The Nation Newspaper

Category: Pension

  • Lagos signs 18% pension contribution rate into law

    The Lagos State Governor, Mr. Akinwunmi Ambode, has signed into law the Amendment of the Lagos State Pension Reform Law which increased the contribution rates under the Contributory Pension Scheme (CPS) to 18 per cent, Commissioner for Establishments, Training and Pensions, Dr. Akintola Benson has said.

    The Commissioner spoke while representing the governor at the presentation of retirement benefit bond certificates to retirees at the LASPEC Complex, NECA House, Ikeja, Lagos.

    Benson stated that under the administration of Governor Ambode, the state government contributions have now been increased to 10 per cent from 7.5 per cent whilst the employees’ contribution is eight per cent from 7.5 per cent.

    He said this is to make life more comfortable for employees who retire from the state’s public service.

    He also said that the state has again presented retirement benefit bond certificates worth N1.01 billion to 177 Public Service retirees.

    He said: “The payment made into the Retirement Savings Account (RSA) of the retirees represents government’s obligations under the discontinued Pay as You Go Pension scheme. From April, 2007, the state had transited to the Contributory Pension Scheme and had consistently remitted contributions into employees Retirement Savings Account.

    “A total number of 10,601 retirees from the Mainstream Service, Local Government/State Universal Basic Education (SUBEB), Teachers Establishments Training & Pensions Office (TEPO) TEPO and Parastatals of government had received accrued Pension rights of N43.63 billion.”

    The Director-General, LASPEC, Mrs. Folashade Onanuga, in her welcome address, encouraged the retirees and advised them to be wary of business ventures that appear to have high risk.

    She informed them that the issue of Identification Cards which had been in the pipeline for some time has been concluded.

    She disclosed that the issuance of the cards will begin next month.

  • Pension complaints and solutions

    UDOCHI: Ì am Udochi and I am 47 years old. I retired from Walvis Nigeria Limited in 2014 and 25 per cent of my entitlement was later paid to me. I need your help because I am having a health issue along with my children’s school fees. Please you can pay half of my money or all to enable  me take care of my health.

    PENCOM: Having collected 25 per cent, the remaining money will be paid to you as pension when you attain the age of 50.

    OJI: Hello sir/ma, please my case is PenCom-related. I retired from    Nigeria Customs Service in 2015 on GL 08, but was paid off on GL 07. The reason is that I got promoted in 2014, but Customs failed to implement or effect the salary variation till September 2015, while I was to retire the next month so I was paid off on GL 07 instead of GL 08. Thus I was heavily shortchanged and it is affecting my monthly pension. Please where do I go from here? My PFA is Sigma Pensions

    SIGMA PENSION: The client was contacted and advised to write to the Commission a letter of complaint for under payment stating his reasons, with supporting documents for a review. If we receive additional remittance from PenCom, he would be contacted.

    ANSWER: Customs 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 now compute the variation and remit same to your Retirement Savings Account (RSA).

     OWOLABI: My name is Owolabi, the son of late Supol Owolabi Sunday. I have an issue with the pension of my late father, who passed on on  March 13, 2015. We have paid the amount requested from us  and we have also submitted all the necessary documents. But we have not received any massage about the pension. Please help us.

    PENCOM: Please we need further details such as his PIN Number and Pension Fund Administrator(PFA) to enable us investigate the issue.  We called the above number provided but was wrong number.

    AMENKHIENAN: My name is Amenkhienan, I retired from the Nigeria Police on  October 1, 2017. 0n  February 20, 2018, I submitted all documents to the Managing Director NPF Pensions Ltd Abuja through the PDO Asaba for further action. Our insurance unit has paid me but NPF Pensions has refused to pay me. I went to NPF Pensions Office Asaba. All those that retired after me have all been paid. Please I need your help.

    PENCOM: We need additional information such as your PIN number and the date you did the pre-retirement verification and enrolment.

