Category: Pension

The Institution of Environmental Engineers (NIEE) has sought the collaboration of government and individuals to sanitise our environment and turn its waste to useful purpose.

Its National Chairman, Mr Sesan Odukoya, stated this at a briefing on the World Environmental Day in Ikeja, Lagos.

Noting this year’s theme ‘Only one earth’, he said we have only one world, which we must take care of or we suffer from the consequences of not doing so. The objective of the celebration, he explained, “is to ensure that this ‘Only One Earth’ is conducive for all to live in’’ .

Odukoya lamented: “Nigeria has its share of environmental challenges arising from air and land pollution, degradation and mismanagement. The impact of these on our lives is enormous and we can, in our little way, change the level of damage done to the environment. Our drainage system management has affected our roads and dealt great damage, the resultant effect of which is felt on lives. We have to look into the carbon footprint generated by industries, automobiles, and generators, or else we set ourselves up for a disaster.

“As a nation, let us participate actively in the World Environment Day in aligning ourselves with the tenets and actions necessary for the creation of an eco-friendly and green world conducive for us and our children and those yet unborn.’’

On the partnership, he said NIEE’s members have the technical knowhow, which it would avail the government “to promote clean environment. People can also leverage our experience to provide solution”.

He said environmental sanitation should not be left for the government. Rather, all hands must be on deck.

He noted the body’s past achievements in Lagos, Edo State where it played a major role at the Bypass to deflood the area and in the Southeast.

To win the war on environmental degradation, NIEE’s Vice Chairman, Antonio Ayodele called for policy direction while Odukoya asked for the strengthening of policy enforcement, saying a lot of policies were not being implemented.

Also at the event were NIEE’s past chairman, Yinusa Adisa; and Secretary, Mr. Afolabi Gege

 

OBUBA: I am Obuba from Abia State. My complaint is: non-payment of gratuity since August 2008. l retired on SGL l6 from the Federal Government and Abia State government.

PTAD: You are required to provide detailed bank statement from retirement till date.

ABDULKAREEM: My name is Abdulkareem. I am a federal pensioner from Lokoja, Kogi State. I have not received my December 2021 monthly pension. Kindly let me know if I am omitted from the bank schedule or it is just a delay. Thank you.

PTAD: You are required to provide detailed bank statement from retirement till date.

ADELOLA: I am Adelola, an Osun State pensioner that have federal share. I have not received my February 2022 monthly payment. My gratuity, too, has not been paid since 2000. Kindly help me.

PTAD: You are required to provide detailed bank statement from period of complaint till date

JIBRIN:  I am Jibrin from Kogi State. I am a state pensioner on federal share pay roll. Following my complaint to The Nation that I was not paid my December 2021 pension. I wish to inform the newspaper that I have been paid. But I am yet to be paid my gratuity since my retirement 2010. I am imploring the newspaper to request PTAD to do the needful on my gratuity. I wish the entire staff members of PTAD well. May God continue to guide and protect them in piloting the affairs of the organisation.

PTAD: Mr. Jibrin’s December 2021 pension has been paid. His gratuity has been computed, but we awaiting funds. He will be paid soon.

OKUNOLA: Dear Omobola, l and some former staff member of NITEL. I was verified since January 20I8 and we are yet to be paid. On April 5, this year, when you interviewed the Secretary of PTAD as was published in one of our best national daily newspaper, The Nation, she said we would be paid by June and this is December. Kindly save me and others from this ugly situation through your good offices.

PTAD: Kindly provide account details or verification slip.

MICHAEL: Dear Omobola, I am a federal pensioner with PTAD. Is it possible for me to be paid off once without waiting for monthly pension again? The reason is that I am contemplating relocating abroad. I wait for your kind reply.

PTAD: Dear Mr. Micheal, please note that pension cannot be paid off.

ADESIYAN: Good day, I am Adesiyan, one of federal pensioners in Osun State. Do you have any information about the non-payment of our pension allowance for January and the balance of our arrears for last year? Thanks, and God bless you.

PTAD: Kindly send your bank statement from the period of complaint

GEORGE: I am a pensioner with federal share. I have been logging into the website www.ptad.gov.ng for the “I AM ALIVE” pilot scheme but the computer keeps telling me that I am not selected. Please verify and let me know. PTAD might have sent the text in error to me. Meanwhile I am yet to see the reaction of my last enquiry in The Nation newspaper.

PTAD: Please note that only 50,000 pensioners were selected for the Pilot Phase.

