The National Pension Commission (PenCom) has disclosed that the total pension assets transferred amongst Pension Fund Administrators (PFAs) as at June 2021, were valued at about N47.8 billion.
This was disclosed in a bulletin published by the commission on its social media handles.
The commission stated that it recorded a total of 12,681 Retirement Savings Account (RSA) transfer requests in the first quarter of 2021, which ended on March 31, 2021.
PenCom noted that this figure came in four folds of the figure recorded in the maiden transfer quarter which ended on Dec. 31, 2020, with a total number of 2,799 RSAs.
It further said it expects a consistent upward trend as RSA holders continue to realize the ease with which they can initiate the transfer of the RSA’s.
According to the commission, the development will birth healthy competition and improved service delivery within the pension industry.
