Here are our FAQs that might help you.

A1. This Scheme is contributory (employer and employee), fully funded, privately managed, third party custody of the funds and assets, it is based on individual accounts (Retirement Savings Accounts).

It ensures that everyone who has worked for the Public or Private Sector receives his or her pension benefits as and when due.

A2. You are eligible to enroll under the Contributory Pension Scheme if you work for the Federal Government, Federal Capital Territory and Private Organization employing at least 3 people and states that has joined the scheme.


• Sound corporate governance

• Credible, experienced, diversified and balanced board of directors

• Strong, professional and dedicated Management Team and staff

• Strong investment skills, providing consistent superior returns.

• Excellent customer experience

• World class IT infrastructure and communication platforms

• Easily accessible


A4. This is a pension account maintained with a Pension Fund Administrator (PFA) into which monthly contributions of employer and employee are paid. The RSA is defined by a unique Personal Identification Number (PIN) issued by the National Pension Commission (PenCom).

An employee can move from one employer to another and from one PFA to another (when the transfer window opens) with the same PIN.

A5. A minimum of 18% of monthly basic salary, housing and transport allowances, with the employer contributing at least 10%.

A6. PenCom is the Institution established and empowered by the Federal Government of Nigeria to regulate and supervise all pension matters and pension operators in Nigeria as enshrined in the Pension Reform Act, 2014.

A7. A PFA is an operator licensed by the National Pension Commission to enroll employees under the Contributory Pension Scheme and manage their contributions with the aim of administering pension benefits.

The license also extends to management of Defined Benefit Scheme.

A8. A PFC is an operator licensed by PenCom to collect and also hold pension assets in custody on behalf of PFAs.

  1. You can improve the amount of your pension payout at retirement by ensuring prompt remittance of monthly contributions by your employer.
  2. By making voluntary contributions.

Follow the steps below to start making Voluntary Contributions into your RSA.

  • Choose an amount that is convenient for you to contribute, in addition to your Pension Contributions.
  • Download our Voluntary Contribution Instruction Form from our website or pick a copy at our nearest office. Complete the document and submit to your Employer to commence deductions.
  • You can also make use of our pension calculator which is available on our Mobile App to calculate your pension.

A10. For an organization funded by the National Pension Commission (PenCom), the Commission is responsible for remitting the pension contributions of Employees based on computation using the Nominal Roll.

Please contact the Accounts Department of your organization for inclusion of your RSA PIN and Name in the Nominal Roll, which it would submit to PenCom for remittance of your Pension Contributions.

A11. For an organization funded by Integrated Personnel and Payroll Information System (IPPIS), the Office of the Accountant General of the Federation is responsible for remittance of your Pension Contributions.

Kindly contact the Pension Desk Officer of your organization for submission of your IPPIS number; this would enable remittance of your Pension Contributions into your Retirement Savings Account.

A12. Organizations under this sector are self-funding.

Submit your Welcome Letter, which contains your Name and RSA PIN along with our remittance details to the HR/Personnel Manager of your organization.

A13. Download our procedure and format for pension remittance via This Link

You may chat with us on or contact us via or call us on: 08059580002, 08032752888 and 07080633004 for further information.

Yes! All you need to do at FCMB Pensions is to send a mail to providing the following;

Contact Name, Contact Email, Contact Number and Contact address to enable us update your record in our database.

For further information, we can be reached on 09038853009.

A15. Voluntary Contributions represents contributions which an RSA holder can contribute voluntarily into his or her Retirement Savings Account through an Employer.

Features include;  

• Voluntary Contributions like RSA contributions must come from an Employer.  

• Voluntary Contributions are tax-exempt; however, tax will be paid on the income made from investment.

• Voluntary Contributions helps to increase contributions in Retirement  Savings Account of an RSA holder thereby securing comfortable life after retirement as it helps to boost RSA balance.

• You can make 50 % withdrawal of your Voluntary Contributions once in two years. However, the return on investment would be taxed (not the principal) if withdrawal is made within 5 years from date of first contribution. 

• For Voluntary Contributions, you are at liberty to decide the amount and frequency of contributions monthly or quarterly.

• Voluntary Contributions attracts return on investment.

A16. To register with us, simply click ENROLL NOW OR download our

Retirement Savings Account Form Account Opening Form (RSA).

Fill and walk into our nearest office for submission, view our branch locations via

A17. No, not at all. Neither your Employer nor your PFA can access funds in your RSA. Funds can only be accessed by you at the appropriate time.

A18. We can be reached via the following communication channels;

• Call centre: 07080633004, 08059580002 and 08032752888

• Email:

• Chat:

A19. Unit price is a measure of the value of the fund in which your contributions is a part of. It represents the fund price as at the day your contributions is credited into your Retirement Savings Account.


A20. Unit is the quantity of your investment holdings in fund which if multiplied by the unit price at any particular point in time gives your investment value or current balance.

A21. RSA balance is the total contributions in your Retirement Savings Account including Return on Investment.

A22. Changing Employer does not affect your Pension Contributions in the Contributory Pension Scheme.

You would be required to make use of the same RSA PIN till you retire. Simply submit your RSA PIN and NAME to the Accounts Department of your organization download our Data Update Form from our website and submit to our nearest office for update of your Employer record in our Database.

