CPS: What You Should Know about Data Recapture Exercise

The National Pension Commission (PenCom) has asked all Retirement Savings Account (RSA) holders to visit any branch of their Pension Fund Administrators (PFAs) to participate in the ongoing Data Recapture Exercise (DRE). The exercise, which commenced in August 2019, is for both active contributors and retirees whose data have not been recaptured.

The DRE was initiated to obtain RSA holders’ current, complete and accurate data. The DRE complies with the Federal Government’s directive that all data-generating organisations should harmonise their databases with the National Identity Management Commission (NIMC). It is also consistent with the need for a credible database of all RSA holders in Nigeria. In that regard, PenCom designed, developed and deployed an Enhanced Contributor Registration System (ECRS), which has been integrated with the NIMC to authenticate the uniqueness of individuals seeking to register under the Contributory Pension Scheme (CPS) and existing RSA holders who wish to update their records.
RSA holders in the public sector, private sector organisations and retirees must participate in the data recapture exercise to update their biodata and biometric (picture and signature) information. There are several implications of not participating in the DRE. For instance, only RSA holders who have completed their data recapture can transfer their RSAs from the current PFA to another PFA consistent with PenCom’s approval.

Contributors who are yet to be recaptured cannot access retirement benefits at retirement to ensure that payments of retirement benefits are to the actual contributors. Furthermore, temporary access to RSA for 25 percent of the RSA balance in the case of job loss is only available for RSA holders that have successfully recaptured their data.

RSA holders with multiple PINs that failed to recapture their data would face delays in resolving their situations. In addition, having numerous PINs would lead to incorrect remittances by employers and delay the payment of retirement benefits due to the need to reconcile the RSAs. Therefore, contributors with multiple RSA PINs must present all their RSA PINs to their PFA at the point of data recapture.

It is also important to point out that not participating in the DRE affects the ability of RSA holders to update registration records in the future. For instance, an RSA holder cannot make updates relating to a name change due to marriage or a change of an employer or even a Next of Kin (NoK). Thus, it is in the interest of the RSA holder to participate in the DRE to avoid undue delays in accessing services from PFAs.

To fast-track the DRE, PenCom approved a proposal of the PFAs under their umbrella body, the Pension Operators’ Association of Nigeria (PenOp), for an industry Shared Service Initiative (SSI). Consequently, the PFAs engaged two agents, Payone Solution Systems Limited and Afritech Multi Concept Limited, to carry out the DRE consistent with PenCom’s approval. The agents are authorised to establish data recapture centres. Therefore, RSA holders are allowed to have their data recaptured at such centres by the agents (if they cannot visit the offices of their PFAs). This arrangement has enhanced efficiency in carrying out the exercise as it would allow an agent to recapture all RSA holders in the same organisation on behalf of all PFAs. The selected agents can also carry out NIN registrations seamlessly because of the partnership between PenCom and NIMC.

It is imperative to state that PenCom has directed all PFAs to issue Acknowledgement Slips to RSA holders who submit complete documents for their data recapture. The RSA holders are notified via text messages of the status of their data recapture (successful or not successful) within five working days of submission of documents.

Active contributors should visit their PFAs and provide their Staff Identity Card or any valid means of identification (National Driver’s License, Permanent Voter’s Card or International Passport). In addition, they are to present their Enrollment Slip issued by NIMC and Birth Certificate or Sworn Affidavit of Age Declaration for the DRE.

Retirees on programmed withdrawal or annuity should present any valid means of identification (National Driver’s License or Permanent Voter’s Card or International Passport), Enrollment Slip issued by NIMC and Letter of Retirement issued by the employer to the retiree for the DRE.
Finally, RSA holders, who have changed either their surnames or first names or both after registration, should present the following to their PFA to be recaptured: Marriage Certificate (only applicable in the case of marriage);
Newspaper publication for change of name; and
Sworn Affidavit and Confirmation Letter for change of name from employer (if still in employment). 

PenCom remains committed to providing necessary support to the pension industry to ensure the success of the DRE. For enquiries or complaints on the Data Recapture Exercise, please get in touch with PenCom on the following telephone numbers: 094603930, 094603939 and 07066924512, or by e-mail: dre.complaints@pencom.gov.ng.