BAYI: My name is Bayi. I retired in April 1999 from FBN Plc. They started paying me pension May 2011. Since then, my pension arrears haven’t been paid. Verification was done in 2017. We were told to wait for payment but nothing till date. I also haven’t received my arrears for 11 months but I saw the first one 7 months for minimum wage. Also a man Paul M, his pension from august 1997 to July 2018, have not been paid, also one Gyet Dangana Mwanti, pension arrears for 6 years not paid, one Yuwana Gokop not on payroll since February 2010 till date, Mohmmed Usman is not on payroll. While PTAD says it has paid N70 billion to pensioners, many pensioners and NOKs from Plateau State have not been settled. Comrade Bayi from Jos Plateau.

PTAD: You are required to provide detailed bank statement from period of complaint till date

 

 

Do you know that the Pension Reform Act (PRA), 2014 provides for the establishment of a Contributory Pension Scheme (CPS), which shall apply to the Public Service of the Federation, Federal Capital Territory, state and local governments, and the private sector?

Are you aware that any employee who falls into any of these categories is entitled to participate in the CPS and should know his or her rights and privileges under the CPS?

Here are 10 key points to note as an employee going by the PRA 2014 Act of the National Pension Commission (PenCom)

• A private sector employer who has more than three employees is mandated to participate in the CPS, irrespective of the nature of the employment of the employees such as permanent, temporary, causal or contract?
• Section 11 (1) of the PRA, 2014 requires the employee who does not have a Retirement Savings Account (PRA) to register and obtain a personal identification number (PIN) for his RSA with any Pension Fund Administrator (PFA) of his/her choice. The employee is to provide the PIN and his PFA details to his employer to commence remittance of his/her pension contributions. However, in a situation where the employee has a RSA, he/she is to provide the details of PIN and PFA to the employer.
• The employer is to deduct at source from the salary of the employee an amount comprising his/her pension contributions and remit same along with the employer portion not later than seven working days from the date salaries are paid to the PFA specified by the employee. The PRA, 2014 has provided the rate of pension contributions as a minimum of 10 percent employer portion and eight percent employee portion.

However, an employer may elect to bear the full responsibility of the 18 percent pension contributions. Further, the PRA, 2014 has also provided for a penalty of a minimum of 2 percent for employers who fails to remit the pension contributions for each month it remains outstanding.

• It is the responsibility of the employee to monitor the remittances of pension contributions into his RSA and he/she has the right to report the employer who fails to adhere to these provisions to his/her PFA or directly to the National Pension Commission (PenCom).

In instances where the employee is still in employment, he/she is allowed to send an anonymous letter to PenCom with full details of the employer, the employee’s identity would be held in strict confidence.

• Employees are also entitled to a Group Life Insurance (GLI) policy which is three times his/her annual emoluments to be provided by the employer. Therefore, employees are to make sure their employers have a GLI in place at all times. The PFA of the employee is required to provide the employee with statements of his RSA and good customer support.
• The Multi-Fund Structure offered by all PFAs also provides the employee who is below 50, the privilege to move from Fund II which is the default fund for active RSA holders below 50 into Fund I, which is also for RSA holders below 50 but with a higher risk appetite. In Fund I there is higher exposure to variable income instruments such as ordinary shares etc. An employee below 50 who wants to move to Fund I for optimising their returns by aligning their pension savings with their risk appetite would make a formal request to his/her PFA. The same scenario also applies to a contributor in Fund III who wants to move to Fund II.
• Section 13 of the PRA, 2014 also provides for the employee to transfer his RSA from one PFA to another subject to the guidelines issued by PenCom but not more than once in a year. However, it is important that the employee notes that his RSA remains the same irrespective of the transfer.
• Further, an employee is expected to make withdrawals from his RSA upon attaining the age of 50, However, there are exceptions where an RSA holder can make withdrawals before the age of 50, either on health grounds upon the advice of a suitable and qualified physician or medical board certifying that the employee is no longer physically or mentally capable of working or in cases of temporary job loss and the employee is yet to secure another employment four months after, he/she can withdraw not more than 25 percent of his RSA balance subject to the guidelines issued by PenCom.
• Upon retirement, the employee also has the right to choose the mode of accessing his/her retirement benefits from Programmed Withdrawal (PW) or Retiree Life Annuity (RLA). The PFAs are to provide information to the employee on the features of PW and RLA to enable him/her make an informed decision.
• The employee also needs to ensure that all his/her documentation is complete such as birth certificate, letter of appointment etc. This would help ensure that there are no delays in processing of his/her retirement benefits as PenCom remains committed to ensuring that retirement benefits are paid as and when due.

