Pension Calculator Nigeria (RSA)
See how much goes into your Retirement Savings Account every month and how large it could grow by retirement, based on the contributory pension scheme.
Results are estimates for planning. Confirm final figures with your accountant or the Nigeria Revenue Service (NRS). Everything runs in your browser and nothing you enter is stored by us.
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What This Pension Calculator Shows
- Your monthly 8% employee pension deduction
- Your employer's 10% monthly contribution
- The total going into your Retirement Savings Account (RSA) each month
- A projection of your RSA balance at retirement
- How much of that balance comes from investment growth
- A warning if contributions fall below the legal minimum
How Contributions Are Worked Out
Under the Pension Reform Act 2014, contributions are based on your monthly basic salary, housing allowance and transport allowance. The employee pays at least 8% and the employer at least 10%, so at least 18% goes into your RSA every month.
About the Projection
The calculator compounds your monthly contributions at the yearly return you enter. It assumes your pay and the return stay the same, so treat it as a guide. Your Pension Fund Administrator (PFA) reports your actual balance and returns.
Frequently Asked Questions
The minimum is 18% of your monthly basic, housing and transport allowances: 8% from the employee and 10% from the employer. Employers can choose to contribute more.
Yes. Employers with three or more employees must enrol them in the Contributory Pension Scheme and remit contributions to each employee's PFA.
Yes. The employee's pension contribution is a tax-deductible expense, so it reduces taxable income before PAYE is calculated.
Yes. You can add voluntary contributions to your RSA on top of the mandatory 8%, which can grow your retirement savings faster.
Your PFA sends statements and most PFAs let you check your balance online, by USSD or in their mobile app using your RSA PIN.
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