What are the functions of a Pension Fund Administrator (PFA)

A Pension Fund Administrator (PFA) is charged with the responsibility of managing and investing the pension funds and assets. It is the responsibility of the PFA to;

  • Open a Retirement Savings Account (RSA) for all employees who choose it
  • Invest and manage pension funds and assets
  • Maintain books of account on all transactions relating to pension funds managed
  • Provide regular information on investment strategy
  • Market returns and other performance indicators to the RSA holders
  • Provide customer service support to RSA holders
  • Ensure that retirement benefits are paid to employees and be responsible for all calculations in relation to retirement benefits.