PenCom to bring NIN registration closer to you to accelerate Data Recapture

The National Pension Commission (PenCom), has approved a proposal by the Pension Operators’ Association of Nigeria (PenOp), for an industry Shared Service Initiative (SSI), to expedite the Data Recapture Exercise (DRE) of all registered Retirement Savings Account (RSA) holders, under the Contributory Pension Scheme (CPS).

The DRE is an exercise embarked upon by PenCom to recapture the personal details of all registered RSA holders. The RSA holders are to, among other things, provide their National Identification Numbers (NIN), to their Pension Funds Administrators (PFAs), in line with the Federal Government’s directive that every Nigerian must have a NIN.

The Acting Director-General, PenCom, Aisha Dahir-Umar, said, PenCom had earlier directed PFAs to embark on the recapturing exercise but the inability of some RSA holders to provide the NIN among other challenges, had affected the speedy conduct of the DRE by PFAs. Speaking in an Interview with The Guardian, the Acting DG said, the Shared Service Initiative (SSI) would make it easy for RSA holders to obtain NIN.

She said the Shared Service Initiative (SSI) would involve engaging some vendors to conduct the DRE on behalf of PFAs, noting that the arrangement would enhance efficiency in carrying out the exercise, as it would enable a vendor to recapture all RSA holders in the same organisation.

She maintained that the major criteria for selecting the vendors were their registration with National Identity Management Commission (NIMC), and ability to carry out NIN registrations on its behalf.

She concluded that the Shared Service Initiative (SSI), which is expected to commence soon, will resolve some of the lingering challenges that militate against the Data Recapture Exercise (DRE) and She re emphasized that PenCom remains committed to providing necessary support to the pension industry to ensure the success of the DRE.