Category: Pension

OYIBO: Good day, my name is Oyibo, a retiree of the National Youth Service Corps (NYSC). I was employed on December 9, 1991 and retired in January 2005. I did the last 2019 verification in Calabar. Based on my calculation, I am being owed pension. I have not been paid at all. Kindly help me.

PTAD: Kindly inform the pensioner to scan his verification acknowledgement slip to complaints@ptad.gov.ng and state his complaint while sending.

DAIRO & AYENI: Good day, my name is Oluwagbenga. I have two peculiar complaints. The first is that my mother, Mrs. Toluwalope Dairo, has not been verified by the PTAD since she became pensioner over 10 years ago. She has lost some documents due to flooding of her apartment. She  resigned her appointment from the Supreme Court in 1986.

Secondly, my late aunt, Mrs Ajoke Ayeni, who died about three months ago, has not been paid her pension for over 11 years. She was on the payroll before PTAD stopped paying her despite several verification. She retired from the Federal Internal Revenue Service and has been extremely ill for more than six years until she passed away.

Please note that in the process of going back and forth for the verification at various locations, she misplaced her appointment letter. We will be glad if you can be of help and sort out both cases. Thank you.

PTAD: Your mother is advised to scan her service documents, original stamped and signed Bank Statement from period of complaint till date and BVN printout to verification@ptad.gov.ng. She should please include her phone number.

In the case of your late aunt, her next of kin should kindly send a notification of death alongside with the death certificate, letter of administration and letter of introduction to verification@ptad.gov.ng. They should also request to be scheduled for verification attaching the late pensioner’s service documents and verification slip.

 DINNEYA: Good day sir, I am Dinneya, a Joint Admissions Matriculation Board (JAMB) pensioner. Since last October, PTAD stopped my pension. I did clearance in March, this year, yet I was not paid. My family and I are dying of hunger. My landlord has given me quit notice to vacate his house because I cannot pay rent. Please help me get my pension before I die in pains.

PTAD: Kindly inform the pensioner to scan his verification acknowledgement slip to complaints@ptad.gov.ng and state his complaint while sending

Read Also: PTAD: Resolving pensioners’matters

OMOGBOYE: Sergeant Omogboye, my husband, died on February 26, 2004. He served at 2 Squadron Police Mobile Force Keffi Street, Obalende Lagos. His next of kin are my children Sakirat Omogboye, Ismaila Omogboye and Mohamed Omogboye and I. Only gratuity was paid to the family since 2004, and for pension later.

We were told that the pension would be paid monthly to the children until they are 18. Sadly, since then, nothing has been paid. I was also told that we would be given N500,000 for insurance while the children would be entitled to scholarship because the deceased died on official duty. However, I thank you so much for your help.

I googled the newspaper to see my complaints and saw PTAD’s response  in the May edition. PTAD asked if I and other next-of-kin were verified and if so, we should send the verified slip to their email and if not, we should come to Abuja for verification. We sent the verified slip to them and this was for me and my daughter because we have been verified. Please note that only two of my sons that are yet to be verified. Please, we still need your help because they have been slashing my late husband’s money since he died in 2004. Even his pay master collected his salary for one year after his death before a signal was sent to the salary department to stop the payment. Even the gratuity and pension money sent to us was slashed, please come to our aid, because we are suffering. Thank you.

PTAD: NOK should please direct their complaint to complaints@ptad.gov.ng for further processing

SIMON: My name is Saamo and I am the next of kin to Simon. He retired as Lieutenant-Colonel in the Nigerian Army. He died on November 7, 2017. Till date, nothing has been paid. He has a family of about 23 children. My mother is suffering. Please we need your help.

PTAD: Please note that this complaint does not fall under the purview of PTAD. NOK is required to direct their complaint to Military Pensions for further actions.

OKE:  My name is Oke and I have problem with my gratuity with Federal Pension directorate. A colleague gave your number to me as somebody who can help?

PTAD: Pensioner should please send his verification acknowledgment slip to complaint@ptad.gov.ng for further investigation.

MAXWELL: Dear DG PTAD, I just want to inform you that I have not seen my Federal Share Pension for the month of August 2021. Others in my State Plateau have received theirs since 03/09/2021 but I haven’t seen mine. I want thank you for the good work you are doing in PTAD.

