Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,205,843 members, 7,993,924 topics. Date: Monday, 04 November 2024 at 09:57 PM

My Dad Pension Is It Worth It - Jobs/Vacancies - Nairaland

Nairaland Forum / Nairaland / General / Jobs/Vacancies / My Dad Pension Is It Worth It (17144 Views)

Is It Worth It? Is This Advisable ? / Is It Worth It? Leaving 50k Job In Ibadan For 150k Job In Lagos. / 331,003 Job Losers Withdraw ₦116.87 Billion From Pension Accounts (2) (3) (4)

(1) (2) (3) (4) (Reply) (Go Down)

My Dad Pension Is It Worth It by Ninobraw(m): 5:29pm On Jan 16, 2022
I lost my dad about 8 months ago. He retired from service 2014 and has been paid his gratuity, and was receiving his pension before his death.
What entitlements is he due now after death for the next of kin to pursue, and what process would you advise to achieve it?

8 Likes

Re: My Dad Pension Is It Worth It by Bchop(m): 6:11pm On Jan 16, 2022
Just go to his pension administrator u will b told what to do,,,,

31 Likes 3 Shares

Re: My Dad Pension Is It Worth It by Fakbrown: 7:56pm On Jan 16, 2022
Oga your dad has collected gratuity, if he was in active service you could have requested for death benefit, but now you might not get anything again even the pension, I don't work but I think that is how the system works

22 Likes

Re: My Dad Pension Is It Worth It by wiseone28: 8:13pm On Jan 16, 2022
Ninobraw:
I lost my dad about 8 months ago. He retired from service 2014 and has been paid his gratuity, and was receiving his pension before his death.
What entitlements is he due now after death for the next of kin to pursue, and what process would you advise to achieve it?
Lol everything has ended. Except if he didn't collect his pension up to 5 years since retirement.

Just wish him farewell cheesy

21 Likes 1 Share

Re: My Dad Pension Is It Worth It by Mkelv0106(m): 8:18pm On Jan 16, 2022
If it was gratuity, you'd have been entitled to collect it, but I think his pension dies with him, there's nothing for you to fight for. I could be wrong tho

24 Likes 4 Shares

Re: My Dad Pension Is It Worth It by Asquare84(m): 9:45pm On Jan 16, 2022
Ninobraw:
I lost my dad about 8 months ago. He retired from service 2014 and has been paid his gratuity, and was receiving his pension before his death.
What entitlements is he due now after death for the next of kin to pursue, and what process would you advise to achieve it?

If your dad fall in to contributry pension then all outstanding balance in his RSA account will be paid emblock to the next of kin.

42 Likes 4 Shares

Re: My Dad Pension Is It Worth It by Emperoo: 10:12pm On Jan 16, 2022
Asquare84:


If your dad fall in to contributry pension then all outstanding balance in his RSA account will be paid emblock to the next of kin.

Exactly, if its contributory pension the remaining amount goes to the next of kin..

10 Likes 1 Share

Re: My Dad Pension Is It Worth It by Zegra: 10:44pm On Jan 16, 2022
Asquare84:


If your dad fall in to contributry pension then all outstanding balance in his RSA account will be paid emblock to the next of kin.

Yes but he need to get the service of a lawyer that'll assist with nessscary legal documents.
I think lawyers charge 10% of the amount involved.

4 Likes 1 Share

Re: My Dad Pension Is It Worth It by 4words: 11:03pm On Jan 16, 2022
Ninobraw:
I lost my dad about 8 months ago. He retired from service 2014 and has been paid his gratuity, and was receiving his pension before his death.
What entitlements is he due now after death for the next of kin to pursue, and what process would you advise to achieve it?

Please don't let those ignorant fellas above mislead you.

First there are some questions you need to answer so as to get the right answers.

1. Which pension fund administrator manages his pension?

2. Is he on annuity plan or programme withdrawal

If Annuity, 2014 to 2021 is less than 10years guarantee period so you still have a sum of accumulated 5years to collect.

If programmed withdrawal, better for you because he might have a large sum sitting in his account.

Please answer the 2 above question so I can help proffer better solution. Thanks

46 Likes 3 Shares

Re: My Dad Pension Is It Worth It by 4words: 11:05pm On Jan 16, 2022
Asquare84:


If your dad fall in to contributry pension then all outstanding balance in his RSA account will be paid emblock to the next of kin.

