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.

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

fullblast:
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

Joeadamxx:
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

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.

vanstanzy:


With this story, i am wasting no time in changing my pension managers to Stanbic IBTC pensions. At least i have an insider there and i can hold them. @op, thanks for the eye opener.

davide470:

Stanbic IBTC is good! One of the best PFA in Nigeria. Remembered when my dad retired then, he was paid 30% of his money after a few months... And the fraction payment started immediately the next month and always on the stipulated date. He was also getting interest on the remaining part monthly..

But..

He died a year and half ago, and my senior bro (next of kin) has been trying to get the remaining part..just that blo*dy Letter of Administration delay!

That's why Multinationals have decided to create their own PFA departments.

yoddy:


@op i beg to say you are wrong. I have a relative that retired november 2012 and by february 2012, the pension was coming in. During this period, i was exposed to the processes involved.

A lot of documentation was involved though but its just for verification. Bottom line is that half of your pension savings is given as a lump sum and the remaining is paid monthly in equal installments for an agreed amount of years. If one dies before the said number of years, the rest of the money is paid to the next of kin. If one outlives the number of years, the payment stops after the agreed number of years.

Alternatevely, the pension company transfers your contributions to an insurance company which does basically same thing above except that your monthly payment is slightly reduced [b][/b]and they keep paying you till you pass on.

The LETTER OF ADMINISTRATION is a legal thing and is usually required to absolve the payers of liabilities. A shortcut is to educate your loved ones to prepare a valid will stating all these things clearly.

yetseyi:
From the comments so far It seems the stress is when the retiree is dead nd next of kin needs 2 collect d admin letter.

My mum works with LASG nd is due 2 retire soon. ARM pensions. Pls what documents are needed to facilitate d payment. Is it teaching service of otherwise ?

Mike2580:

Pencom serves to regulate, monitor and melt out punitive measures to any of thw 24 PFA or 4 PFC's who errs... That's on paper, naija is f*cken bureaucratic. The re always coping other nations but forgot that the don't hv the same conscience with them. So stop talking crap & check out whats on ground b4 praising whats on paper

pantherapardus:
Today marks 6 years since my dad passed on to glory. He was a lecturer at a federal government institution. Till date, we still haven't got his gratuities. Someone should please help out by telling me the processes involved to get this money. Thanks!

Gentlebabs:
REQUIREMENTS TO PROCESS DEATH BENEFITS UNDER THE PRA 2014. Medical Certificate of Death/Cause of Death; Certificate of Registration of Death (if available); Police Report (if death is by accident); Letter of Administration or Will submitted to Probate; and Declaration of Wish/Evidence of Nomination of NOK, Means of identification of NOK (Drivers license, National ID and International Passport). However, if the letter of Administration took time, is it the fault of the PFA or PENCOM? If your Dad died under the new scheme, you are entitled to 3 years of his monthly salary as the insurance benefits, including asides the amount in the RSA and the ACCRUED RIGHTS which he qualify for; if he started working for government before you 2004.

TheMan3:


After submitting all the documents to ARM pension it took me another eight months of waiting befor I traveled to Abuja myself to submit the documents streight to pencom.

They paid the accrued right, but now five years after my dad passed on, I am still expecting the group life insurance.
My dad started working with federal government in 1981, and he was under the new scheme

Gentlebabs:
You need to write a letter to ARM Pension, copy PENCOM, and copy any of your lawyer friend also. The letter you will send to ARM pension has to be by DHL, so that it will be properly receipted for. Afterwards, you can do a reminder letter to PENCOM and copy ARM pension. I am sure they will listen to you from experience. Let me know if you need more clarifications.

TheMan3:


Thanks for the reply, pencom said they are not in charge of the group life, it's been handled by the office of the head of civil service of the federation. We have been waiting for them. They finally said that we would be paid by last December, but they are waiting for permission from ministry of finance.

As we speak now, all the widows of deceased civil servants waiting for the group life money since 2010, are coming to Abuja. We are planning a very big protest to draw attention to the situation.

It is not fair at all

Gentlebabs:
Section 8(1) says "Where an employee dies, his entitlement u ser the life insurance policy maintained under Section 4(5) of this Act shall be paid by an underwriter to the named beneficiary in line with Section (57) of the Insurance Act.

Babalakin:
When will this country ever get things right?..my dad ,a police officer passed away around June 2011,we have only accessed his RSA contribution while we are still expecting his accrued rights and group life assurance benefits.i completed d documentation around may last year with first guarantee pensions after which pencom placed us on batch 34.as at August last year when we received his outstanding contribution,pencom was paying batch 27.surprisingly,when I called customer care at pencom I was informed they were just processing batch 29 for d next payment.that means from August last year to date they have only paid 2 batches.one wonders how long it will take before it finally gets to batch 34..please I was thinking d accrued rights and group life will b paid simultaneously, do I need to go to d office of d head of civil service to process d group life?..I've been to d police head quater at Ikeja to make a complaint, they referred me to my dad's PFA and didn't mention anything about d office of d head of civil service. Thanks for ur kind replies

Gentlebabs:
Section 8(1) says "Where an employee dies, his entitlement u ser the life insurance policy maintained under Section 4(5) of this Act shall be paid by an underwriter to the named beneficiary in line with Section (57) of the Insurance Act.

Gentlebabs:
Sections 8(1 & 2) is the main reason they referred you to the PFA. The Civil Service has nothing to do about this. Go to your late Dad's PFA armed with these relevant Sections and tell them what the laws says. The money is the direct responsibility of your Dad's PFA, not Civil Service. These things have been clearly delegated with effective monitoring. I am not telling you what I heard, I an telling you what works.

nissparts:


Oga, please dont mislead people here. What has a PFA got to do with paying group life or accrued rights that this poster is referring to. The accrued can only be paid after PENCOM has processed and group life is paid by insurance companies.

TheMan3:


What they are saying is that in 2010 the government didn't pay premium on time that year, so the government is taking responsibility for the deaths that occurred during the time because of the no premium no cover policy.

nissparts:


Oga, please dont mislead people here. What has a PFA got to do with paying group life or accrued rights that this poster is referring to. The accrued can only be paid after PENCOM has processed and group life is paid by insurance companies.

Gentlebabs:
Section 8(1) says "Where an employee dies, his entitlement u ser the life insurance policy maintained under Section 4(5) of this Act shall be paid by an underwriter to the named beneficiary in line with Section (57) of the Insurance Act.

nissparts:
[/b]

Reading is not difficult.
Look at the very section you posted.
I am talking about group life payments.
They are made by insurance companies and not PFAs oga.
Do you have underwriters in PFAs.
SMH

nissparts:
[/b]

Reading is not difficult.
Look at the very section you posted.
I am talking about group life payments.
They are made by insurance companies and not PFAs oga.
Do you have underwriters in PFAs.
SMH

Babalakin:
Pls where can I locate d office of d head of val civil service?..maybe I should go lodge a formal complaint with respect to d group life..thanks

Gentlebabs:
Well, this is the final time I will respond to this particular question from you. For instance, you work with as a Teacher or Administrative officer with the Ministry of Defence, you are regarded as an MOD staff. Your employer, that is (MOD) are expected to maintain a Group Life insurance for you all which they maintain through the PFA, for which premium is paid by the same employer. Call PENCOM and ask questions. Their Facebook account is also very active. Add them, and they will respond to you accordingly.

yetseyi:


Mr gentlebabs not teaching.
She uses ARM retiring next year. Are there any documents or things to put in place before she.retires to avoid late payment?

TheARM peeps have.been sending alerts every month and statement of account every 3 months.