DG PenCom

By Ngozi Onyeakusi—The National Pension Commission (PenCom) has directed Retirement Savings Account (RSA) holders to visit any branch of their Pension fund Administrators (PFAs) to participate in the ongoing Data Recapture Excercise (DRE) .

SUPERNEWS Nigeria recalled that DRE Excercise with commenced in 2019 is for both active contributors and retirees whose data has not been recaptured.

According to PenCom, DRE was initiated to obtain RSA holders current, complete and accurate data in compliance with the Federal Government’s directive that all data-generating organisations should harmonise their data with the National Identity Management Commission ( NIMC).

It is also consistent with the need for credible database of all RSA holders in Nigeria.

In that regard, PenCom designed, developed and deployed an Enhanced Contributors Registration System ( ECRS) which has been integrated with the NMIC to authenticate the uniqness of individuals seeking to register under the Contributory Pension Scheme ( CPS) and exciting RSA holders who wish to update their records.

RSA holders in public and private organisations and retirees must participate in the data Recapture Excercise to up the biodata and biometrics information.

Speaking on importance of the exercise, PenCom noted that ;

Only RSA holders who have completed their recapture can transfer their RSA from their current PFA to another consistent with PenCom’s approval.

Similarly, Contributors who are yet to be captured cannot access retirement benefits.

Furthermore, temporary access to RSA for 25 percent of the RSA balance in the case of job loss is only available for RSA holders who have successfully captured their data.

RSA holders with multiple PINs will lead to incorrect remittances by employers and delay the payment of retirement benefits due to the need to reconcile the RSAs.

Therefore contributors with multiple PINs must present all their PINS to their at the point of data capture.

It is also important to point out that none participating in the DRE exercise affects the ability of the RSA holders to update registration records in future.