Foreign Currency Pension Contributions (Dollar Fund)

Foreign Currency Pension Contributions (Dollar Fund)

A Simple Guide for Everyone

There’s now a smarter, more flexible way to grow your pension, and it speaks the language of global stability: US Dollars (USD).
The National Pension Commission has introduced Foreign Currency Pension  Contributions, and this new option allows you to save and grow your retirement funds directly in dollars, whether you live in Nigeria or abroad. It replaces the old Cross Border Pensions arrangement and gives contributors more control, more security, and more long-term value.

Who Can Contribute in Foreign Currency?

This option is open to:

• Nigerians living and working abroad
• Nigerians in Nigeria who are paid in foreign currency
• Foreigners working in Nigeria who earn in foreign currency
• RSA holders relocating abroad who want to continue contributing in USD

Once your income is legitimate and can be remitted through regulated channels, you can contribute to your RSA in USD.

How It Works

Contributors fund their Retirement Savings Account in US Dollars through their:

• Domiciliary Account (if living in Nigeria) or
• Non-Resident Nigerian Account (NRNOA) (if abroad)

Your contributions go straight into the Foreign Currency Pension Fund (Dollar Fund) managed by your Pension Fund Administrator.

Once your Retirement Savings Account is credited, it stays in dollars, it is invested in dollar-denominated instruments, and you earn returns in dollars too. Your RSA statements will clearly show your contributions and growth in USD, and when you eventually retire, you can choose to receive your benefits in dollars as well.