It is important that an employee understands his rights as it relates to pensions and take responsibility of ensuring that he/she has fulfilled all that is required such as providing updates to his/her PFA in cases of change of employment, personal details or contact information.

An employee should also ensure that his/her pension contributions have been remitted by the employer monthly and quickly inform PenCom when the employer fails to do so.

HUSSAINI: Good day, my name is Hussaini. I was a staff member of Revenue Mobilisation Allocation and Fiscal Commission. I retired on February 1, 2021.

I was verified last November 18 and was issued with Retirement Benefit Enrolment Slip. My first question is -When will I be paid my Lumpsum and start receiving my monthly pension?

Secondly, will I be paid monthly pension arrears effective February 2021 till date?

Thirdly, how long does it take before you transfer Accrued Pension Rights to PFA/RSA?

PENCOM: Please forward your RSA PIN, full name as well as the name of your Pension Fund Administrator (PFA) to enable the commission investigate further. Thank you.

ABDULKADIR: Good day, I give kudos to PenCom and The Nation. My problem is that I retired in June, last year, but since then, I have a health problem.

Also, I was unable to do the online registration because I was unable to get introduction letter and record of service from my former employer.

Please, is there any way I can do the registration without these two items and is it true that I will not be paid? My PFA is Trustfund Pension.

PENCOM: Please note that for your late father’s death benefits to be paid, you must submit some  documents to his pension fund administrator (PFA) for processing. If you have done this, please forward to the commission the following details: his RSA PIN, name, name of PFA as well as other vital information to enable the commission investigate further. Thank you.

OZURUONYE: I am Ozuruonye. Please, where is Stanbic IBTC Pensions in Owerri, Imo State? Thank you.

THE NATION: The newspaper will intervene. Do look out for the newspaper next week for responses from PenCom.

AJALA: Greetings to the Director-General of PenCom and The Nation newspaper. My name is Ajala, a paramilitary officer. I retired in June 2009. My Pension Fund Administrator is Sigma Pension. My complaint is on the non-payment of 2.5 per cent and areas. Thank you.

PENCOM: Please be informed that you are not eligible for the 2.5 per cent differential as the presidential approval took effect from July 2014 when the Pension Reform Act 2014 was amended for the increment in the rates of contributions. Thank you.

DANIEL: My name is Daniel and I am a next-of-kin. I received a payment of N1,591,877.64 in my UBA account, which we believe is RSA contribution with Sigma Pensions. We are waiting for the death/life assurance benefits of the late Mrs Grace. She served over 10 years and died on active service of Fed Poly, Idah in February 2015.

PENCOM: Please be informed that your late wife is not entitled to any other benefits (accrued rights) as our investigation revealed that she started working in 2005 after the implementation of the Contributory Pension Scheme (CPS). The accrued right is paid to employees who were employed prior to the commencement of the CPS in 2004. Thank you.

GAZAMA: Good day, my name is Gazama. I was retired since January 1, 2018 and I am still waiting for my benefit to be paid. I was called and signed since but up till now, nothing has been done. Please, look into my problem.

PENCOM: Please be informed that your retirement benefits was paid last December. Please contact your PFA for access.

FARID: Hello, my name is Farid. The president’s approval of outstanding pension said something about 2014, but my father died in 2013. Will his death benefit also be paid? And what is consolation and how long does it take? Thank you.

PENCOM: Please be advised that your late dad is not eligible for the outstanding pension arrears as this took effect from July 2014.

ANNONYMOUS: I retired in June 2016 from Federal Polytechnic, Bida. I was paid my benefits in July 2017 through my PFA, Premium Pension.

I, then, transferred to Leadway for Annuity. The Federal Government recently said it had released funds to pay the 2.5 per cent it is owing out of its 10 per cent. When and how will this money be paid? I am being owed 24 months.

PENCOM: Please be advised that if the amount payable is less than N100,000 it will be paid directly into your bank account.

However, for payments above N100,000 you are advised to purchase a second annuity from a Retiree Life Annuity (RLA) provider.

GIMBA: Good day, my complaint is about the non-release of my pension since October 2020 till date.

PENCOM: You are advised to  forward your details such as your Retirement Savings Account (RSA) Pin, Pension Fund Administrator (PFA), name as well as other valid information to enable us investigate further.

