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The short answer
You get an RSA PIN by opening a Retirement Savings Account with a pension fund administrator (PFA) of your choice: you complete its registration form with your employment letter, a valid ID and your NIN, and the PFA issues a unique Personal Identification Number. Your employer then remits at least 18% of your monthly emoluments (10% employer, 8% employee) into that account within seven working days of paying salaries, according to PenCom's 2023 FAQ.
What the RSA PIN is
The Contributory Pension Scheme gives each worker a Retirement Savings Account (RSA). The PIN is that account's unique identifier. It stays with you when you change jobs, so you should only ever have one. Employers need it to remit; you need it to check your balance, update your details and eventually claim benefits. For how the whole system works, see how the RSA pension system works.
Who must have one
PenCom's FAQ on the Contributory Pension Scheme (2023 edition) says the scheme covers employees of private organisations with three or more staff, and employees of the federal government, the FCT, states and local governments. People working for organisations with fewer than three staff, and the self-employed, can join voluntarily through the Micro Pension Plan. Small employers should read whether a small employer must run pension.
Steps to open an RSA and get the PIN
- Choose a PFA. PenCom's FAQ says the employee approaches a PFA of their choice. Check the PFA is licensed: see how to check a PFA.
- Get the registration form from the PFA's office, its website or an agent.
- Attach the documents the FAQ lists: a letter of employment (police personnel use an attestation letter), a valid means of identification, and your NIMC enrolment slip showing your NIN.
- Submit the form to the PFA, in person or through its online channel if it has one.
- Receive your PIN. The PFA issues it once registration is processed. Keep the message or letter that carries it.
- Give the PIN and PFA name to your employer's HR or payroll team so remittances go to the right account.
What your employer must do
- Contribution
- At least 18% of monthly emoluments: 10% from the employer and 8% from the employee. The employer may pay all of it, provided the total is not below 18%.
- Deadline
- Deduct and remit within seven working days of paying salaries.
- If you have no RSA
- If an employee has not opened an RSA six months after starting, the employer asks a PFA to open a temporary (nominal) RSA for them.
- Late payment
- PenCom requires the overdue contributions plus a penalty of at least 2% of the unpaid amount, paid into employees' RSAs.
Worked example
Example only: if your monthly emoluments are ₦300,000, the minimum contribution is 18%, or ₦54,000 a month: ₦30,000 from your employer (10%) and ₦24,000 deducted from your pay (8%). If salaries are paid on 25 March, the remittance should reach your RSA within seven working days of that date.
The FAQ also lets you contribute more than 8% as long as your total contributions and other deductions do not exceed a third of your monthly emoluments. Rates in detail are in pension contributions in Nigeria.
Checking that money is arriving
- Compare your payslip deduction with the credit on your PFA statement each quarter.
- Ask your PFA how to receive statements by email or app if you do not already.
- If the employer deducts but the credit never appears, raise it with HR in writing, then complain to PenCom, which the FAQ says will act on the employer's name and address while keeping your identity confidential. See complaining to PenCom.
Why the PIN matters beyond retirement
An RSA is not only for old age. Under PenCom guidelines made under section 89(2) of the Pension Reform Act 2014, as FCMB Pensions explains, an RSA holder can apply up to 25% of the RSA balance as equity towards a residential mortgage, once the account holds at least 60 months of cumulative mandatory contributions and the holder is more than three years from retirement. Every month an employer fails to remit, or remits to the wrong PIN, pushes that date further away. That is a practical reason to give your employer the right PIN on day one and to check your statement.
Changing jobs
When you move employer, give the new HR team your existing PIN and PFA name. Do not open a second RSA. If a new employer's HR team offers to "register you" with its preferred PFA, explain that you already have an RSA; two registrations take time to untangle later.
Self-employed or in a tiny business
Under the Micro Pension Plan, you open an RSA with a PFA in the same way and contribute at your own pace. The FAQ places micro pension contributors in their own fund, Fund V. Ask the PFA what documents it needs, since you will not have an employment letter.
Where Pryme fits
If you are self-employed, a voluntary contribution is easier when the money is set aside first. Your Personal Assistant can prepare a monthly reminder or transfer for you to approve; see Personal Assistant.
Questions people ask
How do I get my RSA PIN?
Open a Retirement Savings Account with a licensed PFA of your choice by completing its form with your employment letter, ID and NIN. The PFA issues the PIN.
What documents do I need to open an RSA?
PenCom's FAQ lists a letter of employment (or police attestation letter), a valid ID and the NIMC slip showing your NIN.
Can my employer choose my PFA?
You choose the PFA. If you have not opened an RSA six months after starting, your employer asks a PFA to open a temporary one for you.
How much is pension deduction in Nigeria?
A minimum of 18% of monthly emoluments: 10% from the employer and 8% from the employee, per PenCom's FAQ.
Sources
- PenCom: Frequently asked questions on the Contributory Pension Scheme (2023 edition) · accessed Oct 2026
- FCMB Pensions: Equity contribution for residential mortgage · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.