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 2014.
Features & Benefits
- Mandatory: Every employer with more than 5 employees is mandated by law to open RSA for all employees with a PFA.
- Contributory: This means that both the employer and employee will make monthly contributions into the RSA.
- Fully funded: The monthly contributions guarantee that the RSA remains fully funded to meet the liquidity needs at retirement.
- RSA funds will be accessible once contributor is 50 years old or can be 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 2014.
- Contributors will receive a quarterly Statement of Account.
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Fund Prices
- Fund I
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- Fund II
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- Fund III
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- Fund IV
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- Fund V
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- Fund VI Activee
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- Fund VI Retiree
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