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Nigeria: Retirement savings account transfer system

Nigeria: Retirement savings account transfer system

The National Pension Commission announced the launch of the retirement savings account transfer system, scheduled for 16 November 2020.

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The retirement savings account transfer system will allow retirement savings account holders to transfer their accounts from one pension fund administrator to another, pursuant to the provisions of the Pension Reform Act, 2014.

It is anticipated that this system will improve efficiency in the Nigerian pension industry.

Read a November 2020 report [PDF 162 KB] prepared by the KPMG member firm in Nigeria

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