PTAD: Kindly inform the pensioner that his complaint is being processed and he can reach out to us on our phone number 094621700 or via email (complaints@ptad.gov.ng) for more information.

 

ANNONYMOUS: I want to remain anonymous. Is it possible for you to get the table on the new minimum wages of pensioners for us?

PTAD: Kindly inform the pensioner to direct his complaint to the National Salaries and Wages Commission who issued the circular on pension increase.

RAPHAEL: I am Raphael. I retired from the Jos Steel Rolling Company in 1993, on Grade Level 12/1. Since then, PTAD has been under paying me. I lodged several complaints during verification, but up till now, there had been no solution. Thank God for having you at the point of my solution. My cumulated arrears are over 20 years. You are my saviour in this matter. Kindly help me.

PTAD: Advise the pensioner to scan and send his pensioner verification acknowledgement slip to complaints@ptad.gov.ng. Pensioner is to also provide his contact phone number to enable us contact him.

OBI: I am Obi. I resigned from the Federal Housing Authority in 2005 after 14 years of service. In February 2021, I submitted photocopies of my documents as a prerequisite for verification at PTAD headquarters Abuja, but I am yet to be invited. I really don’t know what to do next, as I am yet to be put on pension payroll.

PTAD: Pensioner to provide his phone number to enable us contact him and schedule him for verification. He can also contact PTAD on 09-4621700 to request for verification.

CHIDI: My name is Chidi. My mother, Mrs. Augustina, has not been paid any  pension for over 15 years. Although it is a long story, which is partly not the fault of PTAD. But PTAD has taken over payment of pensioners, including my mother as well as her group in the Nigerian Railway Corporation (NRC), Enugu District. I would like to know when the pensioners (including Mrs. Augustina) in NRC, Enugu District that were part of the mass retrenchment in 2005 by former president Obasanjo administration, would start receiving their pension like others. Many of her colleagues are dead and some incapacitated due to hunger, hardship, trauma, and sickness. That Mrs Augustina still alive is only by the grace of God. More so, this is against the backdrop of the legal dynamics between her group and NRC, Enugu District, which despite the excruciating pains and lack of finance, won the case. Please Mrs. Augustina wants to know what is causing the delaying in their getting their pension till date.

PTAD: If the pensioner has been verified by PTAD, advise her to scan and send her pensioner verification acknowledgement slip to complaints@ptad.gov.ng. She should provide too her phone number to enable us contact her and advise her further on her pension.

.MOSES: My name is Ogundele. I will like to inform you that the minimum wage for 24 months is not correct. I was paid N64,304,44. But the monthly increase is N6,192,19. Some of my colleagues who are on the same grade with me were also short paid. Kindly help resolve the matter.

PTAD: Advise pensioner to scan and send his verification slip and complaint to complaints@ptad.gov.ng

DANLAMI: Thanks, and kudos to your newspaper for your responses to the plight of pensioners. It is very sad that since the defunct Nigerian Telecommunications (NITEL) verification of January 2018, I and other ex-NITEL staff members are yet to benefit from the pension payments. Please continue to help us in this regard. Because death can come at any time and one may lose his hard earned entitlement. God bless you. Kindly help me.

PTAD: Pensioner’s complaint sent to the Operations Department for their review and further action. Please advise pensioner to provide his contact phone number

ISHOLA: I am a Federal Government’s pensioner. I received my pension till last December, when I was paid N50,000 and later received a message that I have been over paid and that they deducted the over payment which was supposed to be completed in April 2021 with some balance to claim but nothing is paid into my account. Help me look into my matter.

PTAD: Inform pensioner that his over-payment recovery has been completed. He was put back on the payroll in May 2021. He is advised to confirm the payment from his bank

ABRAHAM: My name is Abraham, son and next of kin to the late Inspector Samuel Adem, from Benue State. My late father served the Nigeria Police and retired on June 29, 2004, after 26 years.

Until his death, his monthly pension was yet commence. This means he was not on police pension payroll till he died on October 6, 2010. Please where do we go and start processing pension and other death benefits. Is it PTAD or PenCom?

PTAD: Advise NOK to scan all his late Father’s service documents and his phone number to verification@ptad.gov.ng. he should also state deceased’s date of retirement from service.

