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Nairaland Forum / Nairaland / General / Career / Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas (8191 Views)
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Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Kollyman: 1:16pm On Oct 15, 2015 |
I have heard people complaining about the quality of service renders by their Pension Fund Administrators (PFAs) the truth is that the PFAs don't exist in isolation, they have rules, guidelines and the PRA 2004 & 2014(as amended ) guiding their modes of operations. I want to seize this opportunity to say that the guides stated above are not inhumane but the interpretations by various PFAs creates the bottle neck that makes clients (RSA holders) suffers. The truth is that most of the guidelines are available for the public consumptions but due to our attitudes to reading things we felt would not add an immediately value to our lives, we allow it slip through our hands. I can confidently tell you that "if your PFA knows that you know where to run to when they give bad service, they wouldn't try mess with you". I remember those days when we have some customers walk-in through our door, we quickly assign the best hand to attend to them. This is due to the fact that if we misbehave in anyway as an organisation, we would be in for a serious trouble. I have worked in various departments of one of the biggest PFAs in the country and I am privilledged to have access to some vital informations which could be useful to RSA holders. Please note: 1. This thread is not meant to promote/demote any PFA 2. It is not meant to market any PFA or insurance products 3. Any service/advise given on this thread is without any cost /fee 4. Do not disclose your pension information to anybody 5. Other pension gurus in the house are also free to contribute If your issues cannot be solved on this thread, I can likewise provide you with contact details of some top officials of some of the big PFAs in the country to enable you escalate to a higher authority within the organisation. Please feel free to ask any questions with regards to your pensions. |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Kollyman: 1:19pm On Oct 15, 2015 |
Even if you have any issue with update of your informations with your PFA, the documents required and others....... We can deal it hear. |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 1:39pm On Oct 15, 2015 |
Thanks this thread will surely help. Please i need a clarification on how this PFAs really work Cause my dad works with the NAF and they keep deducting some amount of money month and its totaling upto 1.3million lately. Now is it that he will be able to withdraw the.money after retirement or what. Cause they.keep on sending him the statement of the accout monthly and i dont seem.to get it. Thanks |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Seuncoded(f): 2:11pm On Oct 15, 2015 |
Ok |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Kollyman: 4:51pm On Oct 15, 2015 |
sammyomal: If i may ask, what do you mean by NAF? do you mean Nigeria Air force? If yes, the gornement has exempted the military from the contributory pension scheme in which they have been returned back to the old military pension scheme. As a result of that, the National Pension Contribution instructed the PFAs to refund the portion of the contribution that were deducted from their (Military personnel) salary back to them (employee portion). this is done in collaboration with the military pension board. They have started paying the military and DSS since 2012 and they are doing it in batches which a lot of people have been paid. If your dad has been paid his employee portion, he should ignore whatever message the PFA send to him as it is done due to record deficiency. But if he is yet to be paid, I would advise him to liaise with the payrole dept & the PFA since he is still in active service. As par the statement of account they send to him, please tell him to ignore it or tell the PFA to stop sending to him as the money shown in the RSA statement is not deducted from his salary. You can verify this by checking his pay slip. If you need further clarifications, don't hesitate to revert. |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 5:40pm On Oct 15, 2015 |
Thanks for the Reply..... Yea its the Nigerian Air force..... Though they filled a particular form some year back that they(sigma pensions) where going to transfer the funds back to the pension scheme of the force but since then nothing was heard again. And pertaining the deduction, it does not reflect on his salaries again. That money is alot of money you know and my dad isnt even concerned anymore but am still wondering whats gonna happen to it. |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Kollyman: 7:20pm On Oct 15, 2015 |
sammyomal: The truth is that rwcors keeping in thos part of the world is terrible. You would be amazed to hear that those remittances in your father's RSA were recently remitted and probably someone else's contributions. The truth is that PENCOM would someday call for mop-up of those funds across all PFAs. Has he been paid his employee contributions from the fund in the RSA? |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 9:06pm On Oct 15, 2015 |
Kollyman:Thats the issue, he hasnt been paid anything atall.... |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Kollyman: 12:29pm On Oct 16, 2015 |
sammyomal: I would advise him to write directly to National Pension Commission (PenCom) with his appointment letter attached, RSA statement of account or registration certificate, pay slip showing some of the deductions then and others documents felt necessary. He should copy the millitary pension board and probably his PFA too. Hopefully something would be done. But I need you to engage your dad first to ascertain that he has not been truely paid. You can get PenCom's address via their web page. www.pencom.gov.ng |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 5:05pm On Oct 16, 2015 |
