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PenCom urges RSA holders on regular data update

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The National Pension Commission (PenCom), has advised all Retirement Savings Account (RSA) holders to update their data regularly through their various Pension Fund Administrators (PFAs).

Mr Peter Aghahowa, Head, Corporate Communication of PenCom  gave the advice in an interview with Nigeria News Agency on Tuesday in Abuja.

He said one of the reasons the payment of some retirees’ pension were delayed was because they were not coming forward for data recapturing which provides the basic information.

Aghahowa said the process of data recapturing required the use of Bank Verification Number (BVN), National Identification Number (NIN), fingerprint and other basic information.

According to him, the information provided by RSA holders help the PFAs in updating previous data about their clients.

This, he said ensured transparency in their data, which was the essence of the recapture.

“For people retiring, its very important to recapture. This is because if they don’t, they will find it difficult to access their funds. Some people who still have time to retire don’t take recapturing important till they are set to retire, ” said Aghahowa.

The spokesman said the commission collected a lot of information at the commencement of the Contributory Pension Scheme (CPS), but later started cleaning up the data for improved service delivery.

He also said PenCom recently came up with an enhanced contributory registration system, adding  that it was all about data integrity.

The spokesman noted that the PFAs were also asked to reach out to their clients and get the information so they could update their data.

“Its the duty of the PFAs to reach out to these clients and most of them have been doing so. Infact, some PFAs’ have been innovative in their quarterly statements sent to clients.

“For example, there has been advertisements. In all fairness, they have tried to reach out in several ways and its still ongoing. Remember to come for your recapture, ” he said. 

Edited by: Olawunmi Ashafa/Ese E. Ekama

Contact US: editor@nnn.com.ng, nnnnews247@gmail.com

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