ABUCHI: My name is Abuchi. I worked with the Federal Ministry of Housing and Urban Development. I was disengaged from service on July 13, 2006. Our gratuity was paid on June 19, 2007. I started receiving my pension from August 2008. My complaint is that I have not been paid my pension outstanding arrears from day of retirement which is from July 31, 2006 to July 31, 2008 after several submission of complain letter and bank statement. Since 2008 up to when we did our last verification in December 2017 and up till now, nothing has come out of it.

PTAD: Advise the pensioner to provide his original stamped and signed bank statement from retirement till date

ANNONYMOUS: Is it true that the monthly take-home of Grade Level 08 is N45,000 and the new monthly payment that has commenced is N50,000. What happened to those who have been receiving less than N45,000 monthly? Thanks.

PTAD: Kindly inform the pensioner that the increase in pension is an absolute increase. However, he should refer to the latest circular on the pension increase for his guidance.

 

By Omobola Tolu-Kusimo

IEI-Anchor Pension Managers Limited, a Pension Fund Administrator (PFA) has closed the financial year 2020 with N103.04 billion Assets under Management (AUM).

This is despite a temporary setback during the year under review when one of its major clients instructed a transfer of half of the assets under its watch to four other PFAs.

Consequently, this resulted in a reduction in the AUM by N27.86 billion. From the N109.26 billion it opened the year with, to N82.82 billion as at end of First Quarter, 2020.

Notwithstanding, the PFA by the year’s end recorded 104 per cent increase in profit before tax.

IEI Anchor Pension Chairman, Senator Rufai Hangan, presenting the account at the company’s Ninth Annual General Meeting (AGM) said they were focused on their mission of helping their clients to protect and grow their pension assets.

He said this is achieved through competitive investments at minimal risks. He said: “In the face of turbulence, your company remained unwavering in its operations by leveraging fully on the company’s robust ICT Infrastructure. We continued our quality service delivery in full compliance of the covid-19 protocols through virtual platforms.

“Priority was given to the safety of our staff and clients, while working to maintain business continuity through the crisis by decisive, timely and effective action, and finally by preparing for the opportunities that we know will emerge once the pandemic abates.’’

On corporate governance, he said: “In 2020, we had some changes in the composition of the Board. This is characterised by the appointment of Senator Zik Ambuno Sunday and the withdrawal of Messrs. Martins Wayer and Peter Irene. They were both representatives of International Energy Insurance Plc. New representatives have since been appointed with the approval of our regulator.

“The Board Committees were also reconstituted to harness the expertise of the Board members towards greater productivity. In line with our corporate governance policy, the Board’s performance evaluation was carried out by an independent consultant. Their reports have been objectively reviewed and recommendations for improvement have been adopted.

“As we push forward, the coming year holds much promise, as both the Board and management strive towards implementing re-designed business strategies and collective growth.”

He noted that with the opening of the Transfer Window by the National Pension Commission last November and driven by their desire to place their expertise on the pedestal for individuals, they had reinforced their services to leverage this opportunity and expand their market share.

He said they were targeting legacy funds and efforts were underway to boost their infrastructure and open branches in new areas.

The company’s Managing Director, Glory Etaduovie said last year  the company made tremendous progress and that despite the COVID-19 pandemic, the company had a very productive year, with the growth of N22 billion in AUM.

“This was even though as we had suffered a major setback earlier in the year in one of our major accounts, which was shared 50/50 with other admitted PFAs due to pressures on the employer. This new situation, however, helped to rebalance assets heavily skewed towards just a few accounts.

This thus reduced our risk concentration. We had dropped below the N100 billion assets mark to N83 billion after initially losing N28 billion from the earlier mention client. We were, however, happy to bounce back, despite the COVID-19.

“We maintained the number of branches and service centres as cost-saving measures. This, though, did not hamper our business drive. The company’s AUM closed for 2020 at N103 billion. 7,753 RSA PINs were generated in the year, giving us a total of 138,195 RSA PINs. We have 55 per cent funding overall. This is a source of concern, though inevitable sometimes due to losing jobs or double RSA PINs. We are working on improving the situation.

“Our investment department also worked hard to optimise the funds available for investment. We were placed third, fifth, 13th and 13th positions out of the 20 PFAs in the four funds approved for the RSA,” he added.

By Omobola Tolu-Kusimo

The Director-General, National Pension Commission (NPC), Mrs Aisha Dahir-Umar, yesterday said the industry has accumulated assets worth over  N13 trillion.

