Every employee or contributor under the new pension scheme is expected to open RSA in his/her name with a PFA of his/her choice into which all his/her contributions and returns on investment are paid.
A Retirement Savings Account (RSA) is a pension account maintained with a Pension Fund Administrator (PFA) such as Fidelity Pension Managers, followed by the issuance of a distinctive Personal Identification Number (PIN) by the National Pension Commission (PenCom). Monthly contributions of employer and employee are paid. 10% Employer contribution and 8% Employee contribution.
Fidelity Pension Managers Limited Charges an Administrative fee of ₦100.00 monthly, deducted from the monthly contributions on each RSA holder.
Fidelity Pension Managers Limited charges an administrative fee of;
₦20 for contributions below ₦5,000 for Micro Pension
₦80 for contributions above ₦5,000 for Micro Pension