Eligibilty and Registration Criteria

Eligibility and Registration Criteria


The following persons not below 18 years of age with source of income shall be eligible for participation in Micro
Pension Plan under Section 2 (3) of the PRA 2014:
a. Self-employed persons that belong to a Trade, Profession, Cooperative or Business Association.
b. Self-employed persons with a business registration as a company, partnership or enterprise.
c. Employees operating in the informal sector who work with or without formal written Employment Contract.
d. Other self-employed individuals.


a. A prospective Micro Pension Contributor shall be required to open a Retirement Savings Account (RSA) by
completing a registration form with a PFA of his/her choice.
b. The PFA will assign the appropriate Nature of Business (NOB) codes for the prospective Micro Pension
Contributor as provided by the Commission.
c. Electronic registration should be made available by all PFAs.
d. PFAs shall electronically capture the applicant’s ten finger prints and must pass the AFIS quality
requirements specified in the Guidelines for the Registration of Contributors/Members issued by the
e. Where the quality of the ten finger prints does not meet the required AFIS specification due to physical
impairment, the PFA shall treat such prospective Micro Pension Contributor as physically/partially challenged
and shall register such in line with the Guidelines for Registration of Contributors/Members issued by the
f. The registration information shall be transmitted to the Commission electronically by the PFA to enable
PIN generation.
g. The PIN generated by the Commission shall be forwarded to the PFA immediately.
h. The PFA shall forward the PIN to the Micro Pension Contributor.
i. Registration shall also cover the “Customer Familiarity Index” (CFI) on Micro Pension Contributor.
j. Any of the following valid means of identification shall be provided at the point of registration:
 – National Identification Number
– Permanent Voters Card
– Driver’s License
– International Passport
k. Any of the following documentation shall be provided at the point of registration:
– Evidence of membership of a registered association, union or cooperative society
– Certificate of business registration
– Certificate of incorporation
– Letter of employment
– Bank Verification Number
– Other documentation as may be specified by the PFA.
– A Micro Pension Contributor may transfer his/her Retirement Savings Account from one PFA to another in
line with the Regulations for the Transfer of RSA issued by the Commission

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