She spoke at a two-day sensitisation organised for stakeholders at the NAF Conference Centre and Suites, Abuja. The conference had as its theme: “Eradication of pension fraud in Nigeria.”

Dahir-Umar said that the Pension Reform Act (PRA) 2004 as repealed by PRA 2014 has restored credibility and confidence in the country’s pension systems, a feat she attributed to the growth being experienced in the industry.

She recalled that the problems of fraud and mismanagement in the pension sector in Nigeria were amongst the reasons that necessitated the pension reform of 2004 by the Federal Government.

She said: “The Pension Reform Act 2004, which was later reviewed and re-enacted in 2014, introduced legal and institutional frameworks aimed at addressing the rot that characterised the administration of pensions in the pre-reform era. The Act also established PenCom to regulate and supervise all pension matters in Nigeria, including the licensing of Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs).

“The Pension Transitional Arrangements Directorate (PTAD) was also established by the PRA 2014 to administer, in a transparent manner, the Defined Benefits Scheme (DBS) for pensioners exempted from the Contributory Pension Scheme (CPS). These measures substantially restored credibility and confidence in Nigeria’s pension systems. Thus, we have, today, an industry that has accumulated pension assets in excess of N13 trillion, invested in various aspects of the economy and still growing.

“Pursuant to its statutory mandate under Section 23(f) of the PRA 2014, PenCom has consistently undertaken public education, enlightenment and awareness campaigns on the CPS and other pension matters. It has also developed and established structures, systems and procedures that ensure transparency, accountability and efficiency in the administration of pension in Nigeria. These systems and procedures have become reference points for other African countries, many of whom have undertaken study visits to the Commission.”

She, however, stated that, as it is the case with every human endeavor, retrogressive elements continued to exploit procedural gaps in the operations of pension practitioners in both the CPS and DBS to the detriment of unsuspecting public.

“Thus, new issues and challenges continue to emerge, which place special responsibility on the regulators, the operators and other stakeholders to constantly review their operating environment with a view to finding solutions to address the problems. Happily, the PRA 2014 had strengthened Nigeria’s pension institutions in both the Contributory and Defined Benefits Schemes, and imbued them with the capacity to rise above emerging challenges. Thus, while these institutions explore their respective…, the continued collaboration with the EFCC would certainly serve as catalyst for reducing the menace of fraud in the pension industry to the barest minimum.

“Indeed, we must recognise the uniqueness of this workshop, which has literally taken our collaboration to the next level. Stakeholders have all converge to discuss within the two days of this workshop, the entire ramifications of fraud in the pension administration space, understand the issues, share experiences and find proactive ways of preventing their occurrence. This is indeed a mutually beneficial and veritable platform which we must all keep and ensure its sustainability,” she added.

 

SHIDALI: I salute the entire staff members of the commission for the welfare of the retirees under the Contributory Pension Scheme (CPS), which I belong to. Please, I want to know the position of 2.5 per cent approved by the Federal Government which took effect from 2014. I look forward to hearing from you again.

PENCOM: Please visit your Pension Fund Administrator (PFA) as the payment has been effected from the commission. Thank you.

ADEMOYEWA: Good Day, the Federal Government last July increased it share from 7.5 per cent to 10 per cent under the Contributory Pension Scheme (CPS) and directed a retrospective payment of arrears from 2014 to its workers. In other words, the 2.5 percent increment should be paid to its retired workers under the CPS from 2014 to date. PENCOM is yet to implement this directive for those of us that retired in 2018. Kindly help us out – Dr Ademoyewa.

 PENCOM: Please visit your Pension Fund Administrator (PFA) as the payment has been effected from the commission. Thank you.

DADA: President Muhammadu Buhari  has approved the payments of outstanding accrued pension rights for Federal Government’s retirees, death benefits and 2.5 per cent increase of monthly pension contributions for the same employees. PenCom, please when are you paying us the 2.5 per cent?

PENCOM: Please forward your full names as well as your RSA PIN details to enable the commission investigate further. Thank you.

UKEJE: My name is Ukeje. I retired from Nigeria Custom Service (NCS) in 2016 on Grade Level 10. We read that Mr. President had released 7.5 to 10 per cent, being the back log of the people that retired from 2014 till date. My monthly pension has not been increased.

PENCOM: Please visit your Pension Fund Administrator (PFA) as the payment has been effected from the commission. Thank  you.

