Retirement Saving Account (RSA) is a dedicated account opened with a Pension Fund Administrator as specified under Sec 11 of the PRA of 2004.

Features & Benefits:

• Mandatory: Every employer employing more than 5 employees is mandated by law to open RSA for all her employees with a PFA. 
• Retirement Saving Account: The account is opened in the name of the individual contributor. The Act empowers the contributor to choose the PFA of his choice.
• Contributory: Means both the employer and employee will make monthly contributions into the RSA.
• Fully funded: The monthly contributions guarantee that the RSA remain fully funded to meet the liquidity needs at retirement.
• Privately managed: Means the assets in the RSA are managed by licensed PFAs.
• Access to funds begins at 50 years or subject to terms and conditions of service  The contributor has a choice of either a Programmed Withdrawal or Annuity option to receive his pension.
• Separation of custody of assets from management of the asset: This is done to increase transparency, improve due diligence and further secure the assets of the scheme from manipulation.
• Strictly supervised and regulated by a regulator that has the power of granting licenses and enforcing compliance with PRA 2004.

AVC is a sure way of achieving your retirement goal by contributing additionally into your Retirement Savings Account to boost your RSA balance.

Benefits of AVC.

• Your pension contributions are tax free.
• Access to higher return on investment because your contribution is integrated into our large pool of fund.
• It is also flexible in structure, you can pay, monthly, quarterly even yearly.
• Above all, it encourages disciplined savings culture and enables you to take absolute control of your after work life. Your statutory contributions i.e. 15% of your basic, housing and Transport may are not matched to your dream retirement plan. By executing an AVC agreement, you are able to make contributions to meet your own target retirement sum.

 Future Value of Different Contributions at 12% per annum

• e.g N20,000.00 paid monthly for 10 years and invested in the RSA fund will yield N4,600,774

I Want To Contribute Additional Sums to My RSA, What Do I do?

1. Kindly send a mail to your HR department to “Kindly debit my salary for the month of April 2009 for N50,000.00 and credit my Retirement Saving Account with same, being my Additional Voluntary Contribution (AVC) for the month of April 2009.”
2. Send an electronic transfer from your account to
   • Bank Name - UBA Plc
   • Account Name - UBA Custodians/Legacy Pension
   • Account Number - 01480010000033
3. Walk into any UBA plc branch nationwide and pay cash or cheque to the same account details above.

You will receive an instant SMS alert each time a credit is effected into your RSA. You can also request for a customised paying in teller. Note that Additional Voluntary Contributions are permitted under the Pension Reform Act of 2004

All contributors that have balances from contributions under the former NSITF scheme can transfer that balance to their new RSA with PFA.

Legacy Pension is providing this service to our contributors. Simply give us your original NSITF certificate and we will liaise with NSITF on your behalf to have the credit in your NSIFT account transferred to your RSA account. You can submit your original certificate to our nearest office along with other means of identification.

All our contributors can access world class financial advisory services through our associate company FCMB Wealth Being.

FCMB offers a personalized and customized financial planning solution to enable the contributor plan, grow, protect and transfer his wealth through services such as Mortgage, Educational Target investment plans, Wills and Trust, STOCK Broking and Investment services