    ALFRED: I am Alfred (ASP retd). My complaint is against Sigma Pensions for refusing to transfer my total savings to Police Pensions and Police Pensions refusing to collect my total savings from Sigma. I retired  on October 1, 2017 after 35 years’ service. I have since been filling transfer forms from Sigma to police pensions since 2014 to date through police/police pensions to Sigma pensions and recently attached print out of total savings from Sigma pensions. My letters dated  January 9, 2019,  and January  9,2018, are relevant. Please l need your help as I am in pain. My colleagues have collected their cheques. No response from Sigma and police pensions. Alfred.

    SIGMA PENSION: The client was contacted and advised to write to the commission a letter of complaint for under payment stating his reasons, with supporting documents for a review. If we receive additional remittance from PenCom, he would be contacted.

    PENCOM: The Commission has received your request from Sigma Pension and it is being processed for approval.

    JIMOH: Dear ma, my name is Jimoh. I retired as Head messenger on Grade Level 4 step 15 from the Nigerian Meteorological Agency on September 7, 2005. I was duly verified at the PTAD liaison office in Lagos in August 2018. My complaint is that I have not been paid my pension salary since April, 2018. Please kindly come to my aid. Thank you.

    PTAD: The pensioner’s pension benefits have been computed and is awaiting federal audit clearance. He should receive his payment soon. Thank you

    JOHNSON:  I, Johnson wish to complain of non-payment of pension salary as from August 2008. My pension salary since August, 2008 is yet to be paid till date to me. Help appeal to PTAD to check its records and make the said amount payable to alleviate my financial burden.

    PTAD: The pensioner’s  benefits have been computed and are awaiting Federal audit clearance. He should receive his payment soon. Thank you.

  • California pension ruling skips test of constitutional protections

    The California Supreme Court has ruled that the elimination of a programme allowing public workers to boost their pensions was constitutional, but it sidestepped the bigger issue of constitutional protections for increasingly expensive public worker pension benefits that are eating away at the state’s finances.

    According to Reuters, the case brought by a California firefighters union against the California Public Employees’ Retirement System (CalPERS) appeared to be a candidate to test the legal right of public sector workers to accrue the same level of pension benefits throughout their career. This so-called California rule has limited the ability of the state to cut retirement benefits as a way to ease pension costs.

    Josh McGee, a senior fellow at the conservative Manhattan Institute, said the ruling leaves California with rising costs that are increasingly competing for money needed for state services.

    “By sidestepping a ruling on the California Rule, the supreme court didn’t solve anything. They left a big unknown out there to be determined at a later date,” he said.

    The high court affirmed previous trial and appeals court rulings that found the ability of public workers to purchase up to five years of additional service credit to boost their pensions was not protected by the state constitution’s contract clause.

    The elimination of that programme was part of a California pension reform law that took effect in 2013. Given its ruling, the supreme court said it would not take up the issue of whether the programme’s termination was an unconstitutional impairment of workers’ rights.

    “Because we conclude that the opportunity to purchase ARS (additional retirement service) credit was not a term and condition of public employment protected from impairment by the contract clause, its elimination does not implicate the constitution,” the opinion stated. “For that reason, we have no occasion in this decision to address, let alone to alter, the continued application of the California Rule.”

    McGee said that while other pension cases are working their way through the California courts, it was “relatively unlikely” that justices will give the state flexibility to reduce its pension costs.

  • PFAs pays retirees N68.1b in Q3

    Pension Fund Administrators (PFAs) have paid N68.17 billion lump sum to retirees as at Third Quarter, 2018, a report by the National Pension Commission (PenCom) has shown.

    In the report titled, PenCom Third Quarter, 2018, the commission said a total of N3 billion was paid in the period under review.

    The commission disclosed that it approved a total of 2,831 applications for retirement under life annuity during the quarter.

    This, it stated, brings the total number of retirees receiving their retirement benefits through the annuity plan to 57,302.

    The commission also said the 2,831 retirees received N1.7 billion as lump sum payment and paid premium of N16.04 billion to insurance companies.

    Meanwhile, the total number of retirees currently receiving their pensions under the Programmed Withdrawal (PW) contracts increased by 3.49 percent from 185,092 in the previous quarter to 191,556 in the third quarter of 2018.