DABUP: I wish to know if I am a beneficiary of the 2.5 per cent pension arrears. I retired in January 2011 and my PFA is Leadway annuity.

PENCOM: Please be informed that you are not eligible for the pension arrears. Those eligible are those who retired from 2014, when the Pension Reform Act (PRA) was amended with the new rates of contribution.  Thank you.

BASHEER: I retired on May 20, last year from Nigeria Custom Service (NCS). After the accrued right had been paid up till November 2021, I approached my PFA, only to be told that my name was missing from PENCOM’s master list. I was told that my name and others were omitted and that we should wait for Batch 51. Please, when will the Batch be paid. Kindly consider my condition.

PENCOM: Please forward your full names as well as your RSA PIN details to enable the commission investigate further. Thank you.

MBAH: My name is Mbah. I sent my 25 per cent request to Fidelity Pension since last December. I am yet to get it. Please assist me.

PENCOM: Investigations revealed that your request is yet to be submitted by the PFA to the Commission for approval. You are hereby requested to visit your PFA i.e., Fidelity Pensions to ascertain the status of your request.

ANONYMOUS: I want to remain anonymous. My PFA is Premium Pension Limited. My problem is: “On September 16, 2020, I received a text message saying: Please be informed that people have received approval from PENCOM regarding your pension benefit payment. Contact 09-4615700 for further information.”

The following day, another text message came, stating as follows: “Dear member, kindly disregard the SMS received on approval from PENCOM. This was sent in error. We apologise for any inconvenience caused as a result of this.”

Please, sir, help me to understand who is fooling who, because the benefits are  long overdue for payment.

PENCOM: Kindly ignore the messages on pension payments claiming they are from the Commission. PenCom does not contact individuals, only Pension Fund Administrators are allowed to contact retirees to notify them on such related issues. However, kindly furnish the Commission with your PIN for further investigations.

AKEREDOLU: Greetings to The Nation. God bless you more for the good works you are doing for pensioners. Please, I want to know the reason the PenCom or PFAs are not paying the arrears of retirees that who quit work in 2014, 2015, 2016, etc up till now. My PFA, Legacy FCMB Pension, does not send me any information or alert till date. I want to know what they are doing with my pension. I want PenCom to warn or sanction my PFA for not communicating with me.

PENCOM: Please visit your Pension Fund Administrator (PFA) as the payment has been effected by the commission. Thank you.

 

ANONYMOUS: I want to remain anonymous. Is it possible for you to get the table on the new minimum wages of pensioners for us.

PTAD: Kindly inform the pensioner to direct his complaint to National Salaries and Wages Commission who issued the recent circular on the increase of pension

RAPHAEL: I am Raphael, I retired from Jos Steel Rolling company in 1993, on grade level 12/1. Since then, PTAD has been under paying me. L lodge several complaints lodged during verifications, but no solution till now. Thank God for having you at the point of my solution which is visible and assured. My cumulated arrears are over 20 years. You are my saviour in this matter. Kindly help me.

PTAD: Advise pensioner to scan and send his pensioner verification acknowledgement slip to complaints@ptad.gov.ng. Pensioner to also provide his contact phone number to enable us contact him.

OBI: I am Engr Obi. I voluntarily resigned from the service of Federal Housing Authority in 2005 after 14 years of service. In February 2021, I submitted photocopy of my documents as a prerequisite for verification at PTAD headquarters Abuja, but I am yet to be invited. I really don’t know what to do next, as I am yet to be put on pension payroll.

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PTAD: Pensioner to provide his contact phone number to enable us contact him and schedule him for verification. He can also contact PTAD on 09-4621700 to request for a verification

CHIDI: My name is Chidi. My mother, Mrs. Augustina has not been paid any dime as pension for over 15 years now. Although it is a long story which is partly not the fault of PTAD. But PTAD has taken over payment of all pensioners including my mother as well as her group in Nigerian Railway Corporation (NRC), Enugu District to be precise. I would like to know when the pensioners (Mrs. Augustina inclusive) in NRC, Enugu District that were part of the mass retrenchment in 2005 by former president Obasanjo administration, start receiving their monthly pension like others? Many of her colleagues are dead and some incapacitated due to hunger, hardship, trauma, sickness. That Mrs Augustina still alive is only by the grace of God. More so, this is against the backdrop of the legal dynamics between her group and NRC, Enugu District, with excruciating feebleness and available financial support won the case. Please Mrs. Augustina (my mother) want to know what is delaying them from receiving their pension till date.

