Contributions plus compounding
Your RSA grows from your 8%, your employer's 10%, and investment growth compounding year after year. The contributions are based on your basic, housing and transport allowances.
Because of compounding, starting age matters enormously — but remember that high inflation eats into the real value, so focus on whether your savings outpace rising prices.
Common questions
Under the Pension Reform Act, you contribute 8% and your employer 10% — 18% in total — of your basic, housing and transport allowances into your Retirement Savings Account (RSA).
Generally from age 50 if retired, or at your retirement age. This projects the balance at the retirement age you set (default 60).
A lot. Nigeria's high inflation erodes the real value of your savings, so a big nominal balance buys less than it looks. The return you pick is nominal.