Nigeria: Plans to Establish Transfer Clearing System

The National Pension Commission (PenCom) is proposing to establish the Transfer Clearing System (TCS) which shall serve as a control where transfers of Retirement Savings Accounts (RSAs) are processed, reconciled and monitored. The operations of the TCS shall be based on electronically driven infrastructure and the TCS shall have an interface with all Pension Fund Administrator (PFAs) and Pension Fund Custodians (PFCs) to facilitate transfers between the PFAs.

This formed part of the proposed regulations for transfer of RSA from one PFA to the other in accordance with the provisions of the Pension Reform Act 2004.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.