PTAD: If the pensioner has been verified by PTAD, advise her to scan and send her pensioner verification acknowledgement slip to complaints@ptad.gov.ng. Pensioner to also provide her contact phone number to enable us contact her and advise her further regarding her pension.

MABAWONKU: My name is Mabawonku, a federal and state pensioner. I worked with Nigeria Educational Research and Development Center (NERDC) from September 14, 1982 to July 6, 1993. I Joined Lagos State on July 15, 1993 and retired on January 26, 2008 as a director. Lagos State paid their own share of gratuity and pension in 2010 but that of the federal share has not been paid up till today despite several demands in writing. I am expecting gratuity and six months pension arrears, from January to July 1993. I have done physical verification at PTAD Lagos office on April 23, 2019, submitted bank statements from 2008 to date as requested by the PTAD through the zonal office, Lagos including the one showing the gratuity paid by Lagos. My original pension file has been retrieved from NERDC by PTAD Since November 2017. Despite all the conditions met since 2019, my gratuity and pension arrears have not been paid. Kindly help,

PTAD: The department revealed that, his complaint is still under-going review with the extant rules. However, they assured us that his complaint will be resolved shortly.

MOSES: My name is Ogundele, I will like to inform you that the minimum wage for 24 months is not correct. I was paid N64,304,44. So increase per month is N6,192,19. Some of my colleagues that are on the same grade as me were also short paid. Kindly help see that I am correctly paid.

PTAD: Advise pensioner to scan and send his verification slip and complaint to complaints@ptad.gov.ng

DANLAMI: Thanks, and kudos to your newspaper for your responses to the plight of pensioners. It is very sad that since NITEL verification exercises of January 2018, I and ex NITEL staff are yet to benefit from the pension payments. Death as a matter fact can come to any man at any time. Please continue to help us in this regard. God bless you abundantly. Kindly help me.

PTAD: Pensioner’s complaint sent to the operation department for their review and further action. Please advise pensioner to provide his contact phone number

ISHOLA: I am a Federal Government pensioner (pure federal) and my name is Ishola. I received my pension till the December 2020 when I was paid N50,000 and later received message that I have been over paid and that they deduct the over payment which supposed to finish April 2021 with some balance to claim but nothing is paid into my account. Help me look into my matter.

PTAD: Inform pensioner that his over-payment recovery has been completed. He was put back on the payroll in May, 2021. He is advised to confirm the payment from his bank.

ABRAHAM: My name is Abraham, son and next of kin to late inspector Samuel Adem, from Benue State. My late father served the Nigerian police and duly retired from service on June 29, 2004 with the total number of 26 years. Until his death, his monthly pension was yet commence.

This means he was not on police pension payroll till he died on October 6, 2010. Please where do we go and start processing pension and other death benefits. Is it PTAD or PENCOM?

PTAD: Advise NOK to scan all his late Father’s service documents and his phone number to verification@ptad.gov.ng. he should also state deceased’s date of retirement from service.

IGE: I am Ige, a pensioner under PTAD. Please, is it true that PTAD is asking for certain documents from us through some individuals claiming to be PTAD staff? Secondly, before our verification in 2019, we were told that after the verification they will pay our outstanding but till today we have not been paid. why?

PTAD: Advise pensioner to scan his verification slip to complaints@ptad.gov.ng.

ABUCHI: My name is Abuchi. I worked with Federal Ministry of Housing and Urban Development. I was disengaged from service on July 13, 2006. Our gratuity was paid on June 19, 2007. I started receiving my pension from August 2008. My complain is that I have not been paid my pension outstanding arrears from day of retirement which is from July 31, 2006 to July 31, 2008 after several submission of complain letter and bank statement. Since 2008 up to when we did our last verification in December 2017 and up till now, nothing has come out of it.

PTAD: Advise the pensioner to provide his original stamped and signed bank statement from retirement till date

ANNONYMOUS: Good Day, is it true that the actual current monthly take home of grade level 08 is N45,000 and the new monthly payment that has commence is N50,000. what happen to those who have been receiving less than #45,000 monthly? thanks

PTAD: Kindly inform the pensioner that the increase in pension is absolute increase. However, he should refer to the recent circular on the pension increase for his guidance.

