The Pension Fund Administrators have commenced the rollout of the Data Recapture Self-Service Platform withdrawals.

The platform would enable eligible Retirement Savings Account holders to conveniently update their personal records remotely, without having to visit PFA offices, according to a statement by the Pension Fund Operators Association of Nigeria on Wednesday.

According to the statement, PENCAP is targeted at RSA holders who joined the Contributory Pension Scheme on or before July 1, 2019, and have yet to complete the data recapture exercise.

It said that the deployment and implementation of the self-service process had been duly achieved through PenOp’s coordinated efforts and execution.

It said that the process was also achieved by leveraging its expertise in pension operations, data management, and digital process optimisation.

“The fully online process allows RSA holders to complete data recapture using any internet-enabled device, including live biometric capture and document uploads where required.

“The submissions are reviewed and processed by the contributor’s PFA, with automated notifications provided at every stage to ensure transparency and accountability,” it said.

The management said that completing the data recapture exercise was essential for accessing key pension services, including retirement benefit processing, retiree enrolment and verification, RSA transfers, and other approved transactions.

It said that eligible RSA holders who had not completed the exercise were encouraged to use the self-service option to avoid delays or restrictions.

It said that the introduction of PENCAP reflected the industry’s continued focus on digital innovation, improved efficiency, and enhanced contributor experience.

PenOp also plays a central role in supporting PFAs in delivering seamless, reliable service to RSA holders nationwide. 

(NAN)