My girlfriend's dad passed on May 2012. Its about 18months now.
You can't believe the mum and 5children had it so rough in going through the rigorous exercise and I tell you, till this moment, it was just last 2weeks they were told from Abuja that a particular paper is needed. Pls someone needs to talk to ARM pensions cos e dey pain me sef as na them I dey use too.

@ yomielove it is a pity your mum retired for the past 2yrs without collecting a peny as her benefit up till now. I work in an issurance coy where we have ANUITY as an option to what they offer in PFA at retirement. No letter of administration required in case of pensioneer's death. I am here to use my position as an underwritter to help anyone with pension issues. My number 08036579282

@Yomleluv, I can advise U if ur claim is genuine. If your mother is a Federal Worker, it shouldn't take this long, otherwise d states are also trying to meet up with d new scheme, for which not all states accepted the new pension plan instantly in d first place. PENCOM opened Zonsl offices cos of people like ur Mum. I think their Lagos office is at 88a, Oduduwa Crescent, Ikeja, GRA. Tel: 08055998776. It is better late than never.

THREE indictments on ARM Pensions so far.

Hmmm.

*twiddles thumbs*

guy ure so rite. Sigma office in kad their service bad. Their staff re very rude xpecialy d female ones. D painful part is that most of them ar OND holdders bt lik 2 speak eng. Pass evrybody.

Much as pension scheme sounds so good, it's the business of some people who have absolute control over your own hard earned money. For Christ sake, why not use your money to build a rental apartment in a low cost area and have full control of your pension by yourselve. Have you ever asked yourselves where the mechanics and bricklayers collect thier pension from? These people collect thier pension from the houses they built when they where in active service. They are the landlords while the office workers are the tenants. Think about it.

Pls does anyone know where d ARM office is in Uyo, Akwa I. State?

Based on my knowledge, pension managers are good & pay beneficiaries as at when due for retirement, my mum was a federal ministry worker, she retired last year & she was paid this year.
Subsequently, she receives 35% of her (then)take home on monthly basis now...NLPC PFA
The issue about the demise of a beneficiary's next of kin having difficulties getting the entitlement is not limited to the pension managers alone, its the rudiment of our financial sector, even in the banks it happen, a letter of administration is very key.

Interestingly, these same f00ls will sit in their offices and talk about the corrupt government all day long.

Rejoice5000: Saving money 4 children children that thing tire me,how they are cutting my salary for this pension of a thing, one will be getting alert but to withdraw the money 4 where. till Rapture day.

my own contribution is, we should also make them sign an undertaken or any agreement we may call it from the court of law. And state categorically there that collection of the money by the owner or next of kin should not involve so so so so and so, and must not exceed 3 months.

And I use ARM PenSions. Will soon switch to IBTC like many of my colleagues.

Gentlebabs: @AZWealth, I carefully went through ur post and found d contents therein misleading. In a layman's language, the pension scheme has been privatized and retirees can always go to Pencom to to seek advice or redress as the case may be. It is not often the best when your claims are reportive and you are not a direct victim of the said deception. The government adoppted the contributory pension scheme, which started in Chile so as to alleviate the sufferings of her citizens/retirees. All complaints/ enquiries should be directed to Pencom. You can google their website, therein lies all you need to know about the new pension scheme. I humbly reque you stop misleading people on heresies. For your information, Pencom serves to regulate, monitor and melt out punitive measures to any of thw 24 PFA or 4 PFC's who errs...

Are you aware that Pecom must pay 3times annual pay ǿſ d deceased FGN staff †φ d NOK by 2weeks? ...Ordinary sweet talk very similar †φ yours.I am a full proof victim, it took four angonizing years †φ get d full death benefit as d next ǿſ kin. Before 2004, it takes about 3months †φ effect payement ǿſ death benefits tφ d family ǿſ an FG staff, ǿſ this I am very sure . After d commencement ǿſ d pensions act, d capitalists n more corrupt took over and we are still reaping d dividends. These wicked hurdles set by Pencom n d PFAs make it seem as if being BEREAVED is a crime. It was a really horrible experience for me n siblings. Thank GOD, d storm is over

Na wao! I think its usually very difficult when the person dies intestate (without a written will). This should be a wake up call to all young and old.

This ARM people sha ...dem don chop bad name o! I hate anything to do with insurance as they're all same ...thieves!

xynerise: Kindly mention the name of the organisation pls

Y r u so concern abt d name of the organosation?this is a general problem evry 1 is aware of. Y did d Nigerian army ,DSS etc left d pension schem? Dn't u knw abt d police pnsion scam? D gov't should pls scrap dat schem joor!

Who Said letter of administration is not required? Bros no repeat dat word again o, as am talking 2 u now. My late father is a retired police Officer. His next of kin is our uncle his junior broda. Dis brought so much misunderstand and confusion to d extend d broda of my late fada wan to inherit everything and wanted to leave us behind. So we go to one Area customary court in delta. And d president of d court granted it for Us. We spend also almost 50k. To get dat letter of administration. And to be God be d Glory. D bank my late fada operate wit. Paid us d remaining balance left in d account 3days ago after summiting d LOA. three months. Now my problem na d pension Waka. D people re asking for 2many documents. D Pfa. Is premium pension limited. Abeg make una enlight me abt dis people. Hope there way PURE SHA?

