Connect with us

INSURANCE & PENSIONS

PenCom urges RSA holders to participate in Data Recapture Exercise

Published

on

PenCom begins verification of FG's prospective retirees in Rivers, Bayelsa

The National Pension Commission (PenCom) has appealed to all active Retirement Savings Account (RSA) holders and retirees to cooperate with agents that would be visiting their organisations to carry out the Data Recapture Exercise (DRE)

PenCom’s Head of Corporate Communication, Mr Peter Aghahowa, made the appeal via a statement issued in Abuja on Tuesday.

He said that Pension Fund Administrators (PFAs) were directed by the commission to obtain the relevant information required for the DRE from RSA holders and the process is ongoing.

“One of the information required for the exercise is the National Identity Number (NIN).

“The commission is desirous to ensure that all RSA holders are able to exercise their rights of transferring their RSAs from one PFA to another, in anticipation of the formal launch of the RSA Transfer System during the last quarter of 2020.

“The commission, therefore, wishes to notify all RSA holders that the completion of the DRE is a prerequisite for processing any RSA transfer request by RSA holders who registered before July 1, 2019.’’

Aghahowa said that to fast-track the DRE, the commission approved a proposal of the Pension Operators’ Association of Nigeria (PenOp) for an industry Shared Service Initiative (SSI).

He said that PenOp has engaged agents to conduct the DRE on behalf of all PFAs.

According to him, this arrangement will enhance efficiency in carrying out the exercise as it will allow an agent to recapture all RSA holders in the same organisation on behalf of all PFAs.

Aghahowa said that the partnership with the National Identity Management Commission (NIMC), the selected agents would have the ability to carry out NIN registrations seamlessly.

He also said that PenCom introduced DRE in August 2019 in order to obtain complete, accurate and current data of all RSA holders (both active and retired).

Nana Musa

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

NIGERIA DECIDES

NIGERIA DECIDES

Shell Digital Plan RESPONSIVE600x750
Shell Digital Plan RESPONSIVE600x750
GTB
JoinOurWhatsAppChannel