How to Use the Pension Contribution Payment Solution on Credo

How to Use the Pension Contribution Payment Solution on Credo

How to Use the Pension Contribution Payment Solution on Credo

Pay Pension Contributions Seamlessly.

The Credo Pension Contribution Payment Solution enables employers to pay pension contributions for all their employees—across multiple Pension Fund Administrators (PFAs)—with a single, seamless payment in under 5 minutes.

Follow the simple steps below to make pension contributions for your employees.

Step 1.  Sign up on Credo 

If you’re new to Credo, go to www.credocentral.com and create a free business account.

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Note: You may decide to complete the onboarding process by following the guide in this link, but it’s not required to use the Pension Solution.

Step 2: Log in to your Credo account

Once your account is set up, log in using your credentials. You’ll be directed to your business dashboard.

Step 3: Navigate to the Pension Menu

Step 4: Input your PenCom Employer Code

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Step 5: Select “New Schedule”

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Step 6: Input the following details:
  1.       Title
  2.       Pension Period
  3.       Description

Step 7: Upload a schedule of remittance you want to make. Please download a schedule template and a list of PFA Codes to be included on the schedule.

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Step 8: Click on “Upload Schedule” and you will be shown a preview of the schedule you uploaded

Step 9: Cross-check the preview to ensure the data is correct and validated.

Step 10: Where incorrect or not validated, make changes on your schedule csv file and reupload it.

Step 11:  You will be able to proceed with payment for only data that is correct and validated.

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Step 12: Click on “Proceed to Payment”

      You have four payment options: 

  • Card: Use your Mastercard, Visa, or Verve debit card. 

  • Bank Transfer: Pay into a temporary virtual account generated when you select “Pay with Transfer.” 

  • USSD: Dial a USSD code provided when you select “Pay with USSD.” 

  • Bank Branch: Download an invoice and pay at any branch of the following banks:Globus Bank, Keystone Bank, Polaris Bank, Stanbic IBTC Bank, Signature Bank, Unity Bank, United Bank for Africa, Access Bank, or Premium Trust Bank. 





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