Yababoy,

Agreed that the Pension Act as it is now is better than what it was before. But the thread Captain made a valid argument as I have colleagues going through the same experience with IBTC. When we were leaving our last employment, we were assured our 25% withdrawal will be ready within 2 months, 3 months down the line, it is only story. I am really afraid as I have a lot of money I cannot mention here in their coffers

If you or a family member is having issues with his/her pension administrator please visit any office of public complaints commission in nigeria. Their service is free of charge. You can visit them online here www.publiccomplaints-ng.org

Hmmm.... Na wa oh!
Our own mum na IBTC she dey use, and dee way they do their tins seem organised ℓ̊ just pray say dat it won't change wen she retires, ♍γ̲̣̣̥ question is dat is it by-force too have A̶̲̥̅ PFA because even ♍γ̲̣̣̥ sister that is A̶̲̥̅ contract staff have her money been deducted by this PFA and maa advice and lesson learnt frm this thread Run from double wahala because you b owner of dead body**no near ARN PFA** because their story ♌o good at all.

Who give a fvck about PFA, I am in control of my own pension by operating a separate savings account with no option for withdrawal no matter how hard things may be,also have another fixed for 18yrs for my daughter.
Be smart and dont work for those goons called PFA.

Then go and reside there. You talk as if they did not went through all this nonesense.

Sagamite:

That is what you get when you have fucktards running the country. It can't happen in Great Britain.

https://www.nairaland.com/1410261/tear-burn-nigerian-passport-once/11#17678247

Bro, it's compulsory to have a PFA unless you are self employed.

chucky234: Who give a fvck about PFA, I am in control of my own pension by operating a separate savings account with no option for withdrawal no matter how hard things may be,also have another fixed for 18yrs for my daughter.
Be smart and dont work for those goons called PFA.

Moses247: Who Said letter of administration is not required? Bros no repeat dat word again o, as am talking 2 u now. My late father is a retired police Officer. His next of kin is our uncle his junior broda. Dis brought so much misunderstand and confusion to d extend d broda of my late fada wan to inherit everything and wanted to leave us behind. So we go to one Area customary court in delta. And d president of d court granted it for Us. We spend also almost 50k. To get dat letter of administration. And to be God be d Glory. D bank my late fada operate wit. Paid us d remaining balance left in d account 3days ago after summiting d LOA. three months. Now my problem na d pension Waka. D people re asking for 2many documents. D Pfa. Is premium pension limited. Abeg make una enlight me abt dis people. Hope there way PURE SHA?

I will advise you, get all the necessary dociments. Submit yo ur pfa, make a photocopy and take to abuja yourself to pursue it. Go to pencom for the accrued rights and death benefits, then proceed to office of head of service for the Group life.

This is wat I did by Gods grace after almost three years (including time for letter of administration) they paid the accrued rights, still waiting for group life.

But this thing aught not to be like this. Why will a government that waste 1.6m daily on food, billons on entertainment be so insensitive

If you have any question let me know I will be glad to help.

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.

which government are you calling for intervention?. Is it the nigerian government or united state government?. At times some of you talks as if you don't know the kind of government you have in Nigeria.
My own advise to any company that is paying money to pension managers. Instead of paying those hard earned money to those Legal Professional 419's. why not use the money and form a co-operative in your company. in that case, you can choose executives among yourself who will be keeping record of all the money that comes in. Open a co-operative account(that contains atleast 10 signatures) with any of the Bank, in every end of the month let each workers have a specific amount that will be deducted from their salary and paid to the coperative accnt. This money will not be given to anybody until when the person resign or leave the work. Along the line the money can also be used for other investment like giving loans to any workers that have financial problem and a little interest will be collected base on the amount the person collect. When the money grows you could invest it to other things like buying lands and sharing it among the workers and so on. I think, Any company that does not have not successfuly formed such co-operative should not give their money to any Legal Pension 419's.
Start your investment yourself, before investing in other people's family(pension managers).

Please can i ask my office to stop payment into any pension fund manager? I have close to 400k with trustfund, but right from the beginning i don't trust this pension thing, i see it as an avenue to steal people money ( atleast in Nigeria where people at the helm abuse any privilege they have). I just want my office to stop deducting my money, i can save my money myself.

Just imagine that your office and yourself contribute money to an organisation and they use your money for business for 30 years with little or no interest remitted to you and when you want to collect the money, you have to bribe your way and some people will be draging the money you have toiled for with you.


The pension thing in Nigeria is loopsided, my fear has just been confirmed.

