1. What is a Retirement Savings Account – PensionNigeria

1. What is a Retirement Savings Account

A Retirement Savings Account is an account you open with a Pension Fund Administrator for your pension contributions under the Contributory Pension Scheme.
Once you open a Retirement Savings Account you will be given a Retirement Savings Account Personal Identification Number usually called an RSA PIN. The RSA PIN comes with PEN and 12 numbers e.g PEN123456789012. An RSA PIN is unique to an RSA holder and are usually released serially.
You are to only open one Retirement Savings Account, if you move from one company to another you are to give the same Retirement savings account to your new employer to enable them send your pension contributions to your Pension Fund Administrator (PFA).

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