PenCom to Open Transfer Window Next Year, Official Confirmation.

National Pension Commission (PenCom) on Saturday disclosed that it would open the window to enable Retirement Savings Account holders transfer from one Pension Fund Administrator (PFA) to another, tentatively by June 2020.

Mr Peter Aghohowa, Head ,Corporate Communication, PenCom said this in an interview with the News Agency of Nigeria (NAN) on the sidelines of the 2019 media retreat organised by the Pension Operators Association of Nigeria (PENOP).

Aghohowa said that the fact that a date had been tentatively fixed indicated that work was in progress to actualise the mandate. He said that the pension operators and PenCom had been meeting and work had reached an advanced stage toward achieving the ideal.

He said, “One thing that is critical towards this, is the Enhanced Contributor Registration System (ECRS) that was recently launched. That is what is making our data integrity better, coupled with the fact that we are also linked with the National Identification Management Commission (NIMC) on issue of National Identification Number(NIN). “You can be sure that in a couple of months, the data we have will be integrous because it is a prerequisite for the transfer window and that is why we say we are getting closer and optimistic that we will reach the milestone.”