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PenCom Insight: RSA transfer system revolutionises Nigerian pension industry

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An essential advancement in Nigeria's contributory pension scheme (CPS) came with the introduction of the retirement savings account (RSA)

An essential advancement in Nigeria’s contributory pension scheme came with the introduction of the retirement savings account transfer. This innovation allows RSA holders to seamlessly move their accounts from one pension fund administrator to another using the retirement savings account transfer system deployed by the National Pension Commission .

The development of the RSA transfer system followed the ECRS. As the application is tagged, the RTS is a unique and robust electronic platform that enables seamless RSA transfers.The application is used for submitting, processing, and monitoring RSA transfer requests. All transfer requests received within the third month of a quarter are processed in the next quarter.

 

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PenCom Insight:: RSA transfer system revolutionises Nigerian pension industryAn essential advancement in Nigeria's contributory pension scheme (CPS) came with the introduction of the retirement savings account (RSA)
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