    A  sectorial breakdown shows that 66.01 percent of those that received pension under the PW were from the public sector while retirees from the private sector accounted for the remaining 33.99 per cent.

    During the quarter under review, the sum of N15.23 billion was paid to 6,464 retirees as lump sum and N367 million as monthly programmed withdrawals.

  • Pension complaints and solutions

    MRS ADEJUMO: Thank you so much. I have seen my complaint in The Nation. I hope you will pursue my case to  enable PTAD address my complaint and settle the seven years’ and seven months’ arrears.  – Mrs Agnes Adejumo from Ibadan.

    PTAD’s response: The pensioner is advised to send her complaint, name and account details to complaints@ptad.gov.ng to enable us give an update on her complaint as no phone number was provided to communicate with her.

    Thank you

     

    SHARAYE:  I am Sharaye from Ondo State. l was cleared by the PTAD mobile verification team around June 2018. But after that, my pension stopped coming in.

    l am old. Kindly help me. Thanks.

    PTAD: The pensioner’s pension benefit has been computed and is awaiting federal audit’s clearance. He should receive his payment soon. Thank you.

     

    OYETAYO: I am Joshua. I retired as Assistant Director on January 13, 1997. Since 2010, I have been on a regular monthly pension of N3397. I was verified in August 2017.

    But the situation has not changed. Kindly appeal to PTAD to pay my entitlements.

    PTAD: We could not reach the pensioner via telephone to get his account details to enable us attend his complaint.

    The pensioner is advised to send his complaint, name and account details to enable us advise him. Thank you

     

    JIMOH: My name is Jimoh. I retired as Head messenger on grade 4 step 15 from the Nigerian Meteorological Agency on September 7, 2005. I was duly verified at the PTAD Liaison Office in Lagos in August, last year. My complaint is that I have not been paid my pension since April 2018.

    Kindly come to my aid.

    Thank you.

    PTAD: The pensioner’s pension benefit has been computed and is awaiting federal audit’s clearance. He should receive his payment soon. Thank you

     

    JOHNSON:  I, Johnson, wish to complain of the non-payment of my pension since August 2008.

    Help appeal to PTAD to check its records and make the said pay me.

    PTAD: The pensioner’s pension benefits have been computed and are awaiting federal audit’s clearance. He should receive his payment soon.

    Thank you.

     

    ISAAC: I am a retiree of The Nigeria Television Authority (NTA). I have a problem with the payment of my federal share of gratuity and pension since 1996. I have been screened several times in Akwa Ibom State by the PTAD. I am dying of starvation, hunger and ill-health. Mr President has really performed  well by attending to NTA pensioners.

    Please come to my aid.

    PTAD: The pensioner’s gratuity will be paid as soon as funds are made available by the Federal Government.

    Thank you.

     

    ESTHER: My name is Esther and I am state pensioner. I retired in June 2008. PTAD is yet to pay my pension despite verification since last August.

    Several pensioners have got theirs.

    Please help me.

    PTAD: The pensioner’s complaint is still being processed as the Directorate is yet to conclude the computation of pension benefits for pensioners verified in the second half of last year.

    Thank you.

     

    MURITALA: I am under the old pension scheme, where my monthly pension is regular. But I am yet to get last October and November pension.

    Please help me to effect payment.

    Thank you.

    PTAD: The pensioner has been paid his last October and November pension. He has also received his pension for last December.

    Thank you.

     

    GHEGHOR: My blame is Pius. I retired from the old Bendel State Education Board as Master 2 on SGL O8 Step 5 in March 1986.  My monthly federal pension was N7,537.43. It was increased to N10,024.70 in 2014.

    Surprisingly, it was reduced to N6,011.17 in May, last year.

    PTAD Response: Earlier, the pensioner was overpaid. He has been placed on his correct monthly pension. He is advised to provide his bank statement from retirement to date to enable review his case.

    Thank you.

