PenCom to launch RSA transfer system Nov. 16



The National Pension Commission (PenCom) will officially launch Retirement Savings Account (RSA) transfer system, under the Contributory Pension Scheme (CPS) on Nov. 16.

The Head Corporate Communication, PenCom, Mr Peter Aghahowa, made this known in a statement in Abuja on Monday.

READ ALSOTroops kill 2 bandits, arrest suspected gun runners, recover arms

He said the commission had concluded arrangements for the take-off of RSA transfer to allow the RSA holders to transfer their accounts from one Pension Fund Administrator (PFA) to another once in a year.

RELATED:  Ohanaeze Ndigbo splinter group calls for Nwodo’s arrest, probe

He said this in line with section 13 of the Pension Reform Act 2014.

“The launch date for the RSA Transfer System is scheduled for Nov. 16, this will signify the official opening of the RSA Transfer Window.”

RELATED:  Reno Omokri shades Tonto Dikeh and slams Meghan Markle as he compares both women

“Prior to this launch, the commission had successfully developed the RSA transfer application a robust electronic platform that would enable seamless RSA transfers.

“Also, the commission have conducted extensive workshops for licensed Pension Operators and State Pension Bureaus in readiness for this epoch-making event,’’ Aghahowa said.

He said the activation of the RSA transfer process would stimulate competition and improve service delivery in the pension industry.

RELATED:  Kaduna screens youths to commence community policing

He also said it would assert the right of RSA holders to determine which PFA managed their pension contributions and retirement benefits.

The post PenCom to launch RSA transfer system Nov. 16 appeared first on Vanguard News.

Receive Updates

No spam guarantee.

I agree to have my personal information transfered to GetResponse ( more information )