Expectation for TCF Resolution
To ensure that all outstanding TCF are resolved, the details of the TCF beneficiaries have been made available in the link on our website.
For ease of resolution, the beneficiaries have been categorized into three (3) groups namely:
- Employees/Beneficiaries with no RSA PIN
- Employees/Beneficiaries with RSA PIN outside the TCF PFA
- Employees/Beneficiaries with RSA PIN within the TCF PFA
- Employees/Beneficiaries with no RSA PIN: These are employees/beneficiaries who are yet to register with a PFA, these employees are expected to:
- Approach any PFA of your choice to open a Retirement Savings Account.
- Provide a copy of their welcome letter upon registration to the TCF PFA.
- Provide a copy of your employment letter to the TCF PFA.
In addition, a copy of the welcome letter should be made available to the employer as this will ensure subsequent contributions are remitted directly to the PFA.
- Employees with RSA PIN outside the TCF PFA: These are employees/beneficiaries with Retirement Savings Account (RSA) PINs with other PFAs aside from the TCF PFA. These employees/beneficiaries are expected to:
- Provide a copy of your welcome letter (obtained from the PFA)
- Provide a copy of your employment letter.
- Employees with RSA PIN within the TCF PFA: These are employees/beneficiaries with Retirement Savings Account (RSA) PINs within the TCF PFA. These employees/beneficiaries are expected to:
- Provide the valid PIN for confirmation.
- Role of Employers of TCF beneficiaries:
- Encourage the employees to register for a Retirement Savings Account with the PFA of their choice where employees are unregistered.
- Ensure the registered employee provides a copy of his/her welcome letter to the TCF PFA to facilitate the transfer of the contributions into their RSA.
- Encourage the employees to undertake data recapture (for those registered before the takeoff of ECRS).