i worked for some few years with a hotel in abuja before i lost the job in 2013. up till now i am still jobless. i went to stanbicibtc pension office in abuja to see if can collect the money which is just about N600,000 to start some business i was refused on the excuse that i resigned my job. when i had issues with my employer i was asked to resign to enable me collect my benefit or my appointment will be terminated without the benefit. i chose the first option. i want to use the money to start foodstuff business. i have been unemployed for almost three years with a wife and children to cater for.
i am appealing to nairalanders who know people in stanbicibtc pension office to assist me to get the money, i don't mine giving off some percentage of the money to who ever will assist. any other suggestion is welcomed.


please moderators! can i have this in front page for quick response.

The process is simple.
1. Go back to your employer, get a letter of service, stating your duration/period of employment and mode of exit.
2. Take the letter to your Pension Fund Administrator(PFA), you will be be issued a few forms to fill, usually your personal data, PIN and bank details, you may need to the bank for your account confirmation ( your PFA will advise you).
3. Your PFA may need to write your employer if there is/are remitted month(s), your PFA will wait for a reply from your employer if this is your case, this usually takes a little while but if this is not your case, you are good to go.
4. It is important to let you know that if you have attained retirement age, it 100% impossible to get the lumpsum of N600,000, you can only process 25% of it( you should have been told this i guess) but if you have attained retirement age, they have different plans, you can get your whole money as lumpsum or spread over some years( your PFA would explain better).
I wish you the best in your endeavours.

than you so much kunleolale. i have not attained retirement age. is there no way to get the lump sum before the retirement age? thank you for the advice.

I have a first hand experience of this because i also use Stanbic pension. The other poster is right. It is the law not just about the pension manager. The law just changed sometimes last year I think. Before, you can't get anything as long as you retired voluntarily , except your employer chose to convert it to termination instead of voluntary retirement. But now irrespective of the mode of termination as long as you're out of job for a specific period of time you can get only up to 25% until you reach retirement age . You can go back to them if it's being a while you spoke with them. Best of luck.

Greetings everyone, I have this piece of advice to give to anyone retiring from
Federal service or any private organisation who want to enjoy his or her lump sum
continously till death. there are two options when it comes to monthly income
payment to retirees. The first option is Programme Withdrawal run by PFAś and the
second options is ANNUITY for Life a plan run by a NAICOM (NATIONAL INSURANCE COMMISSION) APPROVED Insurance company
At the payment of the first 25 percent to the retirees by their PFAs,every retirees
has an option of either continuing with their PFAs and run a programm withdrwal
or select an Annuity for Life Plan with the remaining 75%

now let consider the differences between Programm withdrawal and Annuity for Life Plan

PROGRAM WITHDRAWAL IS A PRODUCT OF PFAs while ANNUITY for Life is a product of an accredited insurance company
PROGRAM WORKS FOR JUST ONLY 10YRS
The ten years is called Gurantee period
funny enough after the ten years if the retiree is still alive
no payment again beacause his or her money is already exhausted

In ANNUITY FOR LIFE, a Guranteed period of ten years is provided also, if the retirees die within this ten year guranteed period, his or beneficiaries get the balance of account, BUT NOTE THAT if the retirees is still alive after the ten years such retirees continue to collect the montly payment steadfastly till death (it is constitutional its in pension reform act of 2014).

PROGRAM WITHDRAWAL PAYS LOWER BUT ANNUITY PAYS HIGHER. FOR instance if my balance at retirement after collecting the 25% is 4,500,000
if i do a programm withdrwal, my PFA say IBTC will pay me monthly not less or higher than 37500. but if the same 4,500,000 is moved to an annuity plans i will get an additional value of up to 10k or 15k making my monthly payment to be higher and this is the same amount i will continue to receive even after my survival beyond the ten years guranteed period (NO REDUCTION OR NO STOPPAGE) beacuse its in agreement that we issue to retirees at the commencement of the annuity plan.

The process to moving from PROGRAMM WITHDRAWAL TO ANNUITY FOR LIFE is very simple and the retirees will be involve in all so that it will not seems as if he or she want to be duped there is no corner or room to hide anything.
if you have a parent you will like to enroll on this plans kindly call me on these nos; 07033679529, 08175907161
my name is DEJI and I work with CUSTODIAN LIFE ASSURANCE HEAD OFFICE.

CALL ME TODAY AND I PROMISE TO PUT YOU THROUGH. PLS AM NOT A SCAMMER OOOO I BEG IN THE NAME OF GOD ALMIGHTY
I DONT COLLECT OR REQUEST YOU TO BRING ANY MONEY JUST TO BE OF HELP AND ENLIGHTENMENT TO FEW PEOPLE WHO ARE YET TO BE AWARE OF THIS PENCOM AND NAICOM APPROVED PACKAGE. THANKS AND GOD BLESS YOU ALL

thank you deji for this information