Please be advised that retirees of the Federal Government Tertiary-Funded Ministries, Departments and agencies are required to undergo a verification and enrolment  prior to retirement. If you are yet to undergo this process, kindly visit http://www.pencom.gov.ng to initiate the process and then proceed to your PFA for physical verification and enrolment.

In addition, please be informed that the Commission has paid the benefits of retirees who retired from January to December 2020.

JIBRIN:  I am Jibrin from Kogi State. I am a state pensioner on federal share pay roll. Following my complaint to The Nation that I was not paid my December 2021 pension, I wish to inform the newspaper that I have been paid. But I am yet to be paid my gratuity since my retirement in 2010. I am imploring the newspaper to request PTAD to do the needful on my gratuity. I wish the entire staff of PTAD well. May God continue to guide and protect them in piloting the affairs of the organisation.

OKUNOLA: Dear Omobola, some former staff members of the defunct NITEL and I were verified since January 20I8, but we are yet to be paid. On April 5, last year, when you interviewed the Secretary of PTAD, she said we would be paid by June. I let you know that we are yet to be paid. Kindly save me and others from this ugly situation through your good office.

MICHAEL: Dear Omobola, I am a federal pensioner with PTAD. Is it possible for me to be paid off once and for all without waiting for monthly pension again? The reason is that I am contemplating relocating abroad for good. I wait for your kind reply.

ADESIYAN: Good day, I am Adesiyan, one of federal pensioners in Osun State. Do you have any information about the non-payment of our pension allowances for January and the balance of our arrears for last year? Thanks and God bless you.

GEORGE: I am a pensioner with federal share. I have been logging into the website www.ptad.gov.ng for the “I AM ALIVE” pilot scheme, but the computer keeps telling me that I am not selected. Please verify and let me know. PTAD might have sent the text message to me in error. Meanwhile, I am yet to see the reaction of my last enquiry in The Nation.

BAYI: My name is Bayi, from Plateau State. I retired in April 1999 from FBN Plc. They started paying me pension in May 2011. Since then, my pension arrears haven’t been paid. Verification was done in 2017. And we were told to wait for payment, but nothing till date. I also haven’t received my arrears for 11 months, but I saw the first one  – seven months for minimum wage.

Also, a man Paul M, said his pension from August 1997 to July 2018, has not been paid; one Gyet Dangana Mwanti, pension arrears for six years has not paid. There is one Yuwana Gokop who is not on your payroll since February 2010 till date, Ditto Mohmmed Usman.

While PTAD says it has paid N70 billion to pensioners, many pensioners and NOKs from Plateau State have not been settled.

OBUBA: I am Obuba from Abia State. l retired on SGL l6 from the Federal Government and Abia State government. My complaint is on the non- payment of gratuity since August 2008

ABDULKAREEM: My name is Abdulkareem. I am a federal pensioner from Lokoja, Kogi State. I have not received my December 2021 monthly pension. Kindly let me know if I am omitted from the bank schedule or is it just a delay? Thanks you.

ADELOLA: I am Adelola, an Osun State pensioner that have federal share. I have not received my February 2022 monthly payment. My gratuity, too, has not been paid since 2000. Kindly help me.

MEDU: I am Medu. I retired in 2006 under the old NEPA/PHCN and by transition from NELMCO to PTAD. My monthly pension arrears of January and March 2015 were omitted. After my complaint, I did what I was told to do. I went to PTAD up to five times, but to my surprise, each time I went, they would tell me ‘no funds’ yet to pay. My complaints were published several times in The Nation. Please intervene. Help me to recover my arrears, including my gratuity and omission of three months arrears as contained in my verification with PAPD. I have also not been paid minimum wage arrears as contained in my complaints form submitted on July 5, 2021 to PTAD office.

THE NATION: The newspaper will intervene. Therefore Jibrin, Okunola, Michael, Adesiyan, George, Bayi, Obuba, Abdulkareem, Adelola and Medu should look out for the newspaper next week for responses from PTAD.

 

The drive by aeronautical managers to attract investors into the air travel space has been hampered by the COVID-19 pandemic. Nonetheless, operators are unveiling strategies expected to open new frontiers in the development of secondary airports, diversify revenue streams, among others, KELVIN OSA-OKUNBOR reports.

Nigeria is racing against time to cover lost grounds triggered by the COVID-19 pandemic.

Though clobbered, aviation authorities are unrelenting in  evolving initiatives, measures and strategies that would pull headwinds for the sector’s recovery.

