The Nation Newspaper

Category: Pension

  • Pension complaints and solutions

    Pension complaints and solutions

    SANI: My name is Sani. I worked at the West African Postgraduate Medical College, Yaba, Lagos. We chose Leadway Pensure Pfa Limited at No. 121/123 Funsho Williams Avenue, Surulere, Lagos. My pension contributions employer/employee have been fully remitted to the Leadway.

    Also, my legacy has been fully remitted to the Leadway. I have retired since March 31, 2023 and have submitted the necessary documents for RSA and legacy to be paid to me since May 2023. Leadway told me that my documents were rejected because I did not put my pay slip. I sent the pay slip to them immediately. Since then, no payment has been made to me. Leadway’s response is that PenCom has not approved my documents for payment. Please, I want you to intervene so that my money can be paid. It has been six months that I have been at home without earning a salary. Thank you.          

    PENCOM: Dear Sir, please carry out the enrolment, and submit the Enrolment slip, you may wish to visit www.pencom.gov.ng for guidance on how to get enrolled.

    ANNONYMOUS: I am Oforlea. I retired on September 14, 2022. My date of birth is November 23, 1964 but it was wrongly captured in my NIN as November 23, 1965 which has been corrected. I later went for recapturing at Premium Pension but a staff  member of the company refused to attend to me. He said my date of birth was different from the date of birth in PenCom’s record. Meanwhile, I have November 23, 1964 in my records. What should I do?

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    PENCOM: Please send the complaint to info@pencom.gov.ng

    ANNONYMOUS: I have a problem with my pension. I am a Police officer.  My pension has not been paid into my pension account since 2017. I have been on this for the past three years by moving from one office to another but my effort proved abortive. Kindly help me.

    PENCOM: Kindly provide your name and PIN.

    INSPECTOR OSEZUA: Hello, my complaint is that I don’t know which pension I belong to. I was enlisted into the Nigeria Police Force on November 1, 2008. I was told by Fidelity Pensions and Trustfund Pensions that my savings had been transferred to PenCom. Till date, I don’t know which PFA I belong to, whether my savings is with PenCom or with Nigeria Police Pension NPF. Kindly assist me to know where I belong. Thank you.    

    PENCOM: Dear Sir, please visit your preferred Pension Fund Administrator among the two PFAs and undergo the Data Recapture Exercise.

    ONIPEDE: My name is Onipede and my PFA is Sigma, now Access Pension. After a series of letters to Sigma and PenCom for the refund of my contribution, I am yet to get it, even though that of my colleagues has been refunded. The last letter I received from PenCom was dated August 27, 2021. In the letter, it was stated that I will be contacted soon. When I got the letter, I was hopeful that I would be paid in a short time.  I want to know why I was abandoned and not communicated with till today.  And this was contrary to what was written in their letter which reference was stated in this complaint.  What is the cause of the delay? What am I to do and how will I be paid?

    ELDER LADIPO: Dear Omobola, my name is Ladipo. My PFA is Stanbic IBTC Pension. I retired in 2012. However, at the initial stage there was a new PFA that also sought my patronage which I neglected. The company has been merged with a bank that owns a PFA, FCMB Pension. For some years, PFA has been pestering me with what they assumed to be my RSA balance. I cannot have two PFA accounts. My main PFA is Stanbic IBTC Pension. Kindly advise me.Thank you.

    MUSTAPHA: My name Mustapha, I am a police officer. My PFA is Crusader Sterling Pension. I worked my transfer to Police Pension in 2017. In 2018, they sent me a text message that my transfer is successful. They, however, said I should go back and sort out issues on the certificate. I was asked to carry out the DRE exercise, which I have done since 2023 with the PFA. But, they have been tossing me up and down since then. At one point, they told me the problem was from PenCom, later they said it was from the zonal office. At another time they told me that the lady handling my issues was on maternity leave, among other excuses.  

      Please, I am tired. Help me to find out if the problem is from Crusader, PenCom or the Nigeria Police. The Nation is my last hope to get this problem sorted. Kindly help me.

    MEKA: Good day. I am Meka. It has been two months since I  received my pension from Premium Pension Limited. I have filled in a form with a bank statement. Kindly help me.

  • Base PFAs change on performance, says PenCom

    Base PFAs change on performance, says PenCom

    • ’RSA Transfer System revolutionising pension’

    The National Pension Commission (PenCom) has called on Retirement Savings Account (RSAs) holders seeking to change their Pension Fund Administrators (PFAs) through the RSA Transfer System to base their decision on their performance.

    Its Director-General, Mrs. Aisha Dahir-Umar, who made this call, said to enable RSAs take informed decisions, the commission has created a special section on the Commission’s website for that purpose.

    Also, she said to facilitate RSA holders’ ability to make good choices on service delivery, the Commission expanded its minimum disclosure requirements by providing more statistics on pension industry performance.

    Stating that the Commission’s website has adequate information of PFAs performance record, she said they have also developed the minimum information disclosure requirements to be adopted by PFAs to enhance the high-level of transparency required for the operation of the RSA Transfer System.