A23. Follow the simple steps below to view your RSA details on our Mobile App;

• To download our Mobile App, please visit Google Play Store or Apple Store on your Android or iOS enabled device (Search with “FCMB PENSIONS”)

• Launch FCMB Pensions Mobile App

• Supply your RSA PIN(“PEN” in capital letters), Phone Number that you registered with and Access Code

• Click on Login

A24. The FCMB Pensions Mobile App allows you to access your pension account 24/7 in the comfort of your Home, Office or Anywhere. With the FCMB Pensions Mobile App, you can do the following;

• Check your RSA balance

• Calculate your pension using the Pension Calculator

• View branch locations nationwide

• View Frequently Asked Questions

• View information about us

• View your Account Officer’s details

• View your profile

• Lump Sum & Programmed Withdrawal/Annuity

• En bloc payment

• Temporary access to RSA (25 %) payment

• Death Benefits payment

• Voluntary Contributions payment

• Nigeria Social Insurance Trust Fund (NSITF) payment

A26. The scheme is very safe, the custody arrangement ensures separation of functions between PFAs that manage the assets and PFCs that keep them.

There is also strong supervision by the National Pension Commission.

A27. Yes, you can view your RSA details online 24/7, simply log on to supply your username and password to begin.

A28. Not at all, we send e-statements to our clients at absolutely no cost.


A29. Yes, a retiree receiving monthly pensions, who secures another employment after retirement can continue to contribute to his RSA. The contributions received will be credited to the retiree’s account as Voluntary Contributions and can be accessed at your convenience


A30. No. You are only allowed to access 25% of your RSA balance once. The remaining RSA balance will be accessed at the age of 50 years or at retirement (whichever comes later).

A31. For password reset on your online account, simply call us on 07080633004, 08059580002 or 08032752888 or chat with us via

You may send us an email via the email that you provided while registering your Retirement Savings Account with us.


All channels are available on Monday to Friday from 8:00am to 5:00pm.

A32. Yes, you can update your phone number, email address and residential address via our Client Portal.

• Kindly visit

• Supply your username and password on our Client Portal

• Click on sign in

• Click on Bio Data on the left part of the screen

• Click on update

• Go to new information section

• Enter the details that you wish to update in the New Information section- this could be phone number, email address or residential address along with residential state and Local Government Area.

• Click submit update

• After successfully updating your record, you would receive a notification “Data Updated Successfully” and an email will be sent immediately to your registered email notifying you of the record update carried out.

A33. We send e-mail notification on any remittance made into Retirement Savings Accounts as they occur and e-statement on quarterly basis to clients with registered email addresses. However, hardcopy RSA Statements are delivered to clients without registered email addresses.

It may be that your email address or contact address changed and you did not notify us. You would be required to contact us; this is to enable us update your record in our database.

A34. We send SMS notification on any remittance made into Retirement Savings Accounts as they occur.

It may be that your phone number changed and you did not notify us. You would be required to contact us; this is to enable us update your record in our database.


A35. A death certificate can be obtained from the hospital where the client died, in a situation where the deceased did not pass on in a hospital; the next of kin of the deceased would be required to obtain a death certificate from National Population Commission.

For more information, please visit

A36. A Letter of Administration can be obtained from Probate Registry of a High Court of Justice in the 36 states.

A37. Your pension contributions are savings out of your emoluments towards achieving a comfortable life at retirement. Your employer is required to contribute 10% of your Basic Salary, Housing and Transport allowance while you make 8% making it minimum monthly contributions of 18%.


A38. Not at all, pension contributions are remitted directly to the Pension Fund Custodian by an employer; as the funds are to be held on the instruction of the Pension Fund Administrator, before investment decision is carried out.

A39. For Retirement Savings Account, the regulation does not allow a contributor to withdraw funds from his or her RSA until he or she is out of service or attains the age of retirement.

A40. Pension contributions in the Contributory Pension Scheme are tax-exempt; however, tax will be paid on the income made from investment.

A41. An RSA holder is allowed to transfer his or her RSA from one pension fund administrator to make a transfer to us, kindly click here

A42. The National Pension Commission was established by the Federal Government and is charged with the responsibility of regulating and supervising activities in the Contributory Pension Scheme. The Federal Government also plays a role in timely remittances such as Accrued rights, Monthly contributions etc.

A43. The Pension Reform Act as amended in 2014 was passed into law by the National Assembly with the approval of the president of the Federal Republic of Nigeria. Hence, a change of government will not affect the law unless it is repealed and/or amended by the National Assembly through amendment procedures under the constitution of the Federal Republic of Nigeria.

A44. Yes, in accordance with the guidelines of the National Pension Commission. We charge administrative and management fees as stipulated by PenCom.

A45. Your RSA remains active for life, simply notify your current employer with your RSA PIN, Name and monthly remittance details after which your pension contributions would be sent to the Pension Fund Custodian by your current employer.


  1. Same Pension Fund Administrator
  2. Different Pension Fund Administrators






  1. Both are Funded
  2. One RSA is Funded

The National Pension Commission recognizes only the first Retirement Savings Account Personal Identification Number.

You would be required to write an official letter (submitted in hardcopy) to the National Pension Commission copied to your employer stating that you have multiple RSAs with name(s) of issuing PFAs to enable the Commission reconcile your RSA.

A47. The pension funds contributed to the NSITF prior to the commencement of the Contributory Pension Scheme, which has been under the management of Trustfund Pensions Limited, is currently being transferred to Retirement Savings Account of clients that are in this category.

Contributors in this category would be required to complete a copy of NSITF Contribution transfer application form, which is available on our website and our offices nationwide. Members in this category would be required to complete and submit the NSITF document at our nearest office or service centre for onward submission to the National Pension Commission for approval to move such monies into your Retirement Savings Account.


A48. Our offices and service centres are open from 9:00am to 4:00pm Monday to Friday.

A49. Our phone lines and live chat platform are available from 8:00am to 5:00pm Monday to Friday.