THE National Pension Commission, (PENCOM) has said it has concluded 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.
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,
This will signify the official opening of the RSA Transfer Window.
Prior to this launch, the Commission had successfully developed the RSA Transfer
Application, a robust electronic platform that would enable seamless RSA
transfers. In addition, the Commission had conducted extensive workshops for
licensed Pension Operators and State Pension Bureaus in readiness for this
The activation of the RSA transfer process will engender competition and improve
service delivery in the pension industry, while asserting the right of RSA holders to
determine which PFA manages their pension contributions and retirement
benefits, it stated in a press release made available.
- Nov. 9, 2020 @ 10:17 GMT |