Category: Pension

 

 

ENE: I am Asuquo from Akwa Ibom State. Please, what are the rules and regulations of payment for Federal Government retirees? Secondly, I retired in April, this year, when will my accrued right be paid?

PENCOM: The rules and regulation for payment of Federal Government retirement benefits under the CPS starts by participating in the commission’s Pre-retirement verification and enrolment. The prospective retiree/retiree needs to contact the Pension Desk Officer (PDO) of his/her MDA to get the necessary documents for enrolment. He/she is also required to come along with the PDO to the enrolment centre for his/her attestation. After the enrolment exercise, the retirement benefits are determined and paid into the RSA of the retiree based on the information provided by the retiree during enrolment. But please NOTE that retirement benefits are paid subject to release of funds by the Federal Government for payment of accrued rights.

FOLOWOSELE: My name is Folowosele. I retired as a civil servant. Please, what documents do I submit to PENCOM to process my pension?

PENCOM: He needs to contact the PDO of his MDA to get the necessary documents for enrolment. He is also required to come to the PDO for his/her attestation.

OLUSEGUN: Mr name is Ampitan. I retired from service on January 31, 2005. I am not on pension payroll up till date after being verified by PTAD. I did my verification in September 18, 2017, at Rowepark, Lagos. Please save my soul.

My gratuity, pension arrears and monthly pension are yet to be paid, while others have been receiving theirs. I started work in December 18, 1972 and retired in January 31, 2005. My claim is CSPD. (Federal Share). I have submitted my documents several times, yet nothing has been done by PTAD on my case.

Kindly save my soul. My mother has nine children. I am the only son. I lost all my sisters as I am the last born. I am facing a life-threatening challenge of my life. All my efforts are not yielding results.  Thank you and God bless.

PTAD: Pensioner to scan and send a copy of his pensioner verification acknowledgement slip to complaints@ptad.gov.ng to enable us review and update him on the status of his complaint.

SUNDAY: Dear Omobola, my name is Fasuyi, a military pensioner who retired in 1979 as Corporal with effective pension date of October 16, 2015.

After my verification at Akure Military Barack on the same date, I have not received any money since my retirement. Please I need your help. Do not let me die in vain and suffering after serving my nation with all my mind. I am waiting to hear from you.

PTAD: Pensioner is not under PTAD because he said he worked and retired in the Nigerian Army. He should direct his complaint to the Military Pensions Board not PTAD. We contacted the pensioner on his mobile phone to advise him accordingly.

OWAH: The Cross River State Association of Retired Permanent Secretaries wishes to bring to your notice that though PTAD verified the state pensioners in February 2017, collected photocopies of our Blue papers for payment of our federal share of harmonised pensions arrears, it has not paid up till date. We addressed a humble appeal dated February 26, 2020 to Dr. Chioma Ejikeme, Executive Secretary, PTAD to no avail. The frequent excuse of non-release of funds (when funds are being provided in yearly budgets) has assumed a toga of inhuman treatment of senior citizens of CRS, resulting to geometric rate of premature deaths owing to illness.

Please come to our aid and remind PTAD to redeem its image by paying us.

PTAD: Parastals Pensions Department is working to resolve complaints of verified pensioners. However, the pensioner is advised to scan and send his pensioner’s verification acknowledgement slip to complaints@ptad.gov.ng to enable us review and update him on the status of his complaint. He should also provide his contact phone number to enable us contact him.

BULUKU: Kindly pursue my federal share of gratuity for me. The amount is N88,833. I am already on the federal civil pension monthly pay roll.

I hope you will find more information for me please.

I remain your retiree.

PTAD: Pensioner to scan and send his pensioner’s verification acknowledgement slip and original stamped and signed bank statement from retirement to date to complaints@ptad.gov.ng to enable us review and resolve his complaint.

TAYO: My name is Ojoade, from Ondo State. I want to introduce my father’s case to the PTAD management. My father, Mr Manase, is a retiree from the old defunct NEPA in 1999. His monthly pension salary is regular, but the gratuity and pension arrears have not been paid, despite appearances to PTAD.

I want you to use your good offices to investigate the delay.

My father is old, let him eat from his labour. I need an urgent reply.

PTAD: The Parastatal Pensions Department is working on the complaints of verified pensioners.

However, Ojoade is advised to scan and send his father’s pensioner verification acknowledgement slip to complaints@ptad.gov.ng to enable us review and update him on the status of his father’s complaint.

