Pencom approves transfer of N723m into contributors’ accounts

Anohu-Amazu said 13,921 applications were received for transfer of National Pension Funds totaling to N820.42 million

The National Pension Commission said on Friday that it approved the transfer of N723.54 million into the Retirement Savings Accounts of 10,866 applicants in the second quarter of 2013.
The commission’s Acting Director General, Chinelu Anohu-Amazu, said this in an interview with the News Agency of Nigeria in Abuja.
Anohu-Amazu said 13,921 applications were received for transfer of National Pension Funds totaling to N820.42 million.
She said that 2,425 applications were rejected due to incomplete documentation, duplication of application, among others.
According to her, there are certain criteria every contributor must abide with in making request for the transfer of his or her national pension funds.
Anohu-Amazu said the rejected applications did not meet those criteria.
She said: “The commission in the second quarter of last year reviewed 13,921 requests received for the transfer of NPF/NSITF contributions  amounting to N820.42 million into contributors’ RSAs.
“The commission reviewed and approved the transfer of N723.54 million into the RSAs of 10,866 applicants.
“It, however, rejected 2,425 applications due to incomplete documentation, zero balances and duplicated applications.”

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