Planning for retirement is a lifelong commitment, and maintaining accurate pension records is an essential part of that journey. To ensure that Retirement Savings Account (RSA) holders have complete, accurate, and up-to-date records, the National Pension Commission (PenCom) introduced the Data Recapture Exercise (DRE) for contributors who opened their RSAs before the Enhanced Contributor Registration System (ECRS) was introduced on 1 July 2019.
The Data Recapture Exercise enables eligible contributors to verify and update their biodata such as names, phone numbers, email addresses, dates of birth, employment records, and next-of-kin details. It also incorporates biometric capture and validation with the National Identity Management Commission (NIMC) database through the National Identification Number (NIN), providing a more secure and reliable identity verification process. The exercise also aligns with the Federal Government’s directive for all data-generating agencies to synchronize their records with the NIMC database using the NIN as the unique identifier.
Completing the DRE is more than a regulatory requirement; it is an important step towards safeguarding your retirement benefits and ensuring a smoother pension experience. Key benefits include:
