5. ‪How long does it take to withdraw from your Retirement Savings Account (RSA).

We have not seen a fixed time within which it’s 100% guaranteed that you will be able to withdraw from your RSA from any Pension Fund Administrator (PFA) in Nigeria.
On average, we have seen people withdraw from their RSA within 2 weeks.
Listed below are the general stages that your application could go through, If you feel your request for withdrawal is taking too long, you should demand that your PFA informs you of the actual stage your application is.

The stages your application might go through;
‪Client submits complete documentation ‬
Pension Fund Administrator (‪PFA) verifies your documents ‬
‪PFA confirms that your employer has remitted all your pension contributions ‬
‪PFA sends your request for withdrawal to PenCom for approval ‬
‪PenCom reviews the application and approves it
‪PFA receives PenCom approval and sends to PFC‬
‪PFC (PFA bank) processes the payment and credits your bank account ‬

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