PenCom to sanction PFAs as only 17% of RSA holders recaptured
03 per cent of the industry’s legacy RSA holders had completed the mandatory data recapture exercise.
By Rosemary Iwunze The National Pension Commission (PenCom) has threatened to sanction Pension Fund Administrators (PFAs) that fail to meet prescribed targets under the ongoing Retirement Savings Account (RSA) data recapture exercise.
The Commission warned that, at the current rate, completing the outstanding recapture exercise would take more than 25 quarters.
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