Under the section 53(2)of the Pension Reform Act 2014, the law states that “The funds contributed to the Nigeria Social Insurance Trust Fund by any person before the registration of a pension fund administrator under this Act including any attributable income thereof not required for the purpose of administering minimum pension as determined by the Commission shall be computed and credited into the respective retirement savings accounts opened under this Act by each contributor or beneficiary of the contributions made under the Nigeria Social Insurance Trust Fund Act. ”
This means that the Pension Reform Act 2014 allows all contributors that have balances from contributions under the Nigeria Social Insurance Trust Fund (NSITF) Act to transfer their balance to their new Retirement Savings Account (RSA) residing with a Pension Fund Administrator.
FCMB Pensions Limited provides this service to its contributors. Simply submit your original NSITF membership certificate along with a completed copy of NSITF Transfer Form and valid means of identification at any of our offices nearest to you. To view our office addresses and service centres nationwide click HERE
Where the original NSITF membership certificate is unavailable, the contributor would be required to complete an NSITF Indemnity Form and submit to us. After receiving the application for fund transfer, we will then liaise with NSITF on your behalf to have the funds in your NSITF account transferred to your Retirement Savings Account.
In order to download a copy of the NSITF Transfer Form, click HERE
Please note that the National Pension Commission (PenCom) has directed that ALL RSA holders (Active and Retired) should carry out data update exercise.