One of the crucial innovations in the Contributory Pension Scheme in Nigeria was the introduction of the Retirement Savings Account Transfer, which allows RSA holders to transfer their RSAs from one Pension Fund Administrator to another through 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. RSA transfer requests received through the RTS are batched and processed at the end of every quarter, four times a year . However, only requests received latest by the end of the second month of a transfer quarter are treated within the quarter. All transfer requests received within the third month of a quarter are processed in the next quarter.