Kollyman: thanks alot sir, will do just that |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 11:50am On Oct 18, 2015 |
Please, which of these pension managers are reliable? I just got a job and I've been thinking on which to go with... PAL pensions was at our office to market to us , i want to be with the right PFA..... Response needed ASAP, thanks |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Kollyman: 11:44am On Oct 19, 2015 |
goldendainty: Congratulations on your new job! All the PFAs are good. Before PenCom can issue licence to any PFA to operate, there are some fundamental requirements that must be fulfilled. The essence is to ensure the safety of clients funds and build public confidence. As par your pension contributions, don't panic, your funds are secure. However, where the difference comes in is the are of customer service. When I talk about customer service, I mean the following: 1. How effectively they have used technological breakthrough to make life easy for their clients. 2. Service location network. I.e how many service locations they have in the entire country, your state and where you are. This also includes how closer their service loction is to either your office or home as their are some things you might probably need to visit service location before they can be addressed. 3. Availability of a relationship manager. I.e someone you can talk to in urgent scenario. 4. The fund price. This tells you how excellently or otherwise the PFA is doing in investing the clients ' funds entrusted in their care. If the fund price is high, it means that the return on your contributions (ROI or interest) is likely to grow high in a while. 5. Quality of services dished to customers. PFAs are service based firm. the quality of service makes the big difference as they all sell the same products. This includes how long it takes to respond to your email, waiting time at service centres, the quality of staff employed to deal customers issues and many more. I believe these few points can help you make a good decision as to whom you entrust your future with. If need be for further clarifications or information, do not hesitate to revert. |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 11:58am On Oct 19, 2015 |
Kollyman:Thanks, this information is very helpful |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by HenriFayol(m): 1:01pm On Oct 19, 2015 |
Hi, I didn't resign from my previous employment, hope it won't be a problem when I want to get my pension in future? Though am on my second employment now, and I intend to use the same RSAaccount. |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Kollyman: 3:10pm On Oct 19, 2015 |
HenriFayol: Since you are already on another employment, it might not be a problem. However, it is good to tender resignation letter to an ex-employer since you were issued a letter of employment and the organisation made remittances into your pension account. Also, having a resignation letter could be a saving grace in the future peradventure there is contribution anomaly in your retirement savings account(RSA) and the organisation has seized to exist. Hope this info is helpful. If need for further clarifications, do not hesitate to revert. |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Kollyman: 12:41pm On Oct 20, 2015 |
Very soon, we would be talking about various modes of withdrawal from your pension account. Do you know that you can make withdrawal from your pension account before you retire or attain the age of 50years? Details coming soon. 2 Likes |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by ElDeeVee(m): 5:54pm On Oct 25, 2015 |
goldendainty: Congrats |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 6:08pm On Oct 25, 2015 |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by ElDeeVee(m): 6:13pm On Oct 25, 2015 |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 6:20pm On Oct 25, 2015 |
ElDeeVee: thanks for congratulating me, ...........................nd fr d celebration, do u drink kunu? ![]() |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by ElDeeVee(m): 6:43pm On Oct 25, 2015 |
goldendainty:Kunu kor zobo ni...Offer something nice jare |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 6:48pm On Oct 25, 2015 |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by ElDeeVee(m): 7:07pm On Oct 25, 2015 |
goldendainty: Chai...wetin I wan use coke do abi who coke don help ![]() Be good and offer something befitting |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 7:08pm On Oct 25, 2015 |
ElDeeVee:ngwanu say what u want ![]() |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by ElDeeVee(m): 7:12pm On Oct 25, 2015 |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 7:14pm On Oct 25, 2015 |
ElDeeVee:i already told u i av kunu and coke |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by ElDeeVee(m): 7:20pm On Oct 25, 2015 |
goldendainty: Lol ok bring the kunu |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 7:24pm On Oct 25, 2015 |
goldendainty: ElDeeVee: I just dey watch the two of you in 3D. This your flirting no be here. ![]() ![]() |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 7:24pm On Oct 25, 2015 |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 7:26pm On Oct 25, 2015 |
adeaks: ![]() ![]() are you not the adeaks someone mentioned yesterday,....contunu ![]() |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by ElDeeVee(m): 7:31pm On Oct 25, 2015 |
adeaks: Hahahahahaha this guy |
Re: Let's Talk Pensions! Accurate Solution To All Issues With Your Pfas by Nobody: 7:31pm On Oct 25, 2015 |
goldendainty: I didn't follow you. I came here to talk about pension only to see you two lovebirds talking about coke and kunu ![]() ![]() ![]() I am not d one. Nobody mentioned me yesterday..... I am unknown in this forum ![]() |
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