     

  • Stanbic IBTC Pensions, others get ISO certifications

    Stanbic IBTC Pension Managers Limited, Stanbic IBTC Asset Management Limited and Stanbic IBTC Trustees Limited, all members of Stanbic IBTC Holdings PLC, have received ISO 9001:2015 Certifications.

    In a statement, Stanbic IBTC said the certification ihighly regarded globally.

    It stated that the Lead Auditor, DQS Management Nigeria Limited, a leading global certification body for quality management systems and organisational health, Mr. Lawrence Ogudu, while presenting the awards in Lagos, affirmed that the three firms met the certifications’ requirements.

    Ogudu listedd these to include   the ability to provide products and services that meet customer, statutory and regulatory requirements.

    According to him, it also involves the enhancement of customer satisfaction through the effective application of the system, including processes for improvement of the system and the assurance of conformity to customer and applicable statutory and regulatory obligations.

    He said the certification is simply a message to customers and prospects that the businesses have the capacity, are committed and sincere in their product and service delivery.

    The certification, amongst its many benefits, will enable the three businesses to serve their customers at the right level of quality and ensure zero variability in the delivery of services across the various digital and non-digital touch points, all of which enhances customer experience and relationships with the businesses, he noted.

    Stanbic IBTC Pension Managers Limited Chief Executive Mr Eric Fajemisin, who spoke on behalf of the subsidiaries, commended the teams for making the certifications possible. He stressed that the requirements of the system would be reviewed and developed for higher performance.

    He said: “Stanbic IBTC is pleased with the ISO 9001:2015 Certifications.’’

    According to the financial institution, it is a clear demonstration of the Stanbic IBTC Group’s drive to improve service delivery in all aspects of its businesses. The group assures that it will continue to build on its existing strengths, including its membership of the Standard Bank Group, Africa’s biggest financial institution, to improve on its service delivery across all segments, customer touch points and channels of operations.

    “The certification, Stanbic IBTC said, will help to benchmark performance by identifying areas that require fixing and improvement. The critical objective is to deliver quality and reliable services through improved internal management and operational processes.”

    “We have long recognised that improvements in our performance, which a robust quality management system assures, are directly connected to quality service and customer satisfaction,” the company added.

  • Lagos has implemented CPS, says Ambode

    Lagos State has demonstrated its commitment to retirees’ welfare and pension by fully implementing the Pension Reform Act (PRA) 2004, as repealed by PRA 2014, Governor Akinwunmi Ambode has said.

    He spoke during an opening session of the training titled: “Preparing for life after retirement: Understanding the Contributory Pension Scheme” in Lagos.

    Ambode, represented by the Commissioner for Establishments, Training and Pensions, Dr. Akintola Benson, said the PRA 2014, which is domesticated in the Laws of Lagos State, were followed.

    He said prioritising pensioners’ welfare has both moral, economic, strategic, and social implications.

    ‘’On a moral pedestal, he said all persons of goodwill ought to pause and reiterate that it is morally reprehensible for any employer to neglect or refuse to plan and cater for the retirement benefits of its employees who gave the prime of their active years to the employing institution.

    ‘’Thankfully, this is an area where the Lagos State Government has continued to set an excellent example,’’ he added.

    He stressed that from a legal standpoint, the government, being the first state in the country to domesticate the Pension Reform Act, 2014, has also been the most notably compliant with its provisions.

    He said: “Additionally, and in the noted manner of this administration, the government has invested extensively in the education of the administrators of the pension regulations and in the sensitisation of the public officers, who stand to be most directly and immediately affected by the pension regulations embedded in the domesticated law.This is why this administration has been training and retraining all public servants and especially those who are nearing retirement on the implications of the laws and regulations relating to the Contributory Pension Scheme (CPS) to ensure that they adequately prepare for the future.

    The government, the governor said, against the background of challenges with the Defined Benefit Scheme (DBS), also adopted the new CPS, thereby becoming the first  in the country to kick off the new scheme, after signing the state Pension Reform Law 2007 and its eventual take off two year later.

    He said the objectives of the Pension Reform Law are aimed at assisting civil servants to save for their retirement, ensure that they get their terminal or retirement benefits promptly; and to establish rules for the administration and payment of retirement benefits in the public service of the state.

