Retirement Savings Account (RSA)
A Retirement Savings Account (RSA) is the personal pension account each employee holds with a Pension Fund Administrator under the Contributory Pension Scheme. The employee's contribution of at least 8% and the employer's contribution of at least 10% are paid into it every month.
A Retirement Savings Account (RSA) is the personal pension account each employee holds with a Pension Fund Administrator under the Contributory Pension Scheme. The employee’s contribution of at least 8% and the employer’s contribution of at least 10% are paid into it every month.
Each RSA is identified by an RSA PIN, which stays the same when the employee changes jobs. PenCom reported 11.18 million RSAs registered by the end of March 2026.
Employers should collect the RSA PIN before an employee’s first salary. See pension contribution in Nigeria.
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