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What you should know about data recapture for RSA holders

What you should know about data recapture for RSA holders

Data recapture – The growing need for transparency and accountability led to the introduction of the data recapture exercise by the National Pension Commission in 2018.

Thereafter, the guideline mandated all Pension Fund Administrators (PFAs) to obtain complete and accurate data of their Retirement Savings Account customers. This involves active and retired customers in line with the provision of section 23(e) of the Pension Reform Act (PRA).

Understanding the data recapture exercise

The data recapture exercise here refers to the process where RSA holders review and update their personal, employment, and Next of Kin information, etc. This is to ensure accountability and transparency in the administration of their RSA.

Why data recapture exercise?

  • To eliminate duplicate account
  • To improve data integrity
  • To capture up-to-date information

It’s required that your National Identity Number be linked to your RSA account with a view to eliminating duplicate accounts, this ensures compliance with the national minimum bio-data requirements.

The overall integrity can be improved by identifying and eliminating multiple registrations from the RSA data base.

PenCom has set a minimum standard, it’s then required that your information be updated to fall in line with the latest required standard according to the provision of the commission.

Requirements for data capture exercise

I deem it necessary to get you acquainted with items required of you to carry out this exercise.

General requirements

1. A completed data capture exercise form

2. Birth certificate or age declaration. NB: The date of birth as seen on either of the preferred certificate should be same as seen in your NIMC slip.

3. One colored passport photograph (4×4 by size)

4. A proof of address that comprise any of the below

a. National ID card

b. Utility bill not later than 3 months, which could be water bill, power bill, waste, etc.

c. Valid driver’s license

d. Recent tenancy agreements

e. Permanent voter’s card

f. Bank statement within the past 3 months.

5. Means of identification, which could be

a. National identity card

b. Bio data page of current international passport

c. Official company identification card

d. Driver’s license

e. Permanent voter’s card

6. National identity card or enrolment slip

Issued by the national management identity commission, indicating the NIN.

7. Authenticated bank verification number (BVN)

8. Staff file number

Clearly written on the data recapture form

9. Letters

Any of the below letters

  • Letter of employment for private sector employees
  • Letter of first employment for public sector employees
  • Letter of attestation for Police personnel

10. Transfer of acceptance of service

This is for public sector where required.

For federal government and IPPIS funded workers

1. Promotion letter/pay slip

This should indicate Grade Level and Steps as at 30 June 2004

2. Promotion letter/pay slip

This should indicate Grade level and Step as at July 2010 where applicable

3. Promotion letter/pay slip

This should indicate Grade Level and Steps as at December 2013 and 2016.

Conclusion

The data recapture exercise is a veritable one, it is advised to give heed to the recommendations of this piece since they form the basic requirements going into the exercise.

Are there concerns and challenges you are going through with the exercise, do level with me let’s get them sorted.

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