Accessing Death Benefits of RSA Holder
A Beneficiary named in a Will or appointed administrator by probate as shown in a Letter of Administration may access the RSA of a deceased contributor in line with the Pension Reform Act 2014 or as stipulated in the Regulatory guidelines on Administration of Retirement Benefits.
For En-bloc payment of the RSA balance which may also include Accumulated Contributions, Accrued Pension Benefits (if any) and Group Life Insurance will be paid in line with the PRA 2014.
Missing RSA Holder (Presumed Dead)
The employer and/or Next-of-Kin shall notify the PFA of the disappearance of the RSA holder after a minimum period of 12 months. (after the statutory period for declaring a person mission has elapsed). The National Pension Commission will set up a board of inquiry to ascertain that the RSA holder is indeed missing. Upon conclusion of investigations by the board of inquiry and the contributor is presumed dead, the beneficiary or any other person as may be directed by a court of competent jurisdiction will be entitled to the contributor’s RSA balance upon submission of a Will admitted to Probate or Letters of Administration.
The beneficiary shall provide a satisfactory means of identification which may be any of following:
- Valid International passport
- National Identity Card or
- Letter of confirmation of identity from his/her bank or Notary Public.
If satisfied with the identity of the beneficiary, the PFA shall demand items (1) and (2) and, if available, item (3) of the list below, which shall serve as sufficient evidence that the contributor is indeed missing:
- A Police Report confirming that the person has been missing with effect from the reported date, the circumstance of the disappearance and that the person has not been found after 12 months.
- Letter of confirmation of disappearance from the employer (if in active employment at the time of disappearance) also bearing the passport photograph of the missing person.
- Newspaper publication announcing the disappearance of the person.
- If satisfactory, the beneficiaries of the deceased client shall be required to provide the documents listed on the checklist for Missing Persons application.