National Pension Commission (PenCom) has directed Pension Fund Administrators (PFAs) to carry out a Data Recapture Exercise to update and regularise the records of Retirement Savings Account holders.
The purpose of this is to ensure that the records of all Retirement Savings Account holders with Pension Fund Administrators are complete and accurate.
The update will guarantee the integrity of RSA holders records with PFAs and its a major requirement towards the introduction of the transfer window, which will enable contributors change from their primary PFAs, in line with Section 13 of the Pension Reform Act (PRA) 2014.
Its advisable that you contact your PFA to update your records, and if you are planning to withdraw from your Retirement Savings Account soon, you should contact your PFA to update your records IMMEDIATELY because we have received reports that its mandatory for you to update your records before you can withdraw from your Retirement Savings Account.
Below are the basic requirements we have gathered that are required for Data Capture with Pension Fund Administrators (PFA).
1. You will be given a form to fill by your PFA.
2. Birth Certificate or Declaration of Age (Your age must be the same on all your documents).
3. One Recent Passport Photograph.
4. Proof of address, any of the following – Utility bill within the past 3 months, Valid Driver’s License, Recent Tenancy Agreements, Permanent Voters card, Active Bank Statement (within the past 3 months) containing current address.
5. Means of Identification (any of the following – International passport, Employer issued ID Card, Divers licence or Permanent Voters card.
6. National Identity Card or Enrolment Slip (Compulsory)
7. Bank Verification Number
8. Letter of first appointment
Additional requirements for public sector
9. Promotion letters (2004-2007-2010-2013-2016)
10. Payslips (2004-2007-2010-2013-2016)
Please contact your Pension Fund Administrator (PFA) for more information.