Contributing to a Retirement Savings Account
In accordance with the Pension Reforms Act (PRA), your employer is required to make the following contributions from your salary to your Retirement Savings Account (RSA): The minimum is 10% for the employer and 8% for the employee. These payments are sent to our Pension Fund Custodian's (PFC) account information below and are credited to your RSA as instructed by your employer on the remittance schedule provided. Note that the remittance schedule is a document in excel format that contains details of all the beneficiaries for the remitted contributions. Account Name: ZPC/SIPML PENSION Account Number: 1010885522 Sort Code: 057150013 Bank: Any Branch of Zenith Bank Plc
Some of the benefits
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- As an employee, simply forward your Retirement Savings Account (RSA) Personal Identification Number (PIN) to your Human Resources Department and inform them of the Pension Fund Administrator (PFA) you have chosen. Your RSA PIN is a Prefix PEN with 12 digits i.e. (PENXXXXXXXXXXXX)
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As an employer, simply credit your staff retirement accounts by making payment into the account below and advise their PINs using this contribution schedule excel format. You will be required to have an employer code before remittances can be made.
Account Name: ZPC/SIPML PENSION
Account Number: 1010885522
Sort Code: 057150013
Bank: Any Branch of Zenith Bank Plc
- 18% of your monthly emoluments is to be contributed toward your retirement.
- 8% of this amount is from your monthly wages and the difference of 10% is contributed by your employer
- Only your employer can remit contributions on your behalf, individuals cannot remit by themselves.
- All contributions are invested on your behalf so your funds would continue to yield returns
- Increase your pension fund by making Voluntary Contributions
Do you need an employer code? Send an email to [email protected]
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How to Contribute to your RSA
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What Should I Know?
- As an employee, simply forward your Retirement Savings Account (RSA) Personal Identification Number (PIN) to your Human Resources Department and inform them of the Pension Fund Administrator (PFA) you have chosen. Your RSA PIN is a Prefix PEN with 12 digits i.e. (PENXXXXXXXXXXXX)
-
As an employer, simply credit your staff retirement accounts by making payment into the account below and advise their PINs using this contribution schedule excel format. You will be required to have an employer code before remittances can be made.
Account Name: ZPC/SIPML PENSION
Account Number: 1010885522
Sort Code: 057150013
Bank: Any Branch of Zenith Bank Plc
- 18% of your monthly emoluments is to be contributed toward your retirement.
- 8% of this amount is from your monthly wages and the difference of 10% is contributed by your employer
- Only your employer can remit contributions on your behalf, individuals cannot remit by themselves.
- All contributions are invested on your behalf so your funds would continue to yield returns
- Increase your pension fund by making Voluntary Contributions
Do you need an employer code? Send an email to [email protected]