    Ambode said: “The law also established the group life policy for death benefits of employees, while in service, as well as the Retirement Bond for employees with past service benefits and the Redemption Fund from which the liability of the bond payment would be made. This administration is proud to state that its diligent pursuit of the above-outlined objectives has yielded fruits such that the pension obligations of the State are now managed to the satisfaction of the officers of the public service.

    “Furthermore, this administration has also ensured that the vision of LASPEC to provide first-class regulatory and supervisory services on pension matters to all stakeholders in the state public service is within reach while the mission to provide exceptional services on pension matters to employees in the state is faithfully fulfilled, year-on-year. It is, however, pertinent to note the practical implications of the CPS. First, it allows for the maintenance of a Retirement Savings Account (RSA) by each employee, which gives the workers’ responsibility over their retirement savings. Pensioners are no longer at the mercy of employers, and participants are assured of regular payment of retirement benefits.

    “Workers could choose how to allocate their retirement savings and diversify their investments over a range of investment instruments. It is also argued that personal accounts would provide workers a higher rate of return than can be paid under the Direct Benefit plan. This approach also affords participants an opportunity to pass wealth to survivors in the event of death. In addition, the RSA maintained by millions of workers tend to generate massive long-term funds, which are available for investment.  Owing to economies of scale, the cost of investing such funds tends to be relatively lower than if an individual worker were to undertake the investment on his or her own account.  Also, having a pension scheme that pays out benefits in the form of a life annuity affords workers with protection against longevity risk, by pooling mortality risk across others.

    “On a holistic note, the provisions of the law encourage labour market flexibility. The worker is free to move with his account as he or she moves to another place of employment and or residence.  In this way, it is an important tool for enabling workers and employers to adapt to changing circumstances especially in a global environment in which change is a constant aspect of social and economic life. The government stands to enjoy benefits under the law. The law will continue to stem further growth of pension obligations and provide a platform for addressing this liability. It will also impose fiscal discipline in the budgetary process because pension obligations would be accurately determined. Similarly, the health of the economy is always a major concern of the government.  Thus, aside from the law’s now-realised potential to promote national savings and by implication, economic growth, funded pension schemes have the capacity to promote capital market development.  Moreover, it is often argued that funded schemes have the capacity to promote economic reforms generally.

    He added: “Another area in which the economy stands to benefit from the law is through the scheme’s ability to support the overall macroeconomic policies of reform.  The last two decades have witnessed a growing support of the idea that enterprises are better run by private individuals and the role of government should be limited to providing a conducive regulatory and institutional framework that will enable the private sector to thrive. Many countries have adopted privatisation as an avenue for reform and have often employed similar laws to support the process. The CPS and its enabling legal regime will thus facilitate such reforms better than the prior arrangement.’’

  • Employers violating pension reform Act, says Wabba

    •’Ogun owes N100b pension contributions’

    The Federal Government and other employers in the country are violating the Pension Reform Act (PRA) 2014, the President, Nigeria Labour Congress (NLC), Ayuba Wabba has said.

    Wabba spoke during a pension session held by the House of Representatives Ad-Hoc Committee in Abuja.

    He said employers, including the Federal Government, are violating the Act by deducting pension contribution from employees’ salary and not remitting same to their pension managers.

    The PRA 2004 as repealed by the PRA 2014 states that an employer is under obligation to remit pension contributions to Pension Fund Custodians (PFCs) through Pension Fund Administrators (PFAs) within seven days after payment of salaries; otherwise, in addition to making the remittance, the employer shall be liable to a penalty which shall not be less than two per cent of the total contributions that remain unpaid for each month or part of each month that the default continues.

    The PRA 2014 revised the rate of pension contribution from 7.5 per cent contributed equally by the employer and employee under the old law, to eight per cent for the employee and 10 per cent for the employer; bringing the minimum total contributions for both parties to 18 per cent compared to 15 per cent previously. As contained in the 2004 legislation, an employer may choose to make the total mandatory contributions without making deductions from the salary of the employee; however, total remittance for any employer who chooses to remit without recourse to the employee must not be less than 20 per cent of the monthly emolument of the employee.

