The Nationwide Pension Fee has rolled out a brand new self-service on-line platform that permits pension contributors to finish the obligatory information recapture course of remotely.
That is in accordance with a press release printed on PenCom’s official web site saying the launch of the Knowledge Recapture Self-Service Platform for Retirement Financial savings Account holders.
The improve is aimed toward resolving long-standing challenges round incomplete pension data, delays in profit entry, and congestion at PFA places of work throughout the nation.
What PenCom stated
The platform, referred to as the Knowledge Recapture Self-Service Platform (PENCAP), allows RSA holders to replace their private particulars, together with biodata and biometric info, via a safe on-line portal.
PenCom stated the initiative was developed in collaboration with the Pension Fund Operators Affiliation of Nigeria (PenOP) and licensed PFAs to enhance the accuracy of pension data, improve service supply, and modernise pension administration via digital channels.
“The introduction of the Knowledge Recapture Self-Service Platform is a part of our ongoing efforts to modernise pension administration, improve service supply, and guarantee correct and up-to-date data for all RSA holders,” the Fee stated within the assertion.
The platform is focused primarily at contributors who joined the Contributory Pension Scheme on or earlier than July 1, 2019, and haven’t accomplished the info recapture train.
Entry begins from February 1, 2026, by way of PenCom’s devoted portal.
Background
The Knowledge Recapture Train was first launched in August 2019 to handle long-standing gaps within the pension database and guarantee correct and up-to-date data for all Retirement Financial savings Account holders.
On the time, PenCom launched an Enhanced Contributor Registration System built-in with the Nationwide Identification Administration Fee (NIMC) to confirm identities and harmonise RSA data with nationwide identification information.
- Final yr, they mandated all Retirement Financial savings Account holders to endure a knowledge recapture train to replace their biodata and biometric info, mandating the usage of Bank Verification Numbers (BVN) for Retirement Financial savings Account registration and information recapture.
- By mandating the inclusion of BVNs, the Fee goals to cut back the dangers related to identification fraud, streamline RSA administration, and guarantee higher alignment with Nigeria’s monetary system rules.
- The information recapture train is obligatory and straight impacts entry to retirement advantages, retiree verification, and the decision of a number of RSA points.
Extra insights
Eligible RSA holders can entry the platform by way of the PenCom information recapture portal.
Customers will want an internet-enabled smartphone, laptop computer, or pc with a working digicam
- A sound private electronic mail handle, and
- Related identification paperwork for add.
- The method additionally requires stay facial seize for biometric verification and a digital signature to finish the train.
What it is best to know
In accordance with BusinessTimes report, Nigeria’s whole Retirement Financial savings Account (RSA) registrations reached 10.19 million by the top of 2023, up from 9.86 million in 2022, whereas whole pension belongings grew by a exceptional N3.36 trillion to N18.36 trillion, marking the quickest year-on-year progress on document at 22.43%.
- The Contributory Pension Scheme (CPS) now covers over 10 million Nigerians, together with public servants, personal sector workers, and casual employees below the Micro Pension Plan.
- The fee disclosed that greater than 552,000 retirees presently obtain common month-to-month pensions, whereas over 844,000 retirees throughout private and non-private sectors have accessed both month-to-month or lump-sum advantages.
- Its Private Pension Plan (PPP), previously the Micro Pension Plan (MPP), has emerged as one of many fastest-growing segments of Nigeria’s pension trade, recording a exceptional ninefold enhance in contributions over the previous 4 years. Contributions grew from N168.63 million in June 2021 to N1.46 billion by June 2025
