The National Pension Commission (PenCom) says the data recapture exercise (DRE) is mandatory for retirement savings account ( RSA ) holders enrolled in the contributory pension scheme ( CPS ). In a statement on Friday, PenCom said RSA holders, who enrolled on or before July 1, 2019, and are active or retired, are mandated to participate in the exercise.
According to the commission, the recapturing exercise, which began in August 2019, arose from the vital requirement to collect and maintain current, comprehensive, and accurate data of RSA holders. “The DRE aligns with the federal government's directive for all data-generating organisations to harmonise their databases with the National Identity Management Commission (NIMC),” the commission said. “To facilitate the DRE, PenCom introduced the enhanced contributor registration system (ECRS). “The ECRS is designed to verify the uniqueness of individuals registering under the CPS and update existing RSA holders' records. The ECRS is seamlessly integrated with the NIM
National Pension Commission Pencom Data Recapture Exercise Retirement Savings Account RSA Contributory Pension Scheme CPS Mandatory NIMC Enhanced Contributor Registration System ECRS
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