Wrong information, since the father has retired, and monthly pension already being paid to him, the money is no longer in his RSA account, it has either been moved to annuity or programme withdrawal.



Nbotee:


There is nothing he will do at the PFA without the LOA.. Thats the most important document


They must first get a Letter of Administration. It is the first requirement anyone will request becos that is what recognises them as legal custodians of the deceased entitlements. During processing of the LOA dey must provide proof of the beneficiary's death(Death Certificate, burial programme or poster) and even bring 2 people who will attest and stand as guarantors. They will also need his PFA and other entitlement details (bank accounts they can't access, investment portfolios etc). It is the court that will issue bank statement requests to those places requesting for the balances and entitlements on behalf of the beneficiaries

Again, the fund is either in annuity or program withdrawal.
At the inception of the policy into program withdrawal or annuity, the man would have filled out who his beneficiary would be. And in that sense, that becomes a "will". The beneficiary does not need any letter of Administration from court or anywhere else to access the fund.
Some documents are obviously going to requested by the annuity company or PFA however, not LOA.

Where I think you've mistaken the information is that there is a different between someone who is yet to retire or access his RSA but died and someone who has already accessed his RSA and on monthly pension before dying.

15 Likes 1 Share

Re: My Dad Pension Is It Worth It by 4words: 11:10pm On Jan 16, 2022
Zegra:


Yes but he need to get the service of a lawyer that'll assist with nessscary legal documents.
I think lawyers charge 10% of the amount involved.

Wrong... the money is either in Annuity or program withdrawal and he doesn't need a lawyer to get the money as the two program has either beneficiary or next of kin attached to them respectively.

So all that is needed is for the beneficiary or next of kin to approach the annuity company or PFA

10 Likes 1 Share

Re: My Dad Pension Is It Worth It by wiseone28: 11:43pm On Jan 16, 2022
Mkelv0106:
If it was gratuity, you'd have been entitled to collect it, but I think his pension dies with him, there's nothing for you to fight for. I could be wrong tho
I don't think he is still entitle to anything..

My dad retired 2012 died 2014 he got his gratuity and was collecting his pension.

Since he has not collect his pension up to 5 years we are entitled to get the emblock pension.

They will now add from the month he died in 2014 to 2016 and give us as next of kin.

6 Likes

Re: My Dad Pension Is It Worth It by Equity15(m): 12:05am On Jan 17, 2022
Depends on how many years he lived after retirement. Things have changed sha. Really do not know

2 Likes 1 Share

Re: My Dad Pension Is It Worth It by Asquare84(m): 6:15am On Jan 17, 2022
Zegra:


Yes but he need to get the service of a lawyer that'll assist with nessscary legal documents.
I think lawyers charge 10% of the amount involved.

No need for any lawyer, let him go to his late dad pfa and filled all neccessary documents.

4 Likes

Re: My Dad Pension Is It Worth It by Mkelv0106(m): 8:42am On Jan 17, 2022
wiseone28:
I don't think he is still entitle to anything..

My dad retired 2012 died 2014 he got his gratuity and was collecting his pension.

Since he has not collect his pension up to 5 years we are entitled to get the emblock pension.

They will now add from the month he died in 2014 to 2016 and give us as next of kin.
Alright. There you go op, this brother couldn't have explained it any better.
Re: My Dad Pension Is It Worth It by VIKTO83(m): 9:42am On Jan 17, 2022
Ninobraw:
I lost my dad about 8 months ago. He retired from service 2014 and has been paid his gratuity, and was receiving his pension before his death.
What entitlements is he due now after death for the next of kin to pursue, and what process would you advise to achieve it?
Re: My Dad Pension Is It Worth It by techmo(m): 10:26am On Jan 17, 2022
You need to close your mouth firmly and continue choping his pension bank alert, till pension office ask for physical verification exercise


Don't alert his bank or employers or the pension stops

If you want to cash out simply use USSD code on his line for transfer or recharge card which you later sell

5 Likes

Re: My Dad Pension Is It Worth It by Nbotee(m): 11:12am On Jan 17, 2022
Zegra:


Yes but he need to get the service of a lawyer that'll assist with nessscary legal documents.
I think lawyers charge 10% of the amount involved.

