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Retiree Account

When an RSA holder retires from active service which may be as a result of mandatory retirement, compulsory retirement or retirement based on medical grounds, he/she may access the balance in the RSA. Upon attaining the age of 50 years, the Retiree is at liberty to choose between Programmed Withdrawal offered by Radix Pension Managers or Annuity offered by a licensed Insurance Company.

Where a Retiree opts for programmed withdrawal, the RSA balance must have been transferred to the Retiree Fund Account Lump Sum/Programmed withdrawal. Where the Retiree opts for Annuity as against Programmed Withdrawal, Lump Sum is to be paid from the Retiree fund account and the RSA Balance (premium), transferred to an Insurance Company of choice.

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The main objective of the Data Recapture Exercise is to obtain complete and accurate data of all RSA holders (both active and retired) in line with the provisions of Section 23(e) of the PRA 2014. • The Exercise will further enable PFAs to obtain the National Identity Numbers (NIN) of their RSA holders to ensure compliance with NlMC’s minimum biodata requirements and the use of NIN as a unique identifier for all Nigerians. • It would provide a platform for the collation of relevant information on employees of Federal and State Government Treasury Funded MDAs who transited from the erstwhile DB Scheme to the CPS. The information would facilitate the expeditious computation of their accrued rights and eliminate the need for yearly enrolment of those due for retirement.

FUND INFORMATION

April 4th, 2024

Fund 1

1.6648

Fund 2

3.6446

Fund 3

2.1103

Fund 4

3.0971

Micropension

1.0862