 

By Omobola Tolu-Kusimo

Bayelsa State Governor, Douye Diri has promised  to pay promptly retired civil servants  their pension and gratuity.

The governor stated this at the send off organised by the Permanent Secretaries (PS) Forum for 30 retired PS in Yenagoa, the state capital.

According to Diri, the joy of every civil servant is to get his gratuity and pension on retirement, so his administration’s policy would not deny retirees such benefits.

He announced a reward of N1 million each to the 30 retired PS.

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Diri said the gift was an appreciation from the government for their meritorious services to the state, adding that plans were underway to collaborate with pension managers to ensure that retirees get their benefits promptly.

He said: “One of the focal points of every civil servant is that when they retire, they expect their pension on monthly basis. We have promised not to treat our senior citizens with levity and would like to keep that promise as long as we remain in the saddle of governance in Bayelsa State.

“Today, we are celebrating you for the meritorious service you rendered to your dear state. I join in thanking and calling you to continue in the fashion that you have done while in service and to render services now as senior citizens of our dear state in terms of advice from the experience you have garnered over the years.”

 

 

By Omobola Tolu-Kusimo

The pathway to Africa’s economic growth is gender parity, the  Professional Insurance Ladies Association (PILA) has said.

The  Chief Operating Officer, WAICA Re, Dr Abiba Zakariah, stated this at the Women in Insurance forum hosted by PILA at the 47th African Insurance Organisation (AIO) Conference.

It had as the theme “Women collaborating for Africa’s economic growth”.

She  charged women to acknowledge their strength by redefining “our objective from ‘gender equality’ to ‘playing our role’”.

Zakariah stated that women, over and above their income-earnings, are central to the household economy and the welfare of their families which often remains unseen and unaccounted for in Gross Domestic Product (GDP).

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She said: “It has been shown that national economies lose out when a substantial part of the population cannot compete equitably or realise its full potential.

“Recent estimates suggest that gender parity has the potential to boost global gross domestic product (GDP) by between $12 trillion and $28 trillion between now and 2025.”

The WAICA Re boss advised women professionals to be concerned with how to fix the economies to earn respect as partners in development.

PILA President, Mrs Joyce Ojemudia, praised the Chairman of the Organising Committee, Mrs Ebelechukwu Nwachukwu and AIO Council for integrating the PILA Africa workshop into the conference.

The highpoint of the event was the presentation of an award to the outgoing AIO Secretary-General, Ms Prisca Soares for her contributions to women in insurance and the industry.

Ms Soares thanked PILA’s leadership for the honour.

Discussants at the event included Mrs Yetunde Ilori, the Director-General, Nigerian Insurers Association (NIA), Mrs Seyi Ifaturoti, broker and Mr Shaibu Ali, an insurance expert from Ghana.

Bunmi Adeleye, a communications professional with Leadway Assurance Company moderated the event.

PILA Africa is an initiative of PILA Nigeria which objective is the unification and presentation of a scalable platform for women in insurance on the continent.

 

By Omobola Tolu-Kusimo

The creation of Sharia Fund also called Fund VI under the Contributory Pension Scheme (CPS) will assist in expanding the coverage of the Scheme, the Director-General, National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar, has said.

The PenCom boss, in a document obtained by The Nation, stated that the Fund will expand coverage by attracting employees with reservations about investments in non-shariah compliant instruments.

She said it will also promote financial inclusion within the  financial system.

She said there had been demand by Retirement Savings Account (RSA) holders for the opportunity to invest their retirement savings in non-interest instruments.

She noted that this led to  engagements with other financial regulators and stakeholders towards creating a non-interest fund (based on Islamic Shari’ah Principles) to cater to the needs of these  RSA holders.

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She said: “The regulation on investment of pension fund assets (investment regulation) defined ‘non-interest compliant instruments’as “financial securities and specialist investment funds that comply with the provisions of islamic commercial jurisprudence (Shari’ah) and any other established non-interest principles, as approved by the Financial Regulation Advisory Council of Experts (FRACE), or any other body, constituted by the Central Bank of Nigeria and/or Securities and Exchange Commission, from time to time.”

On the objectives of the Sharia Fund, she said: “The framework is to establish standards and procedure for the management of the Fund by licensed PFAs in Non-Interest instruments as provided in Section 7.3 of the Investment Regulation; to assist in expanding the coverage of the CPS by attracting employees with reservations about investments in Non-shariah compliant instruments; and to promote financial inclusion within the Nigerian Financial System.

