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The launching of the RSA Transfer window (RTS) on 16 November 2020 heralded the full implementation of one of the cardinal features of the Contributory Pension Scheme (CPS), the portability of RSAs. By this development, RSA holders have been empowered to move their RSAS from their current Pension Fund Administrators (PFAs) to other PFAs of their choice, whenever they desire to do so.

The RTS is a fully automated, efficient and transparent process that has pre-defined timelines. It ensures hassle-free movement of RSAs across PFAs. The transfer of RSAs involves the movement of pension assets between PFAS and the entire process attracts the full weight of the Commission’s regulatory surveillance. The fact that the process has been completely free of charge has also given RSA holders an added advantage.

The opening of the Transfer Window, as it is popularly referred to, has been embraced by a large number of RSA holders in their quest for better service delivery and returns on investment from PFAs. The Commission has ensured that the requirements for initiating RSA transfers are minimal, and has made these requirements as well as the necessary information to guide RSA holders through the process available on its website (

The response by RSA holders to the opening of the RSA Transfer Window contributors has been encouraging. In the maiden Transfer Quarter, which ended on 31 December 2020, a total number of 2,799 RSA holders transferred their RSAs to various PFAS. This number more than quadrupled in the next Transfer Quarter, which ended on 31 March 2021, as a total number of 12,681 RSA transfers took place.

A consistently upward trend is anticipated, as RSA holders continue to realize the ease with which they can initiate the transfer of their RSAS. Overall, the opening of the RSA Transfer Window is revolutionary. Going forward, high standards of service delivery will remain a focal point in the Pension Industry.

Source: PenCom

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