What is an Employer Code (EC)?
An Employer Code (EC) is a unique identification alpha-numeric code that is issued to eligible employers who are duly registered with PenCom in order to, among others, facilitate the RSA registration of their employees. The EC also serves as the unique identifier of each registered employer on the PenCom database. Usually, employers in the PenCom database are referred to using their EC.
This implies that for an employee of an establishment to open a Retirement Savings Account (RSA) his or her employer must have obtained an EC from PenCom.
Therefore, all eligible organizations and businesses under the CPS are enjoined to obtain their EC from PenCom in order for them and their employees to be duly registered with PenCom.
How to Obtain An Employer Code (EC)
To obtain an Employer Code (EC), eligible employers will approach their Pension Fund Administrators (PFA) with the necessary documents required. The PFAs are the only medium through which ECs requests can be submitted to and obtained from PenCom.
To successfully obtain an Employer Code (EC) the following documents are required for both Private and Public sector employers:
- A letter requesting for employer code (on the company’s letterhead)
- Certificate of incorporation/registration from the registering authority (either RC or BN)
- Evidence of Taxpayer’s Identification Number (TIN).
- In the case of FGN MDAs, a letter on the MDA’s letter-head paper, to the Commission, requesting for the issuance of an employer code. The letter should indicate the Chart of Account number of the MDA as issued by the Office of the Accountant-General of the Federation (OAGF).
- In the case of State MDAs, a letter from the State Pension Bureau/Board/Commission or Head of Service of a State, as the case may be, to the Commission, requesting for the issuance of an employer code. The letter should indicate the State ID number.
As soon as all the necessary documents are received and submitted to PenCom by the PFA, the Employer Code will be issued and this will be communicated to the employer.
Please note that this service is rendered FREE of charge.