    The PenCom boss said the essential advancement in the Contributory Pension Scheme (CPS) came with the introduction of the RSA Transfer.

    She said: “This innovation allows RSA holders to move their accounts from one Pension Fund Administrator (PFA) to another using the Retirement Savings Account Transfer System (RTS) deployed by the National Pension Commission (PenCom). Section 13 of the Pension Reform Act 2014 (PRA 2024) allows RSA holders to transfer their accounts from one PFA to another not more than once a year. The commencement of the RSA transfers marks a significant achievement for PenCom in implementing the CPS.

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    “PenCom undertook the in-house development and consequent deployment of the Enhanced Contributor Registration System (ECRS) in June 2019, which made it possible to commence the RSA transfers.The ECRS enabled the unique identification of contributors registered on the Commission’s database, a critical requirement for smooth RSA transfers.The development of the RSA Transfer System (RTS) followed the ECRS. As the Application is tagged, the RTS is a unique and robust electronic platform that enables seamless RSA transfers. The Application is used for submitting, processing, and monitoring RSA transfer requests.”

     RSA Transfer Process

    The DG continued: “To initiate an RSA transfer, the RSA holder is not required to go to their Transferring PFA. Instead, the RSA holder should approach the PFA they intend to transfer to (Receiving PFA) and provide their RSA PIN, surname, telephone number and email address. The Receiving PFA will validate the biodata of the RSA holder requesting a transfer.

    “Thereafter, the RSA holder’s fingerprint will be captured to authenticate their identity as the final step to conclude the transfer request. The Receiving PFA prints two copies of a confirmation slip, which the RSA holder should sign as proof that they initiated the transfer; finally, the PFA retains a copy of the confirmation slip while a copy is given to the RSA holder.

    “RSA transfer requests received through the RTS are batched and processed at the end of every quarter, four times yearly (March, June, September, and December). However, only requests received  by the second month of a transfer quarter (February, May, August, and November) are processed within the quarter.

    “However, transfer requests received within the third month of a quarter are processed in the next quarter. After a successful RSA transfer, the RSA holder should advise their employer of the new PFA for subsequent remittance of their monthly pension contributions. The RSA holder should also contact their new PFA to ensure that the RSA balance transferred is accurate.”

    RSA transfer outlook

    “Activating the RSA transfer is expected to result in improved service delivery across the industry as PFAs engage in healthy competition by providing enhanced service offerings to benefit RSA holders.

    “The RSA Transfer has inbuilt controls that ensure only a legitimate RSA holder can initiate and transfer their RSA. One of the ways the controls are achieved is by verifying the RSA holder’s live fingerprint on the National Identity Management Commission (NIMC) database. Furthermore, there are administrative sanctions for infractions by PFAs, while PenCom monitors the process to ensure compliance.

    “Meanwhile, since the inception of the transfers, a significant number of RSA holders have transferred their RSAs from one PFA to another. For instance, in the last quarter of last year, a total of 21,498 RSA requests were submitted to PenCom by PFAs for RSA holders. Processed RSAs are transferred to their PFAs, along with their associated pension assets,” she added.

  • Pension complaints and solutions

    Pension complaints and solutions

    YAJI:  Good day, my name is Yaji. My complaint is about the delay of my late father benefits, Inspector Yaji. His PFA is Leadway Pensure Nigerian LTD. He died on July 16, 2013. We are yet to be paid his death benefits.   

    PENCOM:  Dear Sir, the request was returned to the Pension Fund Administrator because there was no Death Certificate attached, which is one of the requirements for processing death benefits. Kindly provide the death certificate to the PFA for resubmission of the request.

    ANNONYMOUS: Good day, my complaint has been made by one of my pension account officer on my behalf but I am yet to get update and it has been over three months now. How long does it take for merging?

    PENCOM: Dear Sir, Kindly provide the details of the two Retirement Savings Accounts you are trying to merge to enable the Commission process the complaint.

    ANNONYMOUS: Ma, I strongly need your help. We are leaving the country today and we need money for upkeep as we go. We are banking on my 25 per cent pension savings. PenCom is yet to approve. Kindly help us.

    PENCOM: Kindly provide the details of your Retirement Savings Account, the PIN and the PFA to enable the Commission process the complaint.

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    MOHAMMED: Dear sir, we are the administrator of our late father Mohammed. He worked with immigration service from 1987 and was down size during the presidential task force in 2006. Since then, we have not collected Kobo from National Pension Commission or Nigeria Immigration Service. We don’t know where to go or what to do sir. Help us out. Yours faithfully. Bawa

    PENCOM: Please provide the PFA and PIN number to enable the Commission investigate your complaint.

    SALIU: My name is Saliu, I understand it takes five working days for approval to come from you when a PFA forward application. I want to find out why it’s not so with my application. This is two weeks now according to Leadway Pension that my application has been sent to you. What is holding my application?

    PENCOM: Dear Mr. Saliu, kindly provide the name of your Pension Fund Administrator to enable the Commission process the complaint.

