How to remit pension in Nigeria

After years of frustration, stress and paperwork, PenPay by Awabah is here revolutionizing how businesses across Nigeria handle pension remittances with its digital pension payment solution.

This came at a time where the National Pension Commission (PenCom) mandated all employers; public and private to digitally remit pension contributions using approved platforms by June 1, 2025 as all other channels were going to be made redundant.

Read more: CPS remittance: PenCom approves nine payment solution service providers – Tribune Online

If you’ve ever worked in HR, finance or accounting, you know the headache of monthly manual pension processing: the printing out of payroll schedules, queuing at the bank, manually uploading files to Pension Fund Administrators (PFAs) and hoping it all goes smoothly. For many, it never did.

But now, there’s PenPay by Awabah: a game-changer for employers and employees alike.

What Is PenPay?

 PenPay is a seamless, automated platform that allows businesses to remit pensions: both mandatory pensions and micro pensions with just a few clicks. Think of it like topping up airtime: fast, easy and error-free.

How PenPay Works

How to Remit Mandatory Pensions in Nigeria

In 5 simple steps, whether you’re a small startup or a growing company, PenPay makes pension remittance simple and fast.

Step 1: Sign Up on PenPay.

Go to www.penpay.com.ng on your browser or download the PenPay app from the Google Play Store or Apple App Store to register your business in seconds.

Step 2: Click ‘Remit Pensions’, tap on ‘Mandatory pensions’ and signup or login.

Step 3: Once on the dashboard, click on ‘Remit’. Using the template on the dashboard, upload your schedule (containing employee details). You can decide to manually input your employee RSA details or you can choose the upload schedule option which allows you process bulk uploads.

Step 4: After uploading the schedule, the RSA pins schedule will be validated. If there are error or discrepancies, the affected RSA pins will be flagged. Name your schedule and choose how you want your remittances made. Either one-time or recurring remittances.

Step 5: You can either generate an invoice, pay from your wallet or choose Paystack.

 .

Step 6: Select mode of Payment; USSD, Card, Transfer, Opay and confirm payment. No guesswork. No waiting.

How to Remit Micro Pension in Nigeria

Step 1

Go to www.penpay.com.ng on your browser or download the PenPay app from the Google Play Store or Apple App Store and click “Remit my account”.

For Individuals

Select Micro Pensions and choose “Individual”. Input your details and submit.

For Businesses

Select Micro Pensions and choose “Business”. Upload your bulk remittance file and submit.

Step 3:  Input amount you want to pay and click pay.

Step 4:  Select mode of Payment; USSD, Card, Transfer, Opay and confirm payment.

Why Use PenPay?

Penpay is fully approved by PENCOM (National Pension Commission) and PENOP (Pension Fund Operators Association of Nigeria) as a Preferred Pension Solution Service Providers (PSSPs).

With its user-friendly interface, pension remittances are made easy as buying airtime to your phones at no cost.

Tunji Andrews, CO-founder and CEO of Awabah said, “At Awabah, our mission has always been to make life simpler for Nigerians. This vision started with Valubah, an all-in-one employee financial wellness suite for informal workers, gig earners, and SMEs. With PenPay by Awabah, we are taking a significant step in driving this vision forward by delivering a platform that simplifies pension payments, ensures regulatory compliance and promotes financial security for all Nigerians.”

What makes Penpay the go-to solution for employers across Nigeria?

We designed PenPay to make pension remittance fast, flexible, and frustration free. Here’s how we take the stress off your plate:

• One-Click Remittance to Multiple PFAs

Got employees registered with different PFAs? No problem. Upload one schedule, and PenPay will automatically sort and remit to each PFA accurately; no extra steps.

• Multi-Employer Code Support

Managing pensions across branches or multiple client companies? PenPay handles multiple employer codes, perfect for aggregators and payroll service providers.

• Flexible Schedule Creation & Bulk Uploads

Create schedules manually or upload via spreadsheet, it’s up to you.
Need to handle multiple months at once? Upload and pay in bulk with ease.

• Real-Time RSA & PFA Verification with Built-In Smart Validation

No more guesswork. PenPay verifies RSA details and PFA selection on the spot so you’re always remitting to valid, active accounts. Before any payment goes through, PenPay checks for Invalid or missing RSA PINs, incorrect or unrecognized PFA names and other common errors. With the edit feature, for errors, you are sure to have no failed remittances.

• Team Access & Permissions

With Penpay, you can add team members and assign roles

• Multiple Payment Methods to cater to Everyone

You can also schedule recurring payments so you never miss a deadline.

• Micropension Ready

Penpay is also Perfect for gig workers, freelancers, and informal sector earners.
You can save flexibly and access up to 40% of your balance after six months of consistent contributions.

• 24/7 Customer Support

Need help? Our support team is available round the clock via live chat and WhatsApp. No delays, just answers.

PenPay takes the pressure off pensions so your team can focus on what matters.

To get started, visit us at www.penpay.com.ng on your browser or download the Penpay app on Google and Apple app stores.

For more information, contact our support team at business@penpay.com.ng and 07086209827.

Other Products by Awabah: Valubah

In today’s uncertain world, flexible workers, contract staff and small businesses need more than just income, they need security. That’s where Valubah comes in.

Valubah is Awabah’s all-in-one employee financial wellness suite, designed to care for informal workers, gig earners, and SMEs. It bundles health insurance, life cover, accident protection and micro pension access into a simple and affordable monthly plan.

Each Valubah plan includes:

• Health Insurance (HMO) – Access to hospitals, telemedicine, common treatments, and specialist care.
•  Life Insurance – Pays a lump sum to family in the event of death.
• Accident Insurance – Covers injuries, disability, and medical emergencies.
• Micro Pension via PenPay – Flexible, digital savings for retirement

Whether you’re a contract staffer, delivery rider, cleaner, tailor or small business owner, Valubah makes it easy to protect what and who matters most.

Why Valubah Matters

Traditional financial services often exclude contract staff, freelancers and small teams. Valubah flips that model by offering bundled Protection, affordability, flexibility, simplicity and peace of mind.

Valubah Plans

Valubah Premium (₦3,000/month) – Perfect for basic protection

• Access to 1,000+ pharmacies
• Monthly treatment of common illnesses: malaria, typhoid, flu, pain
• Telemedicine access via USSD
• ₦100,000 life insurance
• ₦250,000 accident cover
• Micro pension remittance via PenPay

Valubah Gold (₦3,500/month) – For broader healthcare and family benefits

• Access to 1,500+ hospitals across Nigeria
• Specialist & emergency care (e.g. surgeries, diagnostics)
• Full maternity and family planning
• Dental, optical, HIV, and physiotherapy support
• Everything else included in Valubah premium

Who Is Valubah For?

“Valubah is about giving Nigeria’s most hardworking people the protection they deserve, whether they wear a uniform, ride a bike, or run a small shop,” says Tunji Andrews, CEO of Awabah. “This isn’t just a product, it’s dignity in a bundle.”

To get started, download the Awabah app on Google and Apple app stores or visit us at  www.awabahng.com. For more information, contact us at support@awabahng.comand 07086209827.