Update on the RSA Transfer System (RTS) Q42021

April 16, 2022 PensionNigeria

The National Pension Commission has released its report on Retirement Savings Account (RSA) holders that transfer their RSA from one Pension Fund Administrator (PFA) to another.

The report shows that 12,874 Retirement Savings Account (RSA) holders initiated RSA transfers from one Pension Fund Administrators (PFAs) to another, in the 4th quarter of 2021, the RSA holders moved N42,493,258,655.54 between the PFAs.

PenCom further stated that the total RSA transfers since the launch of the RSA Transfer System on 16 November 2020 is 51,392 and the RSA holders have moved a total of N190,620,226,831.40 between the PFAs.

With the opening of the Transfer Window, retirees can now move from one PFA to another but the transfer window is structured in such a way that, even though RSA holders are allowed to submit transfer requests at any time, the actual transfers only happens at the end of every quarter and only transfer requests submitted in the 1st and 2nd month of a quarter are treated at the end of that quarter while transfer requests submitted in the 3rd month of a quarter are treated at the end of the following quarter.

If you are thinking of changing your PFA you should check out
How to change your PFA and What to do afterwards
FAQs on RSA Transfer Window – What You Should Know

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