ChemicalReaction:
Congrats, man!

Winter12:


We cleared all his contributory, this one is a new inflow

Thefarmer3:


Wow! But I thought they've paid you since march?

livewithpurpose:
I just checked again. Yes they've paid! Batch 90 too!!!!

livewithpurpose:


No that was reconciliation that was done by PENCOM.

Thefarmer3:


Okay. Please during reconciliation, did they deduct from your dad's RSA balance? I just checked mine now and I noticed a deduction narrated as: FGN CONTR REFUND. I think reconciliation has commenced on our RSA

yetunsbay:
Good exactly likely the case I once discussed. Have u been paid group life before now ?
And the enquiry now is that will they still be making any payment into d RSA after this deduction. Winter12 !

yetunsbay:
Good exactly likely the case I once discussed. Have u been paid group life before now ?
And the enquiry now is that will they still be making any payment into d RSA after this deduction. Winter12 !

Winter12:


His accrual will still be paid. My late dads own was paid into the rsa, remaining processing as usual

Thefarmer3:


Group life is entirely different, it is been handled by office of head of service of the federation. It's either they pay through insurance companies or they pay from the budget, last I heard they paid was in Dec 2020 when FG released 2.5B for group life backlogs but my family wasn't included for settlement, so we're looking forward to the next one.

It's entirely different from PENCOM death benefits

Yeah, they would still make payments into his RSA, they still owe his accrued rights cos he has been working for FG before 2004

yetunsbay:
Have you been paid group life before now ?
What were u just paid, is it accruals ?

Thefarmer3:


Okay. Please during reconciliation, did they deduct from your dad's RSA balance? I just checked mine now and I noticed a deduction narrated as: FGN CONTR REFUND. I think reconciliation has commenced on our RSA

livewithpurpose:


Yes, we've been paid group life before because he died in service. That one was paid by the insurance company.

It was the accrual that was paid now because our late dad worked with the federal government before 2004.

livewithpurpose:


Not really sure they did because the balance increased instead of reducing.

yetunsbay:
guess no over remittance of Govt share of contribution was paid made to dad after death then.

But wait oo like a case of Thefarmer3, is it that "overpayment" refund will be made first BEFORE crediting with accruals ?
I get such case.

Winter12 join put mouth

Thefarmer3:


Yes of course, overpayment refund(reconciliation) will be done before crediting with accruals. In fact I just learnt from my PFA that as soon as reconciliation is concluded, we can claim the balance in the RSA even before accruals are paid. And whenever accruals are paid then it can be claimed as "additional benefits"

yetunsbay:
Nice. Were u able to access RSA bal before this accruals was paid....I'm sure there are some amt post 2004 ?

Nevertheless, 91 still awaiting ooo jus like ur case.

yetunsbay:
that means currently you can file for the balance in RSA since ur reconciliation is done ? When then are we sure accruals gonna be remitted. What's ur batch ?

yetunsbay:
guess no over remittance of Govt share of contribution was paid made to dad after death then.

But wait oo like a case of Thefarmer3, is it that "overpayment" refund will be made first BEFORE crediting with accruals ?
I get such case.

Winter12 join put mouth

Thefarmer3:


Yes of course, overpayment refund(reconciliation) will be done before crediting with accruals. In fact I just learnt from my PFA that as soon as reconciliation is concluded, we can claim the balance in the RSA even before accruals are paid. And whenever accruals are paid then it can be claimed as "additional benefits"

Thefarmer3:


No I can't because they're not yet done with reconciliation, I learnt it's a process which usually takes a while. If you have the means of checking your RSA balance you must have noticed such in yours as well.

Batch 97

Winter12:


Reconciliation takes 6 weeks to 8 weeks

frioslegend02:

That means they spend 6 to 8 weeks on a batch?

Thefarmer3:


No I can't because they're not yet done with reconciliation, I learnt it's a process which usually takes a while. If you have the means of checking your RSA balance you must have noticed such in yours as well.

Batch 97

Winter12:


Nope. Reconciliation of the contributory. But for batches, they can pay 4 batches in a week

yetunsbay:
since they are done with deduction in ur acct I assume u can file for application except u prefer waiting for the rest to get a lumpsum

yetunsbay:
since reduction & refund of contribution overpayment already done recently while batch 91 is next for Accruals remittance guess application can be sought.

If there is still any team 91 who has been paid kindly say hi mk I no dull myself pls

Azwealth:
HOW PENSION MANAGERS ARE CHEATING NIGERIANS

Nigerians need to wake from their slumber. This is necessary in respect to the issue of pension managers who collect forms on behalf of workers with the promise of a better retirement.

These pension funds are usually deducted from the workers salary but usually hard to collect when it is needed or at the retirement age. These pension managers request for many documents and lay down difficult processes before releasing the money to the owners.

It is usually even worse when the worker is dead and his next of kin wants to collect the money. He has to go through tedious processes and peradventure he scales through, there is still one obstacle to stop him-"THE ADMINISTRATIVE DOCUMENT". This is usually issued by the court of law and may take a year to get or even more.

What's even worse? The so-called lawyers will demand for 25% of the money to be collected and some other court officials will request for bribe to process the document faster. Before you know it, you have spent more than you are expecting.

Take for example, a colleague of mine who has #245000 with one of these pension managers died recently. As expected, his next of kin decided to claim his entitlement but was faced with series of obstacles which stopped him.

The most painful aspect is that when this funds are deducted, there are usually no clauses but when it's time to get your money, these clauses are their to stop you. The government should please intervene in this matter because this is a means used by the rich to cheat the poor masses.

This is a wake-up call to all workers to ensure that their years of labour do not end in vain.