Retirement Savings Account

A Retirement Savings Account is a savings account into which your monthly retirement contribution is paid by your employer.

Voluntary Contributions

Increase your retirement savings with voluntary contributions. The funds will be invested alongside the mandatory contributions in your RSA.


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RSA Fund Prices

Fund I Unit Price 1.0680
Fund II Unit Price 3.0092
Fund III Unit Price 1.1500
Fund IV Unit Price 3.0018

To open a retirement savings account:

  • Download and complete a copy of our RSA Opening Form.
  • Submit the form at any of our offices nationwide.

As soon as an RSA PIN has been generated for you:

  • The details will be sent to you via SMS and email.
  • The RSA details (RSA PIN and PFA’s name) contained in the message you receive should be provided to your employer
  • Your employer will make use of the RSA details for the remittance of your monthly pension contributions.

We will also notify you of the Username and passcode which will enable you access your RSA online.

Highlights on the Guidelines for withdrawals from Voluntary Contributions

This refers to additional contributions (after the mandatory deductions) from your salary to your RSA where your regular pension contribution will not be sufficient to meet your personal retirement goals. The funds will be invested alongside the mandatory contributions in your RSA, thereby ensuring that your money works harder for you.

Making voluntary contributions is easy as all you need to do is

  • Determine an amount that is convenient for you to contribute in addition to your mandatory monthly contributions.
  • Notify your employer to deduct the pre-determined amount from your salary and include the value in the amount to be remitted to our Custodian.
  • The Employer should ensure that the Voluntary Contribution is indicated on the Contribution schedule which is to be sent to our Custodian.


Benefits of Voluntary Contributions

  • Voluntary Contributions are deducted from your total emolument before tax is applied; hence the contribution is Tax Exempt.
  • Voluntary Contributions are flexible such that the amount to be contributed, the periodicity of contributions and withdrawals are determined by the RSA Holder.
  • Voluntary Contributions can be withdrawn at the discretion of the RSA Holder. Withdrawal after 5 years of a contribution is tax exempt however, withdrawal within 5 years is subject to tax on income earned



HR Managers

If you are an HR Manager and want to get further information on how to remit the pension contributions of your staff to their Retirement Savings Accounts (RSA), Approved Schemes, or any of our services, please send an e-mail to or visit any of our offices.


To register a New Company 

Is your company registered under the contributory pension scheme (CPS)? If No, then you need to register your organization with the National Pension Commission (PenCom) for the allocation of a unique employer code.

The employer code is required to open retirement savings account (RSA) for your staff members and generate the personal identification numbers (PINs) for individual employees. The employer code is also required when remitting the monthly pension contributions of staff.


To request for an employer code, simply provide the details in the list below and forward to


Required details

  • A copy of the organization’s certificate of incorporation (C of I) or business name registration certificate
  • RC/BN NO – As indicated on the Certificate of Incorporation/Registration and assigned by CAC or any entity that approved the organization’s legal existence
    • RGW assigned by the Budget Office of the Federation
  • Employer Name- Full employer name without abbreviations (this should be as indicated on the C of I)
  • Employer Address- Current address with the street name and number, location and town is to be stated
  • Nature of Business – state the kind of business the organization does
  • Employer Contact E-mail Address – The e-mail address to reach employer/organization when employer code is generated by PenCom
  • Quoted(Q)/Unquoted(UQ) – Indicate “Q” if the company is listed on the Nigerian Stock Exchange  and “UQ” if the company is not listed on the Nigerian Stock Exchange
  • Taxpayer ID No (TIN) – As issued by the Federal Inland Revenue Service (FIRS) to the company


06 Sep 2018

AXA Mansard, Premium and Stanbic IBTC pensions lead fund performance in 2018
Wednesday 08 August 2018, Business Day