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PenCom: No PFAs’ Gifts To RSA Holders

PenCom: No PFAs’ Gifts To RSA Holders

The National Pension Commission has barred the Pension Funds Administrators from sending gifts to the Retirement Savings Account holders.

PenCom is taking this measure in its efforts to stop healthy competition in the industry.

It gave this order in a new directive to the PFAs, according to findings by our correspondent.

RSA Holders
RSA Holders

The PFAs often sent birthday gifts to workers nearing retirement to woo them to stay even till after retirement.

PenCom bans PFAs’ gifts to RSA holders

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