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  • Writer's pictureDamilola Agubata

Planning to Travel Abroad? Here's How to Japa Without Losing Your Pension


As a phenomenon that is fast gaining acceptance, questions are being asked and among them is: how do you travel abroad while maintaining your existing Retirement Savings Account (RSA) in Nigeria?


We’ll explain it in this article. You should note that the information here is based on the approved details on cross-border arrangements by the National Pension Commission (PenCom).


Here, we will cover the following one after the other:


  • What happens to your RSA when you travel abroad?

  • How to notify your PFA that you are travelling abroad

  • What happens to your RSA while you are abroad?

Oak Pensions creative graphics on how to travel abroad without losing your pension.
How to 'Japa' abroad without losing your pension in Nigeria. Credit: Oak Pensions

What happens to your RSA when you travel abroad?


The funds in your Retirement Savings Account (RSA) remain untouched as soon as you get on the plane and fly out of the country. As long as you’ve not withdrawn from your additional voluntary contributions, your funds will remain intact. All you have to do is request that your RSA be frozen until you can continue to make contributions to your account.


YOU MIGHT LIKE TO READ: How to Recover Your Oak Pensions PIN


How to notify your PFA that you are travelling abroad?


You’ll send an email to your PFA through your employer so that they can freeze your account upon your request until you are ready to continue to make contributions to your account.



What happens to your RSA while you are already abroad?


Your RSA can become active and that is if you have stated in your email that you intend to send voluntary contributions to your RSA.


You should note that after this you’ll be required to sign an undertaking to bear any expenses/loss that may arise from the remittance and conversion of the voluntary contributions denominated in foreign currency to Naira.


Above all


In all of these, having a Retirement Savings Account (RSA) is the first step if you intend to travel abroad and keep saving towards your retirement.


And if you are ready to take that step, it’s right here for you at Oak Pensions. Call the Marketing Manager at 09087448661 or send an email to info@oakpensions.com.





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