FILANI: I am Filani, a federal pensioner. I have, for years, been on a monthly pension of N108,745.21, but to my surprise, I was paid a paltry N6,984.79 as my November 2020 pension. I am in a shock. Please help me

ALABI: Dear Omobola, I have written several times and I will not stop writing until my prayers are answered. My name is Alabi. I am over 70.

I participated in the 2017 verification by the PTAD in Lagos State (Southwest) for pensioners.  I started receiving my monthly pension from March 2018.

In June 2018, I received N578,736.39 as pension arrears. I wish to say that since I retired in August 2004 as a Permanent Secretary, my monthly pension should start from that month and year. Hence, my monthly pension should start immediately. Similarly, my pension arrears should commence from August 2004. Let me quickly add that I have not received my federal share of gratuity.

Kindly assist me to compute my gratuity and also recompute my pension arrears. Please help me so that my labour would not be in vain.

AJUWON: My name is Ajuwon. I am a pensioner with the Nigerian Broadcasting Corporation. I got transferred to BCNN Kaduna and Kaduna Polytechnic where I retired in September 1976. My name has never been on federal payroll. One Sister Harriet got me verified by Brother Lawrence at the Pensioners House at Onireke Pensioners House, Ibadan in July or September 2019. But until now, I am yet to hear from them or receive any payment from PTAD. Please help me.

AKINFENWA: I am Akinfenwa, a pensioner with the Federal Ministry of Aviation. I have been getting my pension through UBA since 1985.  I am grateful. But there has been no additional payment since 1985. I went for pensioner’s verification, submitted to all documents to PTAD for over the non-harmonisation and short payment with no result. Please help me to ask PTAD to effect payment in my account.

ANNONYMOUS:  PTAD owes me pension arrears of three months since 2015. I was verified in October, last year. They have been promising to pay me more than one year ago. Why is it hard for them to pay?

OZEGBE: My name is Ozeigbe. My complaint is that I received N4000 monthly, but it was later reduced to N3,900.

Just  last month, N1,502.52 was credited into my account with a shortage of N2,496.30. At present, my gratuity and arrears have not been paid neither have I received any attention since I left service in 2006 on grade level 7/08. Kindly help me.

MURITALA: My name is Bolaji. I completed my National Youth Service Corps (NYSC) in 1996 after 12 years’ service. I am under PTAD. My September monthly pension was paid, but my October’s is yet to be paid. Kindly assist me.

AKUTSE: My name is Akutse from Plateau State. I retired in August 1, 2010 with state pension. My complaint is the non-payment of gratuity and irregular payment of monthly pension.

PTAD: Pensioner’s complaint has been resolved. He has been placed on the  monthly pension payroll. His arrears were paid to him in June 2018.

MAYOWA: This is for someone very close to me. Please read this and any action taken will be appreciated: “I retired as an Assistant Director of Education (GL 15) in December 1996, having served the government for 35 years. My gratuities were paid in 1998, when the value of the money had fallen more than 100 per cent. I started drawing my pensions in 2000. I am a purely federal pensioner, with no state share at all. Till date, I have not been allowed to enjoy any of the pension increases approved since 2000.

“In April 2009, my pensions were harmonised to enable me enjoy the 142 per cent increment approved in 2000. The voucher was prepared. This included the arrears accruing from 2000. That month, I was paid only the harmonised monthly amount. Up to date, the arrears have not been paid.

“Later this harmonised amount was reduced by 50 per cent. Despite series of verification and completion of complaints forms, no action has been taken on my case.

“However, the pension authorities keep on telling the public that they have been paying pension arrears and returning savings from discovery of ghost pensioners to government coffers.

“I submitted a letter of complaint to the Akure Office of the Public Complaints Office in April 2014, but I am not sure the letter left the office although they charged me for courier fees. I retired from the Federal Civil Service at the age of 56. I am now 76 and still being denied my entitlements by fellow compatriots.

“This complaint and relevant documents, including my bank statement of accounts, are in my records with PTAD as were with those who handed over to them.

“Why is it that nobody is doing or saying anything about my case since 16 years? Does the younger generation of Nigerians who find themselves in critical positions in our public service, know that robbing old people of their entitlements or unconscionably delaying the releases of genuine claims for over a decade, meant they are incurring God’s wrath and judgments on themselves?

“It was alleged that some highly placed managers of federal pensions had diverted billions of naira meant for vulnerable old retirees to their personal accounts. Must all these old people die without enjoying their benefits while those who are responsible for their plights continue to enjoy their loot with their families and friends?

