That your Life span is determined by the Age of Retirement?

That there are strict restrictions on how PFAs can invest Pension Funds?

That your Life span is determined by the Age of Retirement?

That your Next of Kin does not automatically become the beneficiary of your RSA?

That if you take the maximum lump sum from your RSA you will in turn take the minimum Monthly Pension and vice versa?

That it is mandatory to inform your PFA 6 months before Retirement so that your benefits can be paid on time?

That the money paid to you during retirement is called PREMIUM?

That you can make Additional Voluntary Contributions (AVC) to your RSA through your employer?

That Retirement is at Age 60 or after 35 years of service?

That as a Retiree you can structure how your retirement payments can be made – monthly or quarterly?

That you can move from Programmed withdrawal to Annuity but NOT BACK to Programmed Withdrawal?

That you can withdraw up to 50% of your RSA balance as lump sum upon Retirement?

That you can access 25% of your RSA balance if you are out of employment for 4 months?

That the Federal Government has no access to pension funds except through pension investments like FGN Bonds?

That Closed Pension Fund Administrators manage the pension funds of ONLY their staff and not the general public?

That if you change employment your RSA can still be used at your new employment? It is in your name for Life!

That all PFAs and PFCs give regular reports to PENCOM on their daily activities?

That no PFC can invest Pension Funds without the knowledge and instruction of the PFA?

That no PFA is allowed to hold Pension Funds at any given time?

That a company with as low as 3 employees MUST register to join the Contributory Pension Scheme?

That the Pension Fund Custodians (PFCs) are the warehouse for Pension Funds?

That pension contributions are not subjected to tax?

That PenOp and NIBBS have created a web based e-payment for easy pension contributions to be done online?

That the monthly percentage that should be remitted by both the employer and the employee is 10% and 8% respectively?

That it is an offence if an employer does not remit monthly contributions for his employees within 7 days of paying salaries?

That the CPS was first created in the Reform Act of 2004 but it was later modified in the PRA 2014?

That you can open an RSA account online with any PFA of your choice?

That women have a longer life span than Men? 2 years actually!

That the new Pension scheme covers both private and public sector?

That the Nigeria Social Insurance Trust Fund was set up to take over the National Provident Fund?

That the National Provident Fund (NPF) was the first formal pension scheme in Nigeria established in 1961?

That the first private sector Pension Scheme was setup for employers of Nigerian Breweries in 1954?

The Contributory Pension Scheme Has Evolved to Better Fit Your Lifestyle, Read More

RSA Means Retirement Savings Account, To Find Out More Click Here

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