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General

CardinalStone Pensions Limited is a licensed Pension Fund Administrator (PFA) regulated by the National Pension Commission (PenCom). We provide comprehensive pension administration and retirement planning solutions designed to help individuals and organisations build long-term financial security.
Our services include:

  • Retirement Savings Account (RSA) management for employees under the Contributory Pension Scheme.
  • Personal Pension Plan (PPP) for working class individuals who wish to augment their mandatory Pension contributions through additional voluntary contributions, self-employed individuals, business owners, artisans, freelancers, informal sector workers, Nigerians in the diaspora, and anyone looking to save voluntarily for retirement, including parents and guardians who wish to start pension savings for their children.
  • Approved Existing Scheme (AES) administration for organisations operating approved retirement benefit schemes.
  • Retirement benefits processing, ensuring seamless access to programmed withdrawals, retiree support, and other retirement benefit options.
  • Pension advisory services, providing individuals and employers with expert guidance on pension regulations, retirement planning, and compliance with PenCom requirements.
  • Employer support services, including employee onboarding, RSA registration, contribution administration, compliance guidance, and dedicated relationship management.

At CardinalStone Pensions, we combine regulatory expertise, technology, and exceptional customer service to help our clients plan confidently for retirement while ensuring their pension assets are professionally managed and protected.

Your pension savings with CardinalStone Pensions are safeguarded by a robust regulatory framework established under the Pension Reform Act and overseen by the National Pension Commission (PenCom).

As a licensed Pension Fund Administrator (PFA), CardinalStone Pensions manages your Retirement Savings Account (RSA) in line with strict investment guidelines issued by PenCom. Pension assets are held separately by licensed Pension Fund Custodians (PFCs), ensuring that they remain secure and are protected from the operational activities of the PFA.

Our investment strategy focuses on prudent risk management, diversification, and long-term value creation, with investments made only in asset classes approved by PenCom. This disciplined approach is designed to preserve capital while delivering sustainable returns over time.

At CardinalStone Pensions, we are committed to safeguarding your retirement savings through strong governance, regulatory compliance, professional fund management, and transparent reporting, giving you confidence that your pension is being managed with the highest standards of care and accountability

Contribution

For Employers:
Organisations that wish to remit pension contributions on behalf of their employees can do so through any PenCom-approved Pension Solution Service Provider (PSSP). This ensures seamless processing and remittance of statutory pension contributions to employees’ Retirement Savings Accounts (RSAs).

For Individuals (Personal Pension Plan – PPP):
Individuals who wish to make contributions into their Personal Pension Plan (PPP) account can pay directly into the designated contribution account below:

Account Name: UPCL/CardinalStone Pensions Fund V Contribution A/C
Account Number: 1030085982

If you require assistance with making a contribution or have any questions, please contact our Customer Experience Team, who will be happy to assist you.

Retirement Savings Account

A Retirement Savings Account (RSA) is a personal pension account opened with a licensed Pension Fund Administrator (PFA) to receive and manage your pension contributions under the Contributory Pension Scheme. Your RSA remains with you throughout your career, regardless of changes in employment, and is invested to help secure your financial future in retirement. 

You can access your Retirement Savings Account upon retirement, attainment of 50 years of age (subject to PenCom guidelines), or in other circumstances permitted under the Pension Reform Act, such as temporary loss of employment. All withdrawals are processed in accordance with the regulations issued by the National Pension Commission (PenCom).

Upon retirement, you can access your Retirement Savings Account (RSA) through Programmed Withdrawal or Retiree Life Annuity, subject to PenCom guidelines. CardinalStone Pensions will guide you through the retirement process to ensure your benefits are processed seamlessly and your retirement income is secured

Your Retirement Savings Account (RSA) remains with you throughout your working life, regardless of changes in employment or relocation. You are advised to notify CardinalStone Pensions of any changes to your employment status or contact details to ensure your records remain accurate and up to date.

You can monitor the performance of your Retirement Savings Account (RSA) through any of the following channels:

  • Log in to the CardinalStone Pensions self-service portal or mobile app to view your account balance, contributions, investment returns, and transaction history in real time.
  • Review your RSA statements, which are sent periodically.

Contact our Customer Experience Team via phone, email, or by visiting any of our branches for assistance.
Keep your contact details up to date to ensure you receive regular account updates and notifications.

We are committed to providing you with transparent, timely, and convenient access to your retirement savings information

Access to your Retirement Savings Account (RSA) before retirement is restricted under the Pension Reform Act to preserve your retirement savings. However, you may be eligible to access a portion of your RSA balance under specific circumstances approved by PenCom, such as:

  • Temporary loss of employment (subject to regulatory conditions and waiting period).
  • Access to a portion of your RSA balance for a residential mortgage, where eligible.
  • Permanent disability or ill health.
  • Terminal illness.

