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PenCom transfers 10,165 RSA to new ATP in Q3 – official



PenCom transfers 10,165 RSA to new ATP in Q3 – official

By Nana Musa The National Pensions Commission (PenCom) said it transferred 10,165 Retirement Savings Accounts (RSA) to other pension fund administrators (PFAs), at the request of their holders, in the third quarter.

Hajiya Maryam Bello, Deputy Director General of PenCom, Department of National Database Management, said at a workshop organized by the Committee of Journalists in Lagos on Tuesday on the theme: “Positioning the pension sector in the post COVID era ”.

Bello said all RSA transfer requests are handled by PenCom.

“The transfer of RSAs involves the reassignment of PINs on the Enhanced Registration System to the new transfer PFAs (TPFAs), the transfer of pension assets and RSA registrations from the old to the new PFA.

“All RSA transferred are reallocated by PenCom in its database on the fourth business day after the effective date of transfer (ETD).

TPFAs transfer RSA balances to receiving PFAs (RPFAs) on the fourth and fifth working days after the ETD.

“The TPFA move the files of RSA holders containing all the files relating to RSA to new ATPs within a maximum period of seven working days for retirees and one month for active RSA holders,” she said. precise.

The Deputy Director explained that a mail would be sent to an RSA holder when it has been transferred, noting that it is also important for RSA holders to provide valid emails.

She advised RSA holders to inform their employers of their PFA change and other important details, adding that the one-stop shop also allows RSA holders to seek more efficient customer service from their PFAs and better. returns on investment of their pension contributions.

Bello also said that only recovered RSA holders, who signed up after June 2019, can transfer their RSA and that active contributors and retirees on scheduled withdrawal are also eligible to transfer their RSA.

Retiree pensioners contributing voluntarily could also transfer their RSA once a year, she added. (NOPE)

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