RSA contributors remitted N272.15 bn in Q3 2021

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The National Pension Commission (PenCom,) said pension contributions remitted to individual RSAs in Q3 2021 stood at N272.15 billion.

This is contained in the commission’s third quarter report released in January 2022 that out of this total, the public sector accounted for N170.96 billion or 62.82%, while the private sector contributed N101.19 billion or 37.18%.

It added that the cumulative pension contributions from inception to the end of the third quarter of 2021 amounted to N7.37 trillion, which is an increase from N7.10 trillion as at the end of Q2 2021.

Meanwhile, the commission has said that a total of 12,877 RSAs holders initiated RSA transfers at the end of third (Q3) 2021, which was concluded in the first week of October 2021.

This was disclosed by the commission through it third quarter report released this month that this covered RSA transfer requests submitted by PFAs between 1 June 2021 to 31 August 2021, which were eligible for RSA transfer in the third quarter of 2021.

The commission noted that out of the total RSA Transfers initiated, 12,872 RSAs were transferred to their new PFAs along with their associated pension assets, while 5 RSAs were outstanding due to non-upload of the transaction history of their RSAs.

The total value of the pension assets in respect of the 12,872 RSAs transferred was N45,5millon.

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