N10bn transferred to RSA holders of NSITF – PenCom

The Director General of the National Pension Commission, Aisha Dahir-Umar has revealed that about N10.2 billion has been transferred to the Retirement Savings Account (RSA) of employees of the Nigerian Social Insurance Trust Fund (NSITF).

The DG stated this pn Thursday in Abuja at the consultative forum with the Organised Private Sector (OPS) on the Contributory Pension Scheme.

“Following the enactment of the PRA, the Commission was saddled with the responsibility of supervising the transfer of the Nigerian Social Insurance Trust Fund (NSITF) contributions of employees into their respective RSAs under the CPS. To date, contributions worth N10.20 billion have been transferred to the RSAs of 142,486 NSITF Scheme contributors.

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Represented by Dr. Umar Farouk Aminu, Commissioner Administration of the Commission, she noted that “In order to ensure that all contributors under the NSITF Scheme have their NSITF contributions transferred to their RSAs, the Commission had severally featured advertorials in National Dailies requesting NSITF contributors to apply for the transfer of their contributions,” she said

Director-General of NECA, Mr. Adewale-Smatt Oyerinde noted that sustainability is key to the growth and development of every enterprise, which is why the Contributory Pension Scheme has provided a future guarantee for businesses.