What we do

Seamless Pension payments via various channels

PayPen provides employers with multiple channels for making pension remittances after schedule upload, so you get to pick which option is most comfortable to you. Some of these options are ATM transfer, POS transfer, USSD transfer, Cheque, mobile transfers, cash payment at the bank branches. The good news is the Pension Operators would receive the payments and schedules for immediate matching without having to engage the employers for schedules.

Very friendly user interface

PayPen provides you with an end-to-end easy to use platform built solely for purpose of Pension payments.

Organization’s payment history

Once you sign up, PayPen gives you access to your company’s pension payment history. There is a variety of options to search for whatever information you seek e.g., RSA PIN, period, Employee name, Staff ID etc. You can also download or print out the details.

Schedule upload with multiple periods

Upload schedules with multiple periods, whichever months you wish and at once. With PayPen, you are not limited to uploading schedules with just one period of payment at a time.

Schedule upload with multiple PFAs

No longer will you have to categorize your employees according to their various Pension Fund Administrators (PFAs) before uploading and making several payments in batches. With PayPen, all your employees’ details would be uploaded with one file and payment made once. PayPen will automatically categorize and split the schedule into the different PFAs and make payments on your behalf to the respective accounts which are domiciled with different Pension Fund Custodians (PFCs). These schedules will also be sent to these PFCs immediately.

Instant rendition of schedules to Pension Fund Custodians (PFCs)

PayPen renders all schedules to respective Pension Operators immediately a payment is successful. This allows for same day processing and crediting of employees for investment.

Accurate Schedule amount calculation

PayPen allows you make payments accurately, no longer would you face the issues of under or over payment as automatic checks are done on the schedule uploaded, these checks point out instances of miscalculations and discrepancies on your uploaded schedules and gives you the opportunity to correct them immediately before payments can be made.

Zero Kobo Difference

It can be frustrating when Pension Operators call to inform that your payment was more or less than the schedule total, especially when you have crossed that task from your to-do list. Well, you no longer have to worry about that because PayPen makes sure that your payment is exactly the total amount contained in the schedule uploaded. Not a kobo more, not a kobo less.

Schedule upload for different contribution types

Apart from the regular contributory pension scheme, PayPen allows for pension payments of different contribution types e.g. Interest, Legacy, bonds etc

Seamless Processing for the Pension Fund Custodians

We have identified most of the challenges that cause delay in processing payments from the PFCs which would in turn delay crediting of employees’ Retirement Saving Accounts. PayPen has been designed to remedy those challenges and allow for a seamless flow from employers to the respective Pension operators.