He doesn't need d services of any lawyer. He should go to the probate department of his state High Court and apply for Letter of Administration

Brushstrokes20:

Pls advise me.... In almost same dilemma, difference is my late got her gratuity but didn't get a dime of her accrued pensions and she served for 35 years,...thanks

I processed my Dad's own 2 years ago here in Abuja. The first thing U need to get is an LOA(Letter of Administration). That is what empowers and recognises U as the legal Next of Kin. Go to the probate unit of ur State High Court and ask for their requirements

5 Likes

Re: My Dad Pension Is It Worth It by Nbotee(m): 11:13am On Jan 17, 2022
Asquare84:


No need for any lawyer, let him go to his late dad pfa and filled all neccessary documents.

There is nothing he will do at the PFA without the LOA.. Thats the most important document
4words:


Wrong... the money is either in Annuity or program withdrawal and he doesn't need a lawyer to get the money as the two program has either beneficiary or next of kin attached to them respectively.

So all that is needed is for the beneficiary or next of kin to approach the annuity company or PFA

They must first get a Letter of Administration. It is the first requirement anyone will request becos that is what recognises them as legal custodians of the deceased entitlements. During processing of the LOA dey must provide proof of the beneficiary's death(Death Certificate, burial programme or poster) and even bring 2 people who will attest and stand as guarantors. They will also need his PFA and other entitlement details (bank accounts they can't access, investment portfolios etc). It is the court that will issue bank statement requests to those places requesting for the balances and entitlements on behalf of the beneficiaries

1 Like

Re: My Dad Pension Is It Worth It by Nbotee(m): 11:18am On Jan 17, 2022
Ninobraw:
I lost my dad about 8 months ago. He retired from service 2014 and has been paid his gratuity, and was receiving his pension before his death.
What entitlements is he due now after death for the next of kin to pursue, and what process would you advise to achieve it?

First things first, U would need a letter of administration(LOA) whixh U can apply for at your state High Court secretariat. They will request U to com with his death certificate, valid ID cards for U and whoever else are coming as his next of Kin (These days they request National ID card), the name of his PFA (pension fund administrator) and his pension number. Jus visit the probate unit of the High Court to start the process, they will give u a list of requirements

4 Likes

Re: My Dad Pension Is It Worth It by graphicdesigns: 12:02pm On Jan 17, 2022
Try
Hit me up for the best graphic design, check out some my of works.
https://www.nairaland.com/6938128/graphic-designer-creates-cover-art
Re: My Dad Pension Is It Worth It by Zimmermann(m): 12:54pm On Jan 17, 2022
Consult a lawyer.
Re: My Dad Pension Is It Worth It by HereAtIt(m): 12:54pm On Jan 17, 2022
This corntree Sha

Anyways, check out my signature to claim $$ for free. Say not to brokeness. This is real and at no cost
Re: My Dad Pension Is It Worth It by akanbiaa(m): 12:55pm On Jan 17, 2022
He retired from Government or Private work ?

1 Like

Re: My Dad Pension Is It Worth It by TheABOMINATION: 12:55pm On Jan 17, 2022
You want to turn your late father to a ghost pensioner.

Just like how someone who still receive salary after their death is a ghost worker, likewise someone who still receive pension after their death is a ghost pensioner.

Let the living collect their pension and don't get in their way.

1 Like

Re: My Dad Pension Is It Worth It by Candidlady: 12:55pm On Jan 17, 2022
Just 8months


Make the man rotten first before you folks start to reason his pension...


If only you had your own source of income, chasing after your dads pension won't be something to worry bout.



Anyways consult a lawyer.....

2 Likes 2 Shares

Re: My Dad Pension Is It Worth It by Kingpele(m): 12:56pm On Jan 17, 2022
Ok sorry for your lose ,I think if he had received pension for five years, he has almost finished his pension, cos the purpose of the pension is to help old people out of service to be able to live out the rest of their lives in some sort of comfortable way till death, it wasn't met to scatter for the rest of his clan and tribe
Re: My Dad Pension Is It Worth It by jericco1(m): 12:56pm On Jan 17, 2022
Lol the ones wey dey alive never get their pension na your late father own you dey find.

I wish you the best.

1 Like 1 Share

Re: My Dad Pension Is It Worth It by money121(m): 12:57pm On Jan 17, 2022
Ok

(1) (2) (3) (4) (Reply)

I Just Got A Job After Going Through Trying Times / Apply For Coca-cola Company Job Recruitment (2 Positions) / What's The Hope For Ond Holders In Searching For A Job.

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 52
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.