    Monthly emolument is defined to mean total emolument as contained in the employee’s contract of employment, but shall not be less than the total sum of basic salary, housing and transport allowance.

    Wabba urged the commission to take steps, including collecting interest where such situations are found.

    He said: ‘’About the issue of violation. Yes, there has been violations. But the violators are employers that deduct pension from their employee and don’t remit pension to their (PFAs).

    “In Ogun today, we have about N100 billion that has been deducted by the state government and not remitted to Pension Fund Administrator (PFA). So clearly, there is a violation of the provision of the pension Act. Any employer who is not remitting both employer or employee contribution is a violation and therefore we want a very stringent measure to be taken including taking of interest where such situations are found.

    Speaking on safety of the N8.63 trillion pension fund assets, he said: “I will like people to know that the pension funds belong to somebody who is a worker today who is expecting that the money should be invested carefully in business that will be yielding interest for them.

    “However, the National Pension Commission (PenCom) has the responsibility of protecting the trillions of naira that belongs to the pensioners. The commission must ensure that these funds are safe and remitted as and when due”, he added.

  • MDAs’ Retirement Savings Accounts hit N205.16b

    The total pension contributions by employees and employers remitted to the Retirement Savings Accounts of employees of Federal Government Treasury-Funded Ministries, Departments and Agencies (MDAs), from April 2017 to January 2019 is N205.16 billion, Acting Director-General, National Pension Commission (PenCom) Mrs Aisha Dahir-Umar has said.

    She made this known to lawmakers in Abuja at a parley on Annual Pension Operations of  Pension Fund Administrators.

    This includes collections from contributors and amount paid to retirees, from April 2017 till date.

    She noted that the figure does not include the contributions remitted by the Accountant- General of the Federation into the RSAs of MDAs under the Integrated Payment Personnel Platform (IPPIS) platform as well as the contributions of employees of self-funded agencies and the private sector, which are being remitted by this category of employers to their workers’ RSAs.

    On the total amount paid as retirement benefits to retirees under the CPS, from April 2017 to January 2019, she said the PFAs under the supervision of the Commission paid 53,661 retirees N147.61 billion as lumpsum and N2.05 billion as monthly pension.

    Dahir-Umar said PFAs had so far transferred N144.57 billion annuity premiums to insurance firms. Similarly, a total of N28.75 billion was paid as lumpsum to 26,927 retirees, who choose  annuity as their payment mode in retirement, while N1.53 billion is being paid to them as monthly pension.

    According to her, pension contributions for Treasury-funded MDAs’ workers were deducted at source by the Accountant-General of the Federation and remitted to the RSAs of Federal Government employees on the IPPIS Platform.

    She said: “On the other hand, pension contributions of employees of MDAs that are not yet on the IPPIS are paid by the Accountant-General of the Federation into the Contributory Pension Account maintained with the Central Bank of Nigeria (CBN) for onward remittance to the individual RSAs of employees.

    “Flowing from the foregoing, the total pension contributions employee and employer remitted to the Contributory Pension Account maintained with the CBN and subsequently transferred to the RSAs of employees of FGN Treasury-funded MDAs, from April 2017 to January, 2019, is N205.16 billion.

    “The transparent methodologies and processes provided by the CPS for the administration of pensions and for the investment of pension fund in critical sectors of the economy is necessary for national development. The achievements recorded by the commission in the implementation of the PRA 2004 to date are enormous.

    ‘’Indeed, due to its consistent exemplary performance as a regulator in the financial services industry, PenCom gained unprecedented public confidence and acceptability. Thus, within the short period of its existence and operations, it was able to birth and successfully nurture the pension industry that boasts of accumulated a pool of long-term pension assets worth about N8.63 trillion as at December 2018. About 60 per cent of the total pension assets belongs to the private sector. In addition, the industry has not recorded any case of fraud or mismanagement of pension fund assets;

    “Consistent with its track record of performance, the commission was able to record many feats within the current period of transitional management that commenced from April 2017 to date. These include growing the asset base from N6.42 in March 2017 to N8.63 as at December 2018; increased contributor registration from 7.6 million to 8.41 million RSA holders as at December 2018; introduction of the Multi-fund structure of pension fund investment; reduction of management fees; introduction of the Micro Pension Plan; and many other major feats,” she added.

