RSA holders can now change PFA from Nov. 16: PenCom

Holders of Retirement Savings Account (RSA) under the Contributory Pension Scheme (CPS) would be able to transfer their accounts one Pension Fund Administrator from November 16, National Pension Commission (PenCom) said on Monday in Abuja.
PenCom’s spokesman Peter Aghahowa said the commission had concluded arrangements for the take-off of RSA transfer to allow the RSA holders to transfer their accounts from one Pension Fund Administrator (PFA) to another once in a year.
He said this in line with section 13 of the Pension Reform Act 2014.
“The launch date for the RSA Transfer System is scheduled for November 16, 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.
“Also, the commission has conducted extensive workshops for licensed Pension Operators and State Pension Bureaus in readiness for this epoch-making event,’’ Mr. Aghahowa said.
He said the activation of the RSA transfer process would stimulate competition and improve service delivery in the pension industry.
He also said it would assert the right of RSA holders to determine which PFA managed their pension contributions and retirement benefits.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette

Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”

States
My administration spent N10 billion on empowerment in five years: Sanwo-Olu
Mr Sanwo-Olu said the initiative was deliberate to uplift young entrepreneurs and support them with the needed tools to start their businesses.

Lagos
You won’t regret returning to APC, party chair tells Jandor
Describing Mr Adediran’s return to APC as historic, the chairman said he first got the hint of his return from the Presidential Villa in Abuja.

States
Gunmen storm teaching hospital in Edo, kill physiotherapist
Sources said the gunmen shot the health personnel while on duty within the department of physiotherapy of the hospital on Friday.

States
Anambra to begin polio vaccination on May 3
Ms Onwuegbuzina said vaccination officers had been trained and deployed across the state for effective mobilisation and compliance.

States
NEMA cautions Lagos residents on safety amid downpour
He warned Lagos residents against taking shelter under temporary or makeshift accommodation during rainfall to avoid disaster.

NationWide
FG distributes 42,000 life jackets to 12 states to improve safety on waterways
The initiative was to promote the use of life jackets to reduce boat mishaps and promote safety on inland waterways across the country.