For guidance on your eligibility and the applicable requirements, please contact CardinalStone Pensions. Our team will be happy to assist you through the process.

Yes. You can make additional contributions to your retirement savings through the CardinalStone Personal Pension Plan (PPP). This allows you to build a larger retirement fund beyond your mandatory pension contributions.

You can contribute:

  • Directly by making payments into your PPP account; or
  • Through your employer, who can remit the contributions on your behalf.

PPP Contribution Account Details:

Account Name: CardinalStone Pensions Personal Pension Plan
Bank: [Insert Bank Name]
Account Number: [Insert Account Number]

Your PPP contributions are professionally invested alongside your retirement savings to help grow your pension assets over time, while remaining subject to the applicable provisions of the Pension Reform Act and PenCom guidelines.

For assistance with opening a PPP account or making contributions, please contact CardinalStone Pensions, and our team will be happy to guide you through the process. 

Under the Contributory Pension Scheme, pension contributions are made monthly by both the employer and the employee. The employer deducts the employee’s contribution from their salary, adds the employer’s contribution, and remits the total amount directly into the employee’s Retirement Savings Account (RSA) through a Pension Fund Custodian (PFC).

In line with the Pension Reform Act 2014, the minimum statutory contribution is 18% of the employee’s monthly emoluments, comprising:

  • 10% contributed by the employer
  • 8% contributed by the employee

Employers may choose to contribute more than the statutory minimum, provided the total contribution is not less than the prescribed 18%.

Once remitted, the contributions are credited to your RSA and invested in line with PenCom’s investment guidelines to help grow your retirement savings over time. You can monitor your contributions through the CardinalStone Pensions self-service portal, mobile app, or your periodic RSA statements

Opening a Retirement Savings Account (RSA) with CardinalStone Pensions is quick and easy.

You can:

  • Visit any CardinalStone Pensions branch nationwide.
  • Open your RSA online through our website or self-service portal.
  • Contact our Business Development or Customer Experience Team for guided assistance.

To complete your RSA registration, you will typically need:

  • A valid means of identification (National ID Card, International Passport, Driver’s Licence, or Voter’s Card).
  • Your National Identification Number (NIN).
  • A recent passport photograph.
  • Your Bank Verification Number (BVN).
  • Your employment details (if applicable).

Once your registration is completed and verified, a unique RSA PIN will be generated for you. If you already have an RSA with another Pension Fund Administrator (PFA), you can seamlessly transfer your account to CardinalStone Pensions through the Retirement Savings Account Transfer System (RTS) without changing your RSA PIN.

Our team is available to guide you through every step of the registration or transfer process and ensure a seamless onboarding experience

Voluntary Contribution

There is no minimum or maximum limit on the amount you can contribute voluntarily to your CardinalStone Personal Pension Plan (PPP). You can contribute as much and as often as your financial capacity allows.

Whether you choose to make one-time, monthly, quarterly, or annual contributions, every contribution is invested to help grow your retirement savings over the long term.

You can make contributions:

  • Directly into your CardinalStone PPP account; or
  • Through your employer, who can remit the contributions on your behalf.

For assistance with setting up your Personal Pension Plan or making voluntary contributions, please contact CardinalStone Pensions. Our team will be happy to guide you through the process.

Yes. Since Voluntary Contributions under the CardinalStone Personal Pension Plan (PPP) are entirely optional, you have the flexibility to:

  • Increase or reduce the amount you contribute.
    Change the frequency of your contributions (e.g., monthly, quarterly, or annually).
  • Suspend or stop your contributions at any time without affecting your existing Retirement Savings Account (RSA).
  • Your accumulated PPP contributions will remain invested and continue to earn returns in line with the performance of the selected fund and applicable PenCom guidelines.

If your contributions are made through your employer, simply notify your employer and CardinalStone Pensions of any changes you wish to make. Our team will be happy to assist you with updating your contribution instructions.

Yes. Voluntary Contributions made under the CardinalStone Personal Pension Plan (PPP) may qualify for tax benefits in accordance with the Pension Reform Act and applicable tax laws.

In addition to helping you build a larger retirement fund, your contributions may enjoy favourable tax treatment, subject to the provisions of the law and relevant guidelines issued by the National Pension Commission (PenCom) and the appropriate tax authorities.

For more information on the applicable tax rules and how they relate to your specific circumstances, please contact CardinalStone Pensions or consult your tax adviser. Our team will be happy to provide guidance.