Riding on input gathering from global partners, regulators, financial institutions and multilateral organisations, the need to fast-track regional instruments, including the Single Africa Air Transport  Market (SAATM), is becoming more compelling.

Experts say a multi-sector post-pandemic recovery strategy, which is dialogue-driven, could trigger more investments into the aviation value chain.

Such brainstorming for industry players, experts said, could serve as a robust window for prospective players to assess emerging opportunities.

Such opportunities border on the need to drive investment into the  sector via businesses namely airlines, aviation catery, spare parts manufacturing, repairs and maintenance centres, flight simulation centres and other value chains.

For decades, interventions on how to turn around the fortunes of civil aviation has come out of resulotions from conferences organised by either global, regional or multilateral organisations.

But, the Ministry of Aviation is poised to seek homegrown solutions to the travails of the sector.

To reverse this trend, the Federal Airports Authority of Nigeria (FAAN) is putting together  a  maiden National Aviation Conference next week in Abuja for stakeholders and investors to explore prospects in the air travel value chain.

The initiative was conceived two years ago, but could not fly due to the pandemic.

Describing the initiative as a continental power house expected to trigger post-COVID-19 recovery efforts, the FAAN’s Managing Director, Captain Rabiu Yadudu, said for the sector to achieve growth, there was the need for players to rethink ways of advancing a safe, secure and profitable air transportation.

According to the pilot, development in the global air transport space in the last two years calls for the recalibration of strategies by players,  whose primary duty include dissecting emerging  developments and proffering solutions geared towards the industry’s growth.

Captain Yadudu said: “Increasingly, the aviation industry needs  a platform where  stakeholders should explore to deliberate and understand how technology-driven innovations will change air travel in decades to come as well as discuss the future of the airport vis-à-vis innovations, safety and security, financing and leasing, sustainability, growth drivers, logistics and other value chain related activities.

“That is the whole idea of putting together a platform to attract local and international investors which will focus on assessing  investment opportunities in the aviation industry.

“Besides, the platform will offer indigenous industry stakeholders a voice to express their needs and educate others on their operations as well as build the indigenous intellectual capacity that is required to complement and effectively manage the infrastructural developments in the industry.”

Experts familiar with the development said the World Bank is showing more interest in airport infrastructure development in Nigeria, as it is pushing for multi-stakeholders partnership to drive the growth of the aviation sector.

To actualise this representatives of  international aviation organisations, the  International Civil Aviation Organisation (ICAO), International Air Transport Association (IATA), Afrcan Airlines Association (AFRAA), and African Civil Aviation Commission (AFCAC), will join airline operators and other players,  such as  the Chairman, Air Peace Limited, Chief Allen Onyema; Managing Director, TopBrass Airlines,Capt. Roland Iyayi; and President Air Transport Senior Staff Services Association of Nigeria (ATSSSAN), Illitrus Ahmadu, to share their perspectives on how to stimulate growth for the air industry.

To optimise new revenue streams, experts have called on aeronautical agencies to create platforms to discuss ways to develop the industry.

Reaffirming the Federal Government’s drive to use the sector as a catalyst for growth, Capt. Yadudu said: “We observe that in Nigeria, we don’t have any platform that is recurrent for stakeholders to sit down, share knowledge and take necessary steps to promote cooperation, collaboration and the general progress of the industry.

“It is like everyone is doing its own, we don’t sit down to collaborate and cooperate. It is when you cooperate that you have synergy.

“So, FAAN decided to  organise this national aviation conference in the interest of the aviation industry.’’

It is called FAAN National Aviation Conference (FNAC) because FAAN is funding it 100 per cent. We are doing it as a form of national service for the whole industry.

There will be presentations by the industry stakeholders on their key concerns.The major substance is to promote collaboration and cooperation towards the development of the industry.

It is a Nigerian event for aviation. Things we might discuss may not be outside Nigeria. So, we will look at ourselves and discuss issues as they affect us.

Experts will have much more at stake than foreign experts. So, that is why we are making it an aviation industry issue.

 

 

The National Pension Commission (PenCom) has released its First Quarter One 2022 Report, showing strong growth in pension fund assets and scheme memberships.

The report shows that the total value of Pension Fund Assets under the management of Pension Fund Administrators (PFAs) increased by N1.53 trillion yearly from N12.34 trillion recorded as of the end of Quarter One 2021 to N13.88 trillion as of the end of Quarter Two of 2022.

