National Pension Commission (PenCom) has disclosed that the total number of Retirement Savings Account (RSA) Registrations as at 30 June 2020 is 9,039,748. This shows an increase of 23,424 for the Month of June 2020 compared to the 9,016,324 as at 31 May 2020.
The total number of new Retirement Savings Accounts (RSA) opened by Pension Fund Administrators (PFA) has started to increase gradually (April 6,931, May 10,826 and June 23,424) though it is still not any where near the average of 44,079 per month for January 2015 to September 2019.
PenCom only released the total figures as at 30 June 2020 without releasing the breakdown based on Age and Gender as was done previously as seen in the reports up to as at 31 May 2019. PenCom did not release the monthly reports for RSA registrations as at 30 June 2019 to 29 February 2020, the figure used for 30 September 2019 was disclosed by PenCom Head of corporate communications, PenCom resumed the release of the monthly report as at 31 March 2020 and has been releasing only the total figures since then.
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 analysts measure PFA performance based on RSA registrations per Fund, along age brackets and gender.
PenCom Report on Retirement Savings Account (RSA) Registrations as at 30 June 2020