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Nairaland Forum / Nairaland / General / Investment / How Pension Managers Are Cheating Nigerians (85793 Views)
Pension Managers Please Come In. / The Absurd Ways Pension Managers Cheat Nigerians part2. / I Want To Withdraw From My Pension Fund Account! (2) (3) (4)
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Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 7:51pm On Dec 17, 2020 |
Thefarmer3:exactly brother. As much as the deceased was employed before 2004, definitely such civil/public servant already made some contributions prior to aforementioned year thereby entitled to Accrued rights Contributions is only being paid first in other to cushion financial constraints faced by dependants of the deceased. |
Re: How Pension Managers Are Cheating Nigerians by Thefarmer3: 8:54pm On Dec 17, 2020 |
yetunsbay: Oh I see... Thanks brother |
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 9:56pm On Dec 17, 2020 |
Thefarmer3:you welcome 1 Like |
Re: How Pension Managers Are Cheating Nigerians by livewithpurpose: 9:40pm On Dec 21, 2020 |
yetunsbay: Are you sure about this? Because my source in Stanbic said, once contributions are paid, you still can't access the funds because they'll need to do reconciliations then pay accrued rights before you can access the funds. |
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 12:05am On Dec 22, 2020 |
livewithpurpose:fr Pencom |
Re: How Pension Managers Are Cheating Nigerians by livewithpurpose: 6:30am On Dec 23, 2020 |
yetunsbay: Ok. Thank you |
Re: How Pension Managers Are Cheating Nigerians by playcharles(m): 7:12am On Dec 23, 2020 |
Sigma pension is among them from the point OP is trying to make |
Re: How Pension Managers Are Cheating Nigerians by ChemicalReaction(f): 11:55am On Dec 24, 2020 |
Thefarmer3:Hello.. What batch am I likely to fall under if my application was finalised in November, 2020? Again, the PALpension customer care told me that a certain amount would be remitted to Pencom. Is that supposed to be true? |
Re: How Pension Managers Are Cheating Nigerians by Thefarmer3: 12:50pm On Dec 24, 2020 |
ChemicalReaction: Hi, we can't be sure you've been placed in a batch o. You need to confirm if your application has reached PENCOM in Abuja, if it has they'll tell you your batch. PENCOM can be reached via 094603930. About a certain amount being remitted to PENCOM, I've not heard that before. I wasn't told 1 Like |
Re: How Pension Managers Are Cheating Nigerians by ChemicalReaction(f): 1:00pm On Dec 24, 2020 |
Thefarmer3:Okay. Thank you. |
Re: How Pension Managers Are Cheating Nigerians by Cutehector(m): 6:07am On Dec 25, 2020 |
Come, e be like say before I die, I go carry my lawyer go my PFA office make we sitdon reason this matter and sign agreement. |
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 8:41pm On Dec 28, 2020 |
I pray make dem pay our batch before lockdown |
Re: How Pension Managers Are Cheating Nigerians by frioslegend02: 11:29am On Dec 29, 2020 |
yetunsbay: Its the other way round pls. Accrued Rights:- 89 Death benefits/Contributions:- 85. |
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 12:20pm On Dec 29, 2020 |
frioslegend02:Thanks. Kindly educate on difference between both maybe my understanding of each is loopsided |
Re: How Pension Managers Are Cheating Nigerians by livewithpurpose: 11:16pm On Dec 29, 2020 |
frioslegend02: Are you serious? I'm batch 90. |
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 5:26am On Dec 30, 2020 |
livewithpurpose:call Pencom today & give feedback |
Re: How Pension Managers Are Cheating Nigerians by JustforMen: 6:08am On Dec 30, 2020 |
rofemiguwa: Check with your employer. If they deduct up to 14k monthly for pension then you monthly contribution should be at least 14k+14k=28k multiplied by the number of months you have worked. Your employer is supposed to contribute at least 50% of your monthly contribution while you contribute the other 50%. |
Re: How Pension Managers Are Cheating Nigerians by ifeanyija(m): 11:14am On Dec 30, 2020 |
yetunsbay:Account needs to be reconciled and accrued right paid 1 Like |
Re: How Pension Managers Are Cheating Nigerians by frioslegend02: 1:01pm On Jan 04, 2021 |
yetunsbay: From what I understand, the retirement savings account carries contributions made by the individual and the MDAs (8% contribution by the individual and another 8% by the employer monthly?). At death, the beneficiary is expected to get Em bloc the whole sum on the RSA. The amount entails; 1. Accrued rights, which are contributions before June 2004, the government usually make provision in her budget every year and are remitted to the RSA. 2. Contributions, I already explained these above. Monthly remittance by the RSA holder and his/her employer. Usually the standing balance on the RSA at death. 3. Death benefit. This is also known as the group life, which is 3 times the total annual emoluments of the deceased person and they are by law paid into the RSA. I stand to be corrected. 1 Like |
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 1:21pm On Jan 04, 2021 |
frioslegend02:Thank you |
Re: How Pension Managers Are Cheating Nigerians by livewithpurpose: 11:35am On Jan 05, 2021 |
frioslegend02: I believe this changed because we've been paid the group life insurance for my father who died in service. What we are waiting for now is the Accrued rights. |
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 6:20pm On Jan 05, 2021 |
livewithpurpose:Smiles. Group life insurance is entirely different from above explanations |
Re: How Pension Managers Are Cheating Nigerians by Thefarmer3: 8:39pm On Jan 05, 2021 |
yetunsbay: But look at what he said in No 3, he described Death benefits as Group life |
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 9:47pm On Jan 05, 2021 |
Thefarmer3:As far as I know Group life isn't death benefits |
Re: How Pension Managers Are Cheating Nigerians by Leezah(f): 9:52pm On Jan 05, 2021 |
frioslegend02:You are very knowledgeable about this. Please my Dad retired 2017 with a state government but he has not gotten anything, is there anything that can be done to fast track his benefits? Please help me house |
Re: How Pension Managers Are Cheating Nigerians by Leezah(f): 9:54pm On Jan 05, 2021 |
livewithpurpose:is this group life insurance applicable to State government retired staff? |
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 7:59am On Jan 06, 2021 |
Leezah:Group life is only meant for Govt employees who died in active service. It's an insurance cover |
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 8:00am On Jan 06, 2021 |
Leezah:talk with his PFA and follow up |
Re: How Pension Managers Are Cheating Nigerians by josh4me: 8:29am On Jan 06, 2021 |
I believe this is for those that worked under the Federal government. Please I need clarification concerning those that worked for the state government. How can we get the death benefits? My mum died since 2010 and we have processed all documents but still we haven't received her death benefits. or what am I missing? any advice or clarification? |
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 1:33pm On Jan 06, 2021 |
God helps |
Re: How Pension Managers Are Cheating Nigerians by ChemicalReaction(f): 12:16am On Jan 07, 2021 |
yetunsbay:By govt employees, do you mean both federal and state govts? |
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 12:21am On Jan 07, 2021 |
ChemicalReaction:Very sure and conversant with FG only. Can 9ja State Govt really Insure her employees. Uhmmmm |
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