Quarterly, total pension assets rose by N46 billion from the N13.42 trillion recorded at the end of Quarter Four 2021 to N13.88 trillion at the end of Quarter One 2022.

The growth in pension fund assets was mainly due to contributions received and market valuation of Federal Government bonds and quoted equities.

According to the commission, pension fund assets were mainly invested in Federal Government Securities and quoted domestic ordinary shares.

The value of investments in quoted domestic ordinary shares increased by N28.95 billion to N944.26 billion. The asset class represented 6.80 per cent of total pension assets.

The increase in the value of investments in domestic quoted equities was primarily due to the appreciation of some stocks on the Nigerian Stock Pension Index, which gained 9.95 per cent.

Pension Fund Assets invested in Federal Government Securities decreased by 3.10 per cent to stand at N8.50 trillion. The decrease in the value of investments in FGN Securities was majorly due to matured investments in the asset class during the quarter.

 

ALTHOUGH it is believed that the informal sector consists of over 80 per cent of the country’s workforce, a large number of them do not have a pension plan.

Expectedly, those in the informal sector are in danger of falling into poverty at old age as they are unable to cater to their basic needs and have little or no hope for access to health care without an income after retirement.

Most of the elderly in the rural areas depend on their children to provide financial and physical care. Unfortunately, most of the younger generation migrate to urban areas for better opportunities and their ties to the elderly and villages are weakened.

As a result, the elderly are left behind with few resources. Therefore, the need to provide a pension plan that provides financial security for the informal workforce has become imperative.

To this end, the National Pension Commission (PenCom) has introduced the Micro Pension Plan (MPP) to cater to the informal sector, persons in organisations with fewer than three employees and the self-employed in line with the provisions Section 2 (3) of the Pension Reform Act (PRA), 2014.

PenCom Director-General, Mrs. Aisha Dahir-Umar, in an interview with The Nation, explained that the purpose of the MPP Scheme is to ensure that through savings during the working life of an MPP contributor, he or she is able to cater for his or her livelihood in old age.

She said the MPP is consistent with PenCom’s vision to expand the coverage of the industry to accommodate many Nigerians irrespective of their employment.

She stated that the MPP scheme provides an opportunity for persons who do not qualify for the mandatory Contributory Pension Scheme (CPS) such as artisans, lawyers, construction workers, the market seller, accountants, musicians, and bloggers, to put a pension plan in place for livelihood in old age.

To become an MPP contributor, she noted that it is required that you must be above 18 and has a legitimate source of income whether self-employed or an employee of an organisation with no fewer than three employees with or without a formal contract.

She said: “Having fulfilled these criteria, the next step is to visit any Pension Fund Administrator (PFA) of your choice to register and obtain and complete the Retirement Savings Account (RSA) form.

“A detailed list and addresses of the PFAs can be found on www.pencom.gov.ng. The PFA would provide information on the documentation required to carry out the registration. Upon completion of registration, a unique Personal Identification Number (PIN) would be issued to the registered contributor who can now commence contributions into the RSA account.

“Taking into consideration the nature of the informal sector as it relates to earnings which can be irregular and often unpredictable, MPP has provided for flexible contributions methods into the RSA of the contributor. Pension contributions can be made daily, weekly, monthly or as it is convenient for the MPP contributor but at least once a year.”

The PenCom DG continued: “Further, there is no minimum amount of contribution under the MPP Scheme because it is dependent on the contributor’s nature of business, financial capacity and the contributor’s pension aspiration. Making contributions into the account is also flexible. The MPP contributor can make cash deposits or electronic transfers through any payment platform or financial agent that is licensed and approved by the Central Bank of Nigeria (CBN).

“The MPP Scheme has also put in place a structure for withdrawal of funds recognising the nature of the informal sector. A contributor can access the balance in his RSA through Contingent Withdrawals to meet urgent financial needs and which is pegged at 40 per cent of his total contributions. This represents pension contributions and return on investment. The balance of the 60 per cent is reserve for retirement benefit which the MPP contributor will access as monthly pension upon retirement.

“However, it is pertinent to note that the MPP contributor can only start withdrawals from the contingent portion after three months of commencing of pension contributions. MPP contributors also have the option of converting or transferring the contingent portion to retirement benefit portion totally or partially upon retirement.”

OAMEN: Dear Sir, my name is DSP Oamen (rtd). I retired from The Nigeria Police on October 1, 2017. My Pension Fund Administrator (PFA) is NPF Pensions. Please be informed that my 2.5 per cent shortfall on pensions approved for federal retirees by Mr. President has not be credited into the RSA account by my PFA. There is no alert or anything to show that the 2.5 per cent has been credited into my RSA account.

