By Nana Musa
The Pension Fund Administrators (PFAs) have commenced the rollout of the Data Recapture Self-Service Platform (PENCAP), withdrawals.
This is contained in a statement by the Pension Fund Operators Association of Nigeria (PenOP) Management in Abuja on Wednesday.
The management said that the platform would enable eligible Retirement Savings Account (RSA) holders to conveniently update their personal records remotely, without the need to visit PFA offices.
According to the statement, PENCAP is targeted at RSA holders who joined the Contributory Pension Scheme (CPS) on or before July 1, 2019 and are yet to complete the data recapture exercise.
It said that the successful deployment and implementation of the self-service process had been duly achieved through the coordinated efforts and execution by PenOp.
It said that the process was also achieved by leveraging its expertise in pension operations, data management, and digital process optimisation.
“The fully online process allows RSA holders to complete data recapture using any internet-enabled device, including live biometric capture and document uploads where required.
“The submissions are reviewed and processed by the contributor’s PFA, with automated notifications provided at every stage to ensure transparency and accountability,” it said.
The management said that the completion of the data recapture exercise was essential for accessing key pension services, including retirement benefit processing, retiree enrolment and verification, RSA transfers, and other approved transactions.
It said that eligible RSA holders who had not completed the exercise were encouraged to take advantage of the self-service option to avoid delays or restrictions.
It said that the introduction of PENCAP reflected the industry’s continued focus on digital innovation, improved efficiency, and enhanced contributor experience.
“PenOp is also playing a central role in supporting PFAs to deliver seamless and reliable service to RSA holders nationwide.
