Retirement Savings Account (RSA)

 

Retirement Saving Account (RSA) is a dedicated account opened with a Pension Fund Administrator as specified under Section 11 of the Pension Reform Act of 2004.

 

Features & Benefits

 

  • Mandatory: Every employer employing more than 5 employees is mandated by law to open RSA for all employees with a PFA.
  • Contributory: Means both the employer and employee will make monthly contributions into the RSA.
  • Fully funded: The monthly contributions guarantee that the RSA remain fully funded to meet the liquidity needs at retirement.
  • Access to funds begins at 50 years or subject to terms and conditions of service. The contributor has a choice of either a Programmed Withdrawal or Annuity option to receive his/her pension.
  • Strictly supervised and regulated by a regulator that has the power of granting licenses and enforcing compliance with PRA 2004.
  • Quarterly Statement of Account.

 

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Fund Prices

RSA Fund Unit Price
3.1914

Retiree Fund Unit Price
2.3993

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