  • Pension complaints and solutions

    BAWA: My name is Bawa. My retirement savings have not been paid by Premium Pension. This is my 15th month and I am yet to receive anything.

    PREMIUM PENSION: The member was paid lumpsum and arears since December 2018 and now he is on monthly programme withdrawal up to this month of February 2019.

    BAWA: I received monthly pension this year on February15 which I don’t understand. I have gone back to their office to find out but they didn’t give me a response until now. Can the company let me know if the money they paid on February 15 is for January or February?

    THE NATION: The Nation will intervene by sending your complaint to Pencom and Sigma Pension. Do watch out for the newspaper publication next Wednesday for a response from the PTAD and subsequently every week for pension news.

    OJI: Hello sir/ma, please my case is PenCom related. I retired from Nigeria Customs Service in 2015 on GL 08, but was paid off on GL 07. The reason is that I got promoted in 2014, but Customs failed to implement or effect the salary variation till September 2015, while I was to retire the next month so I was paid off on GL 07 instead of GL 08. Thus, I was heavily shortchanged and it is affecting my monthly pension. Please where do I go from here? My PFA is Sigma Pensions

    SIGMA PENSION: The client was contacted and advised to write to the Commission a letter of complaint for under payment stating his reasons, with supporting documents for a review. If we receive additional remittance from PenCom, he would be contacted.

    AYO: I am making enquiry about payment of my lumpsum having filled necessary documents some weeks ago with my PFA, Trustfund Pension. But the company is yet to respond. I retired since July 15, 2017 with much of harrowing experiences due to paucity of funds. Please, your positive and expedited actions will be appreciated. My children’s education has suffered much setback. Your quick intervention will be appreciated.

    TRUSTFUND: The customer was paid in 2018 and is currently enjoying pension. We called him and confirmed he is being paid.

    ALFRED: I am Alfred (ASP retd). My complaint is against Sigma Pensions for refusing to transfer my total savings to Police Pensions and Police Pensions refusing to collect my total savings from Sigma. I retired on October 1, 2017 after 35 years of  service. I have since been filling transfer forms from Sigma to police pensions since 2014 to date through police/police pensions to Sigma pensions and recently attached print out of total savings from Sigma pensions. My letters dated  January 9,2019,January9,2018, and others are relevant. Please l need your help as I am in pain. My colleagues have  collected their cheques. No response from Sigma and police pensions. Alfred

    THE NATION: The Nation will intervene by sending your complaint to Pencom and Sigma Pension. Do watch out for the newspaper publication next Wednesday for a response from the PTAD and subsequently every week for pension news.

    AMENKHIENAN: My name is Amenkhienan, I retired from the Nigeria Police on October  1,  2017. 0n February 20,2018, I submitted all documents to the Managing Director NPF Pensions Ltd Abuja through the PDO Asaba for further action. Our insurance unit has paid me but NPF Pensions has refused to pay me. I went to NPF Pensions Office Asaba. All those that retired after me have all been paid. Please I need your help.

    THE NATION: The Nation will intervene by sending your complaint to Pencom and NPF Pension. Do watch out for the newspaper publication next Wednesday for a response from the PTAD and subsequently every week for pension news.

    OWOLABI: My name is Owolabi, the son of late Supol Owolabi Sunday. I have an issue on the pension of my late father who passed away on March 13, 2015. We have paid the amount they asked us to pay for and we have also submitted all the necessary documents that they ask us to bring. But we have not received any massage about the pension. Please help us.

    THE NATION: The Nation will intervene by sending your complaint to PenCom. Do watch out for the newspaper publication next Wednesday for a response from the PTAD and subsequently every week for pension news.