National Pension Commission (PenCom) has disclosed that the total number of Retirement Savings Account (RSA) Registrations as at 28 February 2021 is 9,265,141, this shows an increase of 28,300 for the Month of February 2021 compared to the 9,236,841 as at 31 January 2021.
PenCom did not disclose the breakdown of RSA Registration based on Age and Gender as at 28 February 2021. PenCom for a while now has not been disclosing the breakdown of RSA Registration based on Age and Gender in its monthly report and even in its Annual Report for 2019. In recent times, PenCom has only released the breakdown of RSA Registration based on Age and Gender for the quarter ended 30 September 2020 and 31 December 2020. Also, PenCom did not release the monthly reports for RSA registrations as at 30 June 2019 to 29 February 2020, PenCom resumed the publication of the monthly report as at 31 March 2020 without the breakdown of RSA Registration based on Age and Gender.
We look forward to a time when the Regulator, National Pension Commission (PenCom) will release the monthly report for RSA Registrations per Fund, per Pension Fund Administrator (PFA) along with the breakdown based on Age and Gender. This will enable stakeholders and industry analyst measure PFA performance based on RSA registrations per Fund, along age brackets, sector and gender.
The total number of Retirement Savings Accounts (RSA) registrations month on month post Covid-19 lockdown was at par with the average for year 2019 as at September 2020 but the number went down from October to December 2020. The number of RSA registrations increased in January and February 2021 compared to the figure for December 2020. See table below;
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