    ANNONYMOUS: I have a problem with my pension. I am a police officer.  My pension has not been paid into my pension account since 2017. I have been on this for the past three years now by moving from one office to another but all my effort prove abortive. Kindly help me.

    PENCOM: Kindly provide your name and PIN.

    ANNONYMOUS: Good Day, I am Omobulejo. I retired on August 15, 2020 at the Vintage Press Ltd in Lagos. I regularised my documents with my PFA, Stanbic IBTC confirmed in November 2021 and they confirmed it as okay. Since then, they send me messages to be patient. For how long will I be patient. I have no job at hand. Thank you.

    PENCOM: Please visit your PFA to resubmit your application.

    ANNONYMOUS: Good Day, I am Omobulejo. I retired on August 15, 2020 at the Vintage Press Ltd in Lagos. I regularised my documents with my PFA, Stanbic IBTC confirmed in November 2021 and they confirmed it as okay. Since then, they send me messages to be patient. For how long will I be patient. I have no job at hand. Thank you.

    PENCOM: Please visit your PFA to resubmit your application.

    ANNONYMOUS: l recently retired from one of the MDA’s. What do I do to get my benefits?

    PENCOM: Please visit your PFA and ensure that you have all the required documents, have undergone the enrolment exercise and data recapture exercise (if applicable). Your PFA will provide more information to you and guide you through the process.

    OLOWOYEYE: Good day, I wish to inform you that the Access PFA have responded to my calls. I am grateful for your intervention. Thanks a lot.

    THE NATION: The newspaper is excited that your complaint has been resolved.

    OBADARE: My name is Obadare. I am a retiree from Radio Nigeria. I did my PenCom verification in September 2022 but I am yet to be paid my pension. Kindly look into my case, thank you.

    PENCOM: Dear Obadare, kindly provide the name of your Pension Fund Administrator to enable the Commission process the complaint.

    MEFE: Good day, I requested for 25 per cent for months now and I have been waiting. Last month I was told to wait for Pencom approval but I have not gotten response  from Pencom. I have a huge debt to pay and this money is my only hope.

    PENCOM: Dear Mr. Mefe, the Pension Fund Administrator had already submitted 25% request for approval and the Commission has granted approval on 24 November, 2023.

    BALOGUN: Hello, my name is Balogun. My employer’s name is Amazuma Services Limited. I don’t know my pension company. Kindly help me.

    PENCOM: Dear Mr. Balogun, you are advised to approach your Pension Fund Administrator to make enquries.

    ASP. RTD. BOLARINWA: Dear Omobola, my name Is Bolarinwa Asp Rtd. I have voluntarily retired from service in September 2023. I was unable to get my discharge certificate due to my inability to offset my bank loan because I have to present non indebted letter to process it. I don’t know if I can withdraw out of my savings to offset It.

    PENCOM: Dear Mr. Bolarinwa, you are advised to approach your Pension Fund Administrator for further directives.

    ANNONYMOUS: Good day, I am from Maritime Academy of Nigeria, Oron. PDO : I can’t enrol and verify 2024 retirees on PENCOM Porter. What do I do.

  • FBS Re, Insurfeel Initiative gift 26 LASU students N66.30m insurance

    FBS Re, Insurfeel Initiative gift 26 LASU students N66.30m insurance

    Twenty-six students of  Lagos State University (LASU) are to benefit from N66.30 million insurance coverage donated to them by FBS Reinsurance Corporation, in conjunction with the Insurfeel Initiative.   

     At the ceremony, which took place at the LASU Main Campus in Ojo, Lagos State Monday,  the immediate past Dean, Faculty of Management Science,  Prof. Raheem Olasupo Akewusola and his successor, Prof. Akanji Rafiu Bankole, received free coverage.

    The donation, according to the Promoter of Insurfeel Initiative, Mr Chuks Udo Okonta, was aimed at assisting the students mitigate risks and deepen insurance penetration.

    Each student and their caregiver are entitled to N2.55 million coverage. A breakdown shows medical expenses for a student, N150,000; permanent disability benefit, N500,000; death benefit, N500,000; permanent disability for parents, N700,000; and death benefit for parents, N700,000.

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    Saying that his initiative, which adopts the Suya Strategy, whereby you taste the insurance before procuring it, is the best means of deepening insurance penetration, and education.

    He said the Insurfeel Initiative’s target is to donate one million insurance before the end of next year, imploring individuals, corporate organisations, associations, government entities; and groups, among others, to partner the initiative.

    Okonta reiterated that it is cheaper to embrace insurance than contribute money when the unexpected happens.

    He appreciated the management of the LASU, particularly, the immediate past Dean as well as the Head of Department of Insurance, Dr. Abbas, who were instrumental to the fruition of this donation, urging the students to take advantage of it and lodge genuine claims.

    This, he said, would test the policy to know whether the underwriter,  Universal Insurance, is able to honour its obligations.

    He commended the Managing Director, FBS Reinsurance Mr. Fola Daniel, for sponsoring the policy, imploring other organisations to follow its footstep.

     Akewusola said life