PENCOM: Please liaise with your Pension Fund Administrator (PFA) for the remittance of the 2.5 per cent differential as the commission has remitted same to the PFA. Thank you.

UKEJE: My name is Ukeje, I retired from the Nigerian Customs Service in 2016. My PFA is Stanbic IBTC Pension. The Nation should help me push for my accrued benefit. I have received credit alert from Stanbic IBTC. I urge other pensioners to continue to patronise this paper. I also thank PenCom.

THE NATION: We are glad you have been paid your pension entitlements.

TANKO: Good day, I will like to know when last year’s retirees will be paid their lumpsum. I am Tanko from Lokoja, Kogi State.

OGUNBANJO: My name is Ogunbanjo. My complaint is on unpaid accrued right January 2021. I retired in January 2021 and successfully completed my online and physical verifications and with my PFA, Stanbic IBTC Pension. The accrued rights for January to April 2021 were released, but unfortunately, mine was still awaited or omitted.

JIDE: Good day, I would like to know if there is another email address for PenCom as displayed in the Nation page info@pencom.gov.ng. I sent an email to the above address but it was returned undelivered. Thank you for your usual assistance.

JAMIU: My name is Jamiu from the University of Ilorin. I wish to request for remittance of my pension contribution from April 2016 to January 2020. However, I have earlier sent a letter of complaint with relevant documents to the commission, and was acknowledged on April 22, 2022. Kind regards.

THE NATION: The newspaper will intervene. Therefore, Jamiu, Jide, Ogunbanjo, and Tanko should look out for the newspaper next week for responses from PenCom.

 

UWEM: Good day, my uncle, Mr Godwin Uwem was a teacher at Poly Staff School, Ibadan for years. He was compulsorily retired five years ago without any form of gratuity. At present, he is languishing in hunger; he has turned a street beggar and his children roam the streets of Ibadan in search of what to eat daily. Every effort to meet the Provost of Ibadan Polytechnic proved abortive. Please, sir, how can you help to savage the elderly man and his suffering children?

PENCOM: Please provide your uncle’s PFA and RSA PIN details to enable the commission investigate further.

HASSAN: I am Hassan. My RSA shows that there was no remittance by my employer in 2015, 2016, 2017 and part of 2014 and 2018. Please help find out why.

PENCOM: Please write to the commission stating non-remittance of pension contributions by your employer.

ANNONYMOUS: I retired in June 2016 from Federal Polytechnic, Bida. I was paid my benefits in July 2017 through my PFA, Premium Pension. I then transferred to Leadway for Annuity. The Federal Government recently said it has released money to pay 2.5 per cent it is owing out of its 10 per cent. I am being owed 24 months.  When and how will this money be paid.

PENCOM: Please be advised that if the amount payable is less than N100,000, it will be paid into your bank account. However, for payments above N100,000, you are advised to purchase a second annuity from a Retiree Life Annuity (RLA) provider.

HAMZA: Good Day and God bless you for the updates and solutions you have been finding to the retired and the non-retired persons. I am Hamza retired from Nigeria Postal Service (NIPOST) on February 10, 2021. I have been verified and enrolled accordingly. But, up till this moment, I have not received any information on my accrued right or total balance of my RSA. Kindly help me. Thank you.

PENCOM: Please forward your verification slip which was given to you upon completion of the enrolment for us to investigate further. Thank you.

MUJA: My name is Muja from Suleja, Niger State. I worked with private security firm, where they do not give letters of appointment for employment or when disengaging personnel. I have been out of job for over six years. I have money with my PFA even though it is small. I need it to sustain myself. I called a staff member, who said I have to do some documentation which employer doesn’t give as I earlier stated. Please, what do I do to get my money? Kindly assist. Muja.

PENCOM: Please visit your Pension Fund Administrator (PFA) who will guide you in the process to access your Retirement Savings Account (RSA). Thank you.

ANNONYMOUS: Good day sir, please when will those of us who retired in 2021 get our lumpsum. Thank you.

PENCOM: Please provide your RSA PIN.

ALAKE: Hello, my name is Alake, a retiree of Lagos State University (LASU). l retired on February 20, 2021 and my pension administrator is NUPEMCO. By February 20, 2022, it will be a year that l retired. l have submitted the required documents. I was only told to be patient without nothing for sustenance. Please help me. Thank you.