“This administration that is committed to change and correcting previous ills, needs God-fearing people who are selfless, honest, public-spirited and free from covetousness to administer pensions. I thank you, Omobola, for your interest in the welfare of the elderly.”

PTAD: The pensioner is to provide a copy of his verification acknowledgement slip so that proper investigation and follow up can be done on his complaint.

ADETUTU: We read again in The Nation about my mother’s phone number which I sent on July 17, 2019.

But there is a mistake in the article because it was stated that she was paid monthly pensions from 2005 to 2010. She has not been paid. Those are the arrears she has asking for.

PTAD: The pensioner was contacted on her mobile phone number and informed to provide a copy of her pensioner’s verification acknowledgement slip through the complaints email (complaints@ptad.gov.ng). This will enable us investigate and follow up her complaint.

MABAWONKU: My name is Mabawonku, a pensioner with federal share. I retired with NERDC in1993 as assistant chief research officer. My gratuity and six months’ arrears pension have not been paid after several correspondence and appearances to PTAD. I did verification with PENCOM in 2011 and PTAD in Lagos in April 2019.

The Lagos State Public Service where I retired in 2010 as a director has paid its share. But nothing has come from PTAD. Please help me.

PTAD: The pensioner is to provide a copy of his pensioner’s verification acknowledgement slip to enable us investigate and follow up on his complaints.

AMBROSE: My name is Ambrose. I have my RSA with Leadway Pensure as my PFA. I have a private company and I applied for my pension in April, this year. I visited PenCom Benin office and filled in the form.

Since then, I have remained in touch with the office and my account agent by phone call, Whatsapp and email.

When I filled the form, the last statement sent to me by email stated that my RSA balance was N440,000. This was confirmed by the Benin office and I was told that all my balance will be paid lump sum as it was below N550,000 which is the maximum amount that is paid in whole at once.

I followed up my application with the Benin office and during one of my calls I was informed that it has been discovered that my RSA balance was more than N550,000 and so I will be paid a lump sum and a monthly pension. That a template detailing the payments will be sent to me to download, print and sign so that the payment can be made. The promised template was sent to me by Whatsapp last Friday. In summary, it puts my balance at N576,000, my lump sum payment at N147,000 and my monthly pension at N4,000.

I called both my agent and the Benin office to protest the over N400,000 retained, out of which a monthly pension of N4,000 will be paid telling them that the portion retained was too high and that N4,000 pension makes the entire amount valueless as N4,000 cannot buy anything of significance whereas I know what to do with my N550,000 or N576,000 if released to create value for myself.

Both staff members of Leadway Pensure did not see anything useful in what I have said and insisted that is how my contribution will be released. I will appreciate if you can on my behalf intervene with the company by investigating how suddenly, they added N136,000 to the initial balance of N440,000 as shown in my last statement of account which was in August, this year.

Intervene on my behalf so that I can be paid what is due to me and put my contribution in my hands for better economic use.

Thank you.

PENCOM: Unfortunately, Mr. Asemokha’s RSA balance cannot be paid to him en bloc because his current RSA balance is above N550,000. Where the RSA balance is higher than N550,000, and cannot fund a programmed withdrawal for the average period, the balance in the RSA shall be spread over the average period for monthly programmed withdrawal irrespective of whether or not such periodic amount is up to 50 per cent of the retiree’s last emolument.

JOEL: My name is Joel. I complained about my unpaid pension to my PFA since March 6, 2020 but I am yet to be paid. My PFA is indeed a terrible. After I complained to them about my application being unnecessarily delayed, I got a text message from them on April 20, 2020 saying that my application has been sent to PenCom for approval. Since then, nothing good came from them. I regret choosing this PFA. What should I do now? Kindly help me.

PFA (ANNONYMOUS): With respect to Mr. Joel’s complaint on the delay in processing his benefits application, we would like to clarify that his programmed withdrawal application was received on Friday,  March 6, 2020. While processing his application, the COVID-19 pandemic lockdown started and processing was halted due to the restrictions on movement. However, as soon as operations commenced on April 2020, his application as well as that of other clients affected by the lockdown, were processed to the PenCom for payment approval. Please note that payment was made to his bank account on  May 14, 2020 upon receipt of PenCom’s approval. We regret the inconvenience experienced by the client. We have also reached out to him via his registered email address to tender our apologies.