Gentlebabs: @Yomleluv, I can advise U if ur claim is genuine. If your mother is a Federal Worker, it shouldn't take this long, otherwise d states are also trying to meet up with d new scheme, for which not all states accepted the new pension plan instantly in d first place. PENCOM opened Zonsl offices cos of people like ur Mum. I think their Lagos office is at 88a, Oduduwa Crescent, Ikeja, GRA. Tel: 08055998776. It is better late than never.

its very true,got to know when she told we the children to raise the 100k ,she goes there herself,as a form of killing idleness,and she's a Lagos state retiree.

Gentlebabs: @AZWealth, I carefully went through ur post and found d contents therein misleading. In a layman's language, the pension scheme has been privatized and retirees can always go to Pencom to to seek advice or redress as the case may be. It is not often the best when your claims are reportive and you are not a direct victim of the said deception. The government adoppted the contributory pension scheme, which started in Chile so as to alleviate the sufferings of her citizens/retirees. All complaints/ enquiries should be directed to Pencom. You can google their website, therein lies all you need to know about the new pension scheme. I humbly reque you stop misleading people on heresies. For your information, Pencom serves to regulate, monitor and melt out punitive measures to any of thw 24 PFA or 4 PFC's who errs...

St*pid! Woe betide you for supporting disgusting evils.

The PFAs are rogues, they pay you half of ur gratuity and keep the other half, from which they will be paying 1/3% of ur salary as pension for just 15 yrs and later you go through hell to get the other half of ur gratuity back and that will be the end of you receiving any money from the govt through them.

Imagine someone getting 60k as salary and the same person start getting 19k as monthly pension?

That's absurd and you a paid a55 lick supporting it. Such a huge shame.

Its not the government that will save cuz they are all part of the system. Labour leaders are the cause of everything, they are all betrayals and thieves. They accepted all these conditions before pushing to the employees. After collecting bribes in huge amount, you will now see them coming out with muscles and worn out veins claiming they are in support of the masses. Even the money deducted from some salaries in the name of union dues are uncalled for and unjustifiable. Only to see them brandishing plate numbers like NLC 1, TUC 1, Comrade 2 etc. Now they want to go on solidarity strike with ASUU, you know how much that will fetch them? but you will think they are really doing it for the sake of Nigerian students. Thieves!

Sorry sir, there is nothing misleading about that post, while he is not entirely faulting the pension scheme, he is simply stating a fact corroborated by not less than 3 people already and that is how hard it is to access this money that was deducted with no qualms. Why do we have to go thru such stress to collect something that belongs to me? Why do a next of kin need some stupid letter of administration to claim someone's entitlement when that someone clearly states that this is my next of kin? So many questions that need answers. It is better we start naming these pfas so that when they come licking our bottom and begging to sign then on, we are better informed, see ARM is mentioned already 3 times! Is that not a trend? Thank God I didnt fall for them when they came trying to coerce me into registering with them...

Gentlebabs: @AZWealth, I carefully went through ur post and found d contents therein misleading. In a layman's language, the pension scheme has been privatized and retirees can always go to Pencom to to seek advice or redress as the case may be. It is not often the best when your claims are reportive and you are not a direct victim of the said deception. The government adoppted the contributory pension scheme, which started in Chile so as to alleviate the sufferings of her citizens/retirees. All complaints/ enquiries should be directed to Pencom. You can google their website, therein lies all you need to know about the new pension scheme. I humbly reque you stop misleading people on heresies. For your information, Pencom serves to regulate, monitor and melt out punitive measures to any of thw 24 PFA or 4 PFC's who errs...

Like I have posted earlier. I see this avenue as forum in which we can help our self get what we want. If anyone have a retired person that is not satisfy with the services of any PFA can opt for ANNUITY in an insurance company as it is been stated in the pencom reform act of 2004. Anyone can contact me for details 08036579282

Insurance policies are surer answers. Get a company that's been in d business for decades and still operating.
Pick a life savings/pension policy. So long as you DO NOT DEFAULT in paying when payment is due, don't let d policy lapse. It gives u a greater control over ur funds. Making claims are lot easier than the PFAs.

eluquenson: Based on my knowledge, pension managers are good & pay beneficiaries as at when due for retirement, my mum was a federal ministry worker, she retired last year & she was paid this year.
Subsequently, she receives 35% of her (then)take home on monthly basis now...NLPC PFA
The issue about the demise of a beneficiary's next of kin having difficulties getting the entitlement is not limited to the pension managers alone, its the rudiment of our financial sector, even in the banks it happen, a letter of administration is very key.

In a sane country, your mum would have been receiving her pension the very next month after retirement.

It is not rocket science for a firm to figure out when a pension policy holder is about to retire and start doing the processual work to ensure they get their entitlement asap. All they need to do especially for a federal worker is to look at the age and date of starting service on their pension application form.

Like I have posted earlier. I see this avenue as forum in which we can help our self get what we want. If anyone have a retired person that is not satisfy with the services of any PFA can opt for ANNUITY in an insurance company as it is been stated in the pencom reform act of 2004. Anyone can contact me for details 08036579282. I will be willing to render assistance in any form.