register on only one platform so that reports can be generated seamlessly without having to log into different platforms. However, registration can be done on a second platform in order to have an option in the event of temporary downtime of the primary platform.

Answer: Profiling is necessary in a one-time process for the purpose of registering the employer code/name as well as registering the contact information of the user(s) such as mobile phone numbers and email addresses.

Answer: Every remittance is made via a dedicated virtual account number assigned to your organization and activated every time you initiate a pension contribution remittance process.

Answer: PSSPs transmit all schedules to ONLY the appropriate pension operators via a highly secure end-to-end encryption.

Answer: The PSSP platforms are schedule collection systems for pension contribution remittances and do not collect or hold funds. However, where electronic delivery failures arise, the PSSP is responsible for reconciliation and completion to destination or return to source in line with the Service Level Agreement executed with the Industry.

Answer: Yes, each Company has to be registered with its own unique employer code. However, the same users may be profiled across the multiple Companies.

Answer: A virtual account is not a real bank account where money is stored. Funds don’t stay in the virtual account; they are automatically routed to the actual joint bank account of the respective Pension Fund Custodian (PFC) and Pension Fund Administrator (PFA).

Answer: You do not need to separate the periods into different schedules. The PSSP platforms will accept your schedule with multiple periods (stipulated in a data column) be it past or present, and you can put them all in one file for upload.

Answer: NO! One schedule is what you need to remit for multiple PFAs as there is a data column for PFA code/name. The schedule template is available for you on the PSSP websites to download at the point of remittance.

Answer: Absolutely yes. You can always refer to the PSSP platform for any report or history of your organizations’ pension remittances as long as said remittances were made via the platform.

Answer: NO! The platform is purely electronic and there are an array of electronic payment options that have been made available for you to select from. However, the PPID (Pension Payment Identification) Number generated at the point of schedule upload can be documented on a cheque for bank branch payment.

Answer: Underpayments and overpayments will not occur with the PSSP platforms. The schedule value per PFC/PFA account which are validated at point of schedule upload are automatically displayed for payment at point of remittance. However, if underpayment or overpayment inadvertently occurs especially with bank branch payment, the funds will be automatically reversed to the initiating bank account within 24 hours.

Answer: Yes, the platform allows you to process both employee and employer voluntary contributions.

Answer: Below is the list of the approved PSSPs.

*** FAQs on PSSPs as at 26 January 2026