ANNONYMOUS: I want to remain annonymous. My PFA is Stanbic IBTC. My issue is that when I claimed 25 per cent, I was given a form to fill where they requested for date of birth which I filled. They then told me that what I filled is different from what they have in their record. They told me that for them to correct it, I should bring evidence and they also wrote my last employer. My employer responded and verified my correct date of birth. Since then, I thought they had done the correction but to my surprise, I received an SMS last year, stating the wrong date of birth, showing that they have not corrected it. Kindly help me so they can the change.

STANBIC IBTC PENSION: The client filled a date of birth on his account opening form and this was captured accordingly on our records. He engaged us on August 17, 2015 for the correction of his date of birth, and the requisite list of documents was provided to him.

We equally engaged his employer for the letter of confirmation of his date of birth, a document also required for this purpose. The letter of confirmation was received from his employer on August 27, 2015. We  await additional validation documents requested from the client to enable us complete the update process.

We regret the inconvenience experienced by the client and have reached out to him via his mobile number to apologies as well as request for the outstanding documents (National Identity Number and completed Date of Birth form). Please be assured that his request will be resolved as soon as we receive the documents outstanding.

By Omobola Tolu-Kusimo

 

The governing council of the Pension Fund Operators Association of Nigeria has commended the National Pension Commission on the opening of the transfer window, which allows contributors to change their Pension Fund Administrators.

The council, however, emphasised the need for pension operators to maintain high standard of ethics in the conduct of their businesses, especially as the transfer window has been opened.

PenOp made this known in a statement entitled ‘PenOp’s governing council commends PenCom on RSA transfer window’.

The council said this move would accelerate the journey towards greater self-regulation in Nigeria’s pension industry.

It said during the governing council’s meeting held virtually for the first time, the operators commended the Federal Government for the constitution of PenCom board.

PenOp said the meeting had in attendance all the trustees and executives of the association, and was directed by the Chairman of the council of PenOp, Prof. Fabian Ajogwu.

The governing council of PenOp provides advice and guidance to the executive committee in the running of the affairs of the association.

PenOp is an independent, non-governmental, non-political and non-profit making body established to promote the operations of the pension industry, provide for self-regulation and ensure that international best practices relating to the industry are observed by the operators registered in Nigeria.

It is the umbrella association for all the licensed Pension Fund Custodians, PFAs and Closed PFAs operating in Nigeria.

By Omobola Tolu-Kusimo

 

The total membership of the Contributory Pension Schemes increased by 5.67 per cent from 8,469,257 as at  December 31, 2018 to 8,949,536 as at December 31, 2019, the National Pension Commission (PenCom) has said.

According to the commission in its 2019 annual report, membership of the Retirement Saving Account (RSA) scheme dominated the total pension scheme memberships at 8,891,236 representing 99.35 per cent, while Approved Existing Scheme (AES) and the Closed Pension Fund Administrator (CPFAs) accounted for the balance of 0.65 per cent (40,951 and 17,349 respectively).

The RSA registrations increased from 8,410,184 as at December, 2018 to 8,891,236 as at December 31 2019, representing a growth rate of 5.72 per cent or 481,052.

The growth was attributed to a number of factors which include the increase in the level of compliance by the private sector as a result of the various steps taken by the commission to improve compliance and coverage such as engagement of recovery agents, as well as marketing strategies of the Pension Fund Administrators (PFAs).

In addition, the enforcement of the requirements of the Public Procurement Act 2007 for bidders for Federal Government contracts to provide evidence of compliance with the PRA 2014 also had positive impacts on the increase in membership.

The commission further stated that following the launch of the Micro Pension Plan (MPP) in March 2019, the registration for the MPP commenced with the RSA registration count for participants standing at 39,686 as at  December 31, 2019. It is expected that the RSA registration will continue to grow to improve Scheme membership with the sustained implementation of the Micro Pension Plan in 2020.

A breakdown of pension contributions showed that the total contributions remitted into the RSAs of employees in both the public and private sectors in 2019 amounted to N700.69 billion.

This comprised of N331.56 billion or 47.32 per cent for the public sector and N369.13 billion or 52.68 % for the private sector.

Consequently, the total pension contributions cumulatively grew to N5,795.65 billion as at December 31 2019.

This was made up of N2,895.97 billion contributions from the public sector, which represented 49.97 per cent of the total pension contributions and N2,899.68 billion from the private sector, which represented 50.03 per cent of the total.