The Pension Fund Operators of Nigeria have called on participants in the Contributory Pension Scheme to do data recapture.

In multiple posts on its social media platforms, PenOp stated data recapture enables seamless payment at the right time.

The Data Recapture Exercise is a mandatory exercise requiring all Retirement Savings Account holders to update their information with their Pension Fund Administrator. This is in line with the RSA registration guidelines of the National Pension Commission.

A prerequisite for completing the exercise is the possession of a National Identity Number, which facilitates the synchronisation of an RSA holder’s details with those documented by the National Identity Management Commission.

“Your DRE is a small step that keeps your retirement dreams moving forward without obstacles. By ensuring your information is accurate and secure, you’re protecting your benefits and setting yourself up for seamless payments when the time comes,” PenOp stated.

The association added that without data recapture, RSA holders’ data remains unsecured and outdated; they may miss out on quick, stress-free payment, and their RSA may not reflect recent life and job changes, with pension benefits delayed.

“Don’t let old records hold back your retirement dreams. Recapture your data today. “It’s quick, seamless, and right at your fingertips,” the body urged.

PenOp is the umbrella body for licensed pension funds in Nigeria, established to promote the pension industry and ensure adherence to international best practices.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Contact: [email protected]