Retirement Saving Account (RSA) Reconciliation and Administration

A Retirement Savings Account (RSA) is a Defined Contribution Plan required under the Pensions Reform Act 2014. It can be opened by every employee in an organization with 3 staff or more. This training works you through the entire process of a retirement saving account, with no stones unturned.

Features/Outlines

• Mandatory: Every employer employing more than 5 employees is mandated by law to open RSA for all employees with a PFA.
• 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.
• 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/her pension.
• Strictly supervised and regulated by a regulator that has the power of granting licenses and enforcing compliance with PRA 2014.
• Quarterly Statement of Account.

Who Will it Benefit?

All Employees, Professionals, Employers of labor, Administrators, Directors, and Ceo’s.