PENCOM: Please provide your RSA PIN.

 

 

 

IKEJE: Good day. In 2016, I retired from Nigerian Customs Service (NCS). I want to complain to you about my accrued benefit, which was increased from 7.5 per cent to 10 per cent and sent to my PFA – Stanbic IBTC Pension.

I went to their office but they said my money had not been sent to them. But when I showed the staff member a copy of The Nation, which reported  my case, he turned to say that they were paying it batches. Shortly, you pushed for me. Now I have been paid. I thank the newspaper. God will continue to bless the company.

TAYO: Good day, my name is Tayo. My late mother had two Retirement Savings Account (RSA)  PINs with two pension managers. There are funds in each account. How do I process her benefits?

PENCOM: You are advised to write a letter of complaint to the Director-General, National Pension Commission, Plot 174, Adetokunbo Ademola Crescent, Wuse , Abuja. The letter should state your late mother’s full name, the two RSA PINs with the Pension Fund Administrators (PFAs) and evidences of registration with the two PFAs. Thank you.

CHRISTIAN:  Greetings Omobola. My name is Christian. I voluntarily retired from federal service as lecturer on December 31, 2019. Last November, I changed from Pal Pensions to Stanbic Pensions. But till date, I have not got a kobo from my PFA.

PENCOM: Please be informed that your retirement benefits are being processed and you will be notified by your Pension Fund Administrator (PFA) once payment has been made. Thank you.

OTI:  OTI: My name is Oti, a former staff member of Skye Bank Plc. My complaint is on the ‘wrong doing’ of my PFA. I left the service of the bank since December 2009.

Then I applied for my accrued benefit of 25 per cent since last November. But up till now, no response from them. My letter of non-indebtedness was sent to them from my former employer since January 19, this year.

Kindly tell them to pay my 25 per cent. I am based in Calabar. The Calabar office manager refused to pick my calls or talk to me. I have health challenges. I need the money for surgery.

PENCOM: Please be informed that the commission has approved your request since March, this year. You are pleased requested to liaise with your PFA for further enquiries. Thank you.

AJALA: Greetings to the Director-General of PenCom and The Nation. My name is Ajala, a paramilitary officer. I retired in June 2009. My Pension Fund Administrator is Sigma Pension. My complaint is on the non- payment of 2.5 percent and arrears. Thank you.

PENCOM: Please be informed that you are not eligible for the 2.5 per cent differential as the Presidential approval took effect from July 2014 when the Pension Reform Act 2014 was amended for the increment in the rates of contributions. Thank you.

IZUATA: My name is Izuata, a retired ASP. I was paid a pitiable amount as lump sum while a huge sum was left in my account. Meanwhile, junior officers who went to PenCom’s office were paid higher than l.

I am bedridden. I am, therefore using this forum to appeal to PenCom management to pay me the accruing sum to enable me build a house for my children.

PENCOM: Please be informed that your retirement benefits, which include your lumpsum and monthly pension, were computed based on your RSA balance as at February 2012. Furthermore, be informed too that the RSA balance is solely for pension.

BROWN: Good day, I am D.S.C. Ukeje. I have been going to Stanbic IBTC to get the 10 per cent benefit okayed by Mr. President for pensioners.  But Stanbic IBTC has refused to give pay us.

We plead with PenCom to order it to pay us. Even the Nigerian Custom Service, where we retired from in 2016 has forgotten us. Our rank mates that still serving are well paid. If this money is not paid, we will take laws into our hands.

PENCOM: Please forward your Retirement Savings Account (RSA) PIN, Pension Fund Administrator (PFA) as well as other vital information to enable the commission to investigate further. Thank you.

ADETUNJI: Good day. I am Adetunji, writing from Ibadan. My daughter, who has just got a job, was asked to open a Retirement Savings Account (RSA). Please, how do we go about it? Thank you.

PENCOM: Please visit the commission’s website at http://www.pencom.gov.ng for a list of Pension Fund Administrators (PFAs) and their contact details. Feel free to contact any of them so they can advise you of the nearest branch to you. They would assist you in opening  a Retirement Savings Account (RSA) for your daughter. Thank you.

ANDERSON: Good day. I am Assistant Superintendent of Police (ASP) Anderson Anzaku. For quite sometime, I have not been receiving my monthly SMS. I do not know what is in my savings account. Please help me.

PENCOM: Please visit your Pension Fund Administrator (PFA) so they can update your telephone number as well as your email address  for you to receive alerts and statements monthly. Thank you.