Transfer of NSITF Contributions to RSA – PensionNigeria

Transfer of NSITF Contributions to RSA

The National Pension Commission (PenCom) during the 3rd quarter of 2020 received 14 batches of NSITF transfer applications on behalf of 220 NSITF contributors. Accordingly, approval was granted for transfer of the sum of N13,699,738.72 to the Retirement Savings Accounts (RSAs) of the 220 contributors.

PenCom report further disclosed that the Monthly NSITF Scheme Pensions continued with the approval for payment of the sum of N62,257,393.08 as monthly pensions to 3,628 NSITF pensioners.

NSITF represents all contributions remitted to National Provident Fund (NPF) and /or National Social Insurance Trust Fund (NSITF) by registered employers on behalf of their employees covering the period January 1962 to June, 2004. The Pension Reform Act provides that contributions into the NSITF SCHEME together with accrued income shall be transferred into members Retirement Savings Accounts (RSAs) effective July, 2009.

If your employer made contributions to NSITF on your behave and you are yet to transfer same to your Retirement Savings Account (RSA) you should contact your Pension Fund Administrator (PFA) and or Trustfund Pensions immediately.

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