Yes. If you are contributing through the CardinalStone Personal Pension Plan (PPP), you may access a portion of your contributions before retirement, subject to the provisions of the Pension Reform Act and PenCom guidelines.

For active contributors:

  • After making consecutive contributions for at least three (3) months, you become eligible to access the contingent portion of your PPP balance.
  • Only 50% of your PPP balance (the contingent portion) is available for withdrawal.
    Eligible withdrawals can be made once every two (2) months, provided you continue to make active contributions.
  • The remaining 50% (the retirement portion) is preserved to provide income at retirement in line with the objectives of the Personal Pension Plan.

For assistance with a withdrawal request or to confirm your eligibility, please contact CardinalStone Pensions. Our team will be happy to guide you through the process.

Personal Pension Plan

The Personal Pension Plan (PPP) is a flexible retirement savings plan introduced by the National Pension Commission (PenCom) under the Pension Reform Act to enable individuals to save towards a financially secure retirement.
 
The plan is ideal for:
  • Self-employed professionals.
  • Business owners and entrepreneurs.
  • Artisans, traders, and freelancers.
  • Employees in organisations with fewer than three staff.
  • Individuals who wish to make additional voluntary contributions to boost their retirement savings.
  • Retirees who are still earning an income and want to continue growing their retirement assets.
 
With the CardinalStone Personal Pension Plan, you can:
  • Contribute any amount at a frequency that suits you (daily, weekly, monthly, quarterly, or annually).
  • Make contributions directly or through your employer.
  • Grow your retirement savings through professional fund management.
  • Access the contingent portion (50%) of your contributions after making active contributions for at least three consecutive months, with eligible withdrawals permitted once every two months, while the remaining 50% is preserved for retirement.
 
The CardinalStone PPP offers a simple, flexible, and secure way to build long-term financial security, whether you are actively working, self-employed, or retired but still earning an income. It is designed to help you continue growing your pension assets and enjoy greater financial independence in retirement.
Personal Pension Plan (PPP)
  • Open to self-employed individuals, business owners, artisans, freelancers, retirees who are still earning an income, and anyone who wishes to save for retirement.
  • Contributions are voluntary and can be made at any amount and frequency that suits the contributor.
  • Contributions can be made directly by the contributor or through an employer.
  • Active contributors can access the contingent portion (50%) after making contributions for three consecutive months, with eligible withdrawals once every two months.
  • Offers flexibility for individuals with irregular or non-salaried income. Traditional Pension Plan (RSA under CPS)
  • Primarily for employees in organisations covered by the Pension Reform Act.
  • Contributions are mandatory for eligible employees and are deducted monthly from salaries.
  • Contributions are remitted by the employer on behalf of the employee.
  • Funds are generally preserved until retirement, except in circumstances permitted under the Pension Reform Act (e.g., temporary loss of employment, mortgage, etc.).
  • Designed primarily for individuals earning regular salaries.

Retirement / Withdrawal 

A Retiree Account is an account established for a Retirement Savings Account (RSA) holder who has retired and has commenced receiving retirement benefits under the Contributory Pension Scheme (CPS).
 
The account is used to:
  • Receive and manage retirement benefits through Programmed Withdrawal or Annuity, as applicable.
  • Keep track of retirement benefit payments and the remaining balance (where applicable).
  • Ensure retirees continue to receive their monthly pension in line with the approved retirement benefit option.
 
For retirees who continue to earn an income after retirement, CardinalStone Pensions also offers the Personal Pension Plan (PPP). This enables retirees to continue making voluntary contributions, grow their retirement assets, and build additional financial security while still receiving their retirement benefits.
 
Our team is available to provide guidance on managing your Retiree Account and exploring options to enhance your retirement income.

Multi-Fund

The Multi-Fund Structure is a framework introduced by the National Pension Commission (PenCom) that enables Pension Fund Administrators (PFAs) to invest contributors’ retirement savings based on their age, risk appetite, and retirement objectives.
 
The Multi-Fund Structure comprises the following funds:
  • Fund I – An optional fund for RSA contributors seeking higher long-term returns and who have a higher risk tolerance.
  • Fund II – The default fund for active RSA contributors 49 years and below who have not chosen another fund.
  • Fund III – The default fund for active RSA contributors 50 years and above, with a more conservative investment strategy focused on capital preservation.
  • Fund IV – Designed for retirees receiving benefits under the Programmed Withdrawal option, with investments focused on preserving capital while providing stable retirement income.
  • Fund VA (PPP Conservative Fund) – A conservative investment fund for Personal Pension Plan (PPP) contributors who prefer lower investment risk while preserving and steadily growing their retirement savings.
  • Fund VB (PPP Growth Fund) – A growth-oriented investment fund for Personal Pension Plan (PPP) contributors with a higher risk appetite and a longer investment horizon, aimed at achieving higher long-term returns.
  • Fund VI – A specialised fund called ethical funds for Clients who dont want their funds invested in interest yielding instruments under the Multi-Fund Structure.
  • Fund VII – A specialised fund introduced by PenCom to cater to Individuals who are in diaspora or working in Nigeria but earning in foreign currency.
Each fund has a distinct investment strategy and asset allocation designed to balance risk and return while safeguarding contributors’ retirement savings.
 
