Retirement Savings Account (RSA)
The Retirement Savings Account (RSA) is a retirement plan account opened by an employee and maintained by a Pension Fund Administrator for the purpose of saving towards the employee’s retirement.
The account is contributed into by the employer and the employee monthly up to retirement or exit of the employee from the organization. Eight percent and ten percent of the employee’s monthly total emolument comprising of the basic, transport, and housing allowances are contributed monthly by the employee and employer respectively. If the employer chooses to make all the contributions, he is to pay 20% of the employee’s monthly total emolument. The account is portable which means that you can change your employer and maintain the same account.
To open a retirement savings account, download and fill a copy of Veritas Glanvills RSA Form. Complete all fields and submit a signed and clearly thumb-printed copy of the form to our nearest office in your location, or via email at email@example.com.
On receipt of your duly completed form and the required supporting documents, we shall obtain a Personal Identification Number (PIN) for you through the National Data Bank (NDB) of the National Pension Commission (PenCom) and notify you via SMS. A hardcopy of your membership certificate will be sent to the address you indicated on your RSA form. Please inform your employer/HR of your PFA details (PIN/PFA name, PFC account details) as provided on your membership certificate. Consequently, we will notify you via SMS once contributions have been remitted to us by your employer.
Talk to us today, we are here to ensure that your retirement needs, and plans are achieved. For more information, please call 01-2803550, +234 8023297262.