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Home Markets Fixed Income Funds Management

PENCOM fix Nov. 16 for launch of RSA Transfer System

Chidi EmenikebyChidi Emenike
2 years ago
in Funds Management
PFAs make N1.69 trillion ROI , Pension Contributions in Nigeria rose by N169.9 billion in 3-month , PenCom calls for thorough scrutiny of dead RSA holders’ benefits, PenCom discontinues Employee Death Benefit Account  , PFAs boost investment in infrastructure by N17.77 billion in one year , Pension: Low RSA balances - a subtly growing concern, PENCOM boss queried for spending unapproved funds, N5 billion on 360 staff in 8-month , How negative performance in the capital market affected PFAs in 2019, PenCom seeks pension bonds to clear N400 billion arrears as retirees groan, PenCom set to offer pension bonds to offset unpaid pension arrears, Is the pension asset just another cookie jar?, PenCom threatens companies with no insurance covers for their staff , PENCOM Notifies RSA holders on the mandatory data recapture exercise
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The National Pension Commission (PENCOM) has set Monday, November 16, 2020, as the official date for the launching of the Retirement Savings Account transfer system.

This is according to a verified tweet by the organization, as seen by Nairametrics.

READ: Sacked workers cash in N2.56 billion in 25% early pension withdrawal

The Official Launch of the RSA Transfer Window pic.twitter.com/pXCHQSr6r1

— Natl Pension Comm (@PenComNig) November 9, 2020

READ: Pension asset increases to N9.33 trillion – PenCom

PENCOM also affirmed that prior to this launch, the commission had successfully developed the RSA Transfer Application, a robust electronic platform that would enable seamless RSA transfer. In addition, the commission had conducted extensive workshops for licensed Pension Operators and State Pension Bureaus in preparation of the epoch-making event.

What they are saying

A part of the recent press release by the organization read thus, “The National Pension Commission (the commission) wishes to inform all stakeholders and the general public, especially Retirement Savings Account (RSA) holders under the contributory pension scheme, that the commission has concluded arrangements for the take-off of RSA transfers.

READ: Everything you should know about the Retirement Savings Account

“Accordingly, RSA holders may transfer their accounts from one Pension Fund Administrator (PFA) to another once in a year, in line with section 13 of the Pension Reform Act 2014. The launch date for the RSA Transfer System is scheduled for Monday 16 November, 2020. This will signify the official opening of the RSA Transfer Window.”

Why it matters

The latest development is in line with the commission’s desire to ensure that all RSAs holders are able to exercise their rights of transferring their RSAs from one PFA to another.

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Related

Tags: National Pension CommissionpencomPension Fund Administrator (PFA)Retirement Savings Account RSA

Comments 1

  1. Omale omale says:
    November 9, 2020 at 10:41 pm

    Pls am a dimmsd officer my pfa is with trusfund pension,I have already collected 25%.but I want all my money paid into my Acnt since I no longer do anything for again, cos my money is just been tired there and am suffering with my family, pls is there any way ii can be helped so my total sum can paid into my acnt

    Reply

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