Contributors who are eligible may switch between funds in accordance with PenCom guidelines. At CardinalStone Pensions, our team is available to help you understand the features of each fund and select the option that best aligns with your retirement goals and risk profile.
Choosing the right pension fund depends on your age, investment goals, risk tolerance, and how long you have until retirement.
Yes you can

RSA Transfer

An RSA Transfer (Retirement Savings Account Transfer) is the process that allows a Retirement Savings Account (RSA) holder to move their pension account from one Pension Fund Administrator (PFA) to another without changing their RSA PIN or losing their pension savings.
 
The transfer is regulated by the National Pension Commission to promote competition among PFAs and give contributors the freedom to choose the administrator that best meets their needs.
 
Key points:
  • Your RSA PIN remains the same after the transfer.
  • Your pension balance is transferred from your current PFA to your new PFA.
  • Your employer does not need to open a new RSA for you.
  • The transfer does not affect your accrued pension rights or benefits.
  • Eligible RSA holders can transfer once every 12 months.
 
People typically transfer their RSA to:
  • Receive better customer service.
  • Access better digital platforms and account management tools.
  • Benefit from stronger investment performance.
  • Enjoy faster processing of requests and retirement benefits.
  • Work with a PFA that better aligns with their retirement planning needs.
In simple terms, an RSA Transfer gives you the freedom to choose the Pension Fund Administrator you trust to manage your retirement savings while keeping the same Retirement Savings Account.
To initiate an RSA Transfer to CardinalStone Pensions, follow these steps:
  • Complete your Data Recapture Exercise (DRE) if you have not already done so. Your biometric and personal records must be updated before a transfer can be processed.
  • Visit the CardinalStone Pensions RSA Transfer page or contact a CardinalStone Pensions representative to express your intention to transfer your RSA. You can begin the process online by completing the transfer form. RSA Transfer Form
Provide the required information, including:
  • RSA PIN
  • National Identification Number (NIN)
  • Current Pension Fund Administrator (PFA)
  • Valid means of identification
  • Updated personal details and contact information.
Submit your transfer request. CardinalStone Pensions will guide you through the remaining steps and submit the request to the National Pension Commission for validation and approval.
Receive confirmation. Once PenCom approves the request, your Retirement Savings Account and pension balance will be transferred to CardinalStone Pensions. Your RSA PIN remains the same, and your pension savings and benefits remain intact.
 
Before you begin, ensure that:
  • You have an active RSA with a licensed PFA.
  • Your Data Recapture Exercise has been completed.
  • Your personal details are consistent across your records.
  • You are eligible to transfer under PenCom’s RSA Transfer Window guidelines.
None

Self Service

You can access the self service portal through the Self-Service section on the company’s website. You’ll typically need:
  • Your RSA PIN or registered username.
  • Your password.
  • A One-Time Password (OTP), if required for verification.
If you’re a first-time user, you can usually:
  • Select Register or Activate Account.
  • Verify your identity using your RSA PIN and registered phone number or email address.
  • Create a password.
  • Log in to access your account.
Once logged in, you can typically:
  • View your RSA balance and transaction history.
  • Download account statements.
  • Update certain personal information.
  • Initiate eligible service requests.
  • Monitor the status of your requests.
If you forget your password, click on the “Forgot Password?” link on the login page. Follow the prompts to reset your password via email. 
Yes, you can change your username or email address in your account settings. Look for the option under “Profile” or “Account Information.” 
Log in to the portal and navigate to the “Pension Balance” section. Your current balance and contribution history will be displayed there. 
Statements are typically issued quarterly. You can view and download your statements anytime in the “Statements” section. 
If you notice an error, please contact our support team through the “Help” section of the portal, providing details of the issue for prompt resolution. 
You can use the “Retirement Calculator” tool available on the portal to estimate your future retirement income based on your current contributions. 
Yes, we take your security seriously. Our portal uses encryption and other security measures to protect your personal information. 
You can contact customer support through the “Contact Us” section of the portal. Options include live chat, email, or phone support during business hours. 
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