“The Commission set the investment regulation under the framework to assist in expanding the coverage of the CPS by attracting employees with reservations about investments in non-shariah compliant instruments; and to promote financial inclusion within the financial system.

“On legal framework, Section 85 of the Pension Reform Act (PRA) 2014 provides that contributions shall be invested by the Pension Fund Administrators (PFAs) with the objectives of safety and maintenance of fair returns on amount invested in accordance with regulations and guidelines issued by the Commission. Section 4 of the Regulation on Investment of Pension Fund Assets (Investment Regulation) required PFAs to invest Fund VI assets in instruments that are both ethical and non-interest bearing.”

OJI: Hello, my case is PenCom-related. I retired from service in 2015 on GL 08, but was paid off on GL 07.

Let me explain: I was promoted in 2014, but the Nigeria Custom Service (NCS) failed to effect the salary difference till September 2015.The following month, I retired. I was paid off on GL 07 instead of GL 08. Indeed, I was heavily shortchanged.

Kindly help me as this shortfall is affecting my monthly pension.

PENCOM: Custom is a self-funded organisation, therefore, you should channel your complaints to Nigeria Customs Service to get the variation for your promotion. Your employer NCS will compute the variation and remit same to your Retirement Savings Account (RSA).

CHUKWUKADIBIA: Good day. I am Agu Chukwukadibia Chidiebere. I registered with my phone number with Premium Pensions Limited when I was a Constable. I later lost the phone with the SIM card.

As aresult, I no longer have access to it and have not been receiving alerts and updates on my RSA from Premium for many years.

I am now an Inspector of Police. Please help me to resolve this issue so I can start getting alerts. Thanks, in anticipation.

PENCOM: The complainant is advised to visit the PFA, which he registered with, Premium Pensions Limited, to update his  details and request for receive alerts.

OLUWAFUNKE: My name is Sheriff. My sister Yetunde and I are  next-of-kin to Mrs Oluwafunke, who worked at the Ministry of Health, Lagos State Local Government Service Commission.

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She died on June 20, 2012. Her PFA is Trust Fund. Kindly direct us on how to get her pension benefit.

We request for this assiatnce becuase we were told to bring her statement of account which we don’t have.

Her level four to five promotion letter is also missing from her file and we can’t find it anywhere.

PENCOM: Please be informed that the deceased worked with the Lagos State Government. Thus the processing of her death benefits does not be under the purview of the National Pension Commission but that of the Lagos State Pension Commission (LASPEC).

The next-of-kin is advised to liaise with the deceased’s employer for file copy of the level four to five promotion letter.

MERCY: My name is Mercy. This is a reminder on the payment of my late husband’s unpaid benefits.

My husband died on October 5, 2019. His administrator First Guaranty Pension Limited.

I am really suffering with my children as the Aviation authorities have sent us out of the official residential quarters since April 3, last year.

I am appealing to you in God’s name to help me. You are my last hope. May God continue to bless you for your kindness.

PENCOM: You are required to provide your late husband’s RSA PIN to enable the commission  look into your complaint.

ANTIGHA: I retired from the Nigeria Television Authority (NTA). Since then, Pencom has not done its verification due to the outbreak of COVID-19.

Worse still, my PFA has refused to attend to me. Kindly help.

PENCOM: The National Pension Commission recently developed an online enrolment application for retirees and it is being deployed for activation. For the update on actual activation date, you are requested to visit your PFA and pension desk officer.

EKANEM: I am Assistant Superintendent of Police (ASP) Ekanem (rtd). I want to inform you that I applied on transfer which I have done, but NPF Pension has not paid me. What am I to do to get my money? Kindly help me.

PENCOM: You are required to provide your PIN, previous PFA and the new one to enable the Commission tackle your complaint.

AJETOMOBI: I lost my sister to the cold hands of death on February 16, 2016.

Her pension administrator is Legacy Pension. We have been going there to claim her contributions since she was not pensionable, having at the Secondary Education Board, Abuja for only about five years.

We have submitted all the necessary documents for over a year. But anytime we went there,they kept telling us that they were doing one verification or the other. . Please we need your help. Kindly assist us.

PENCOM: You are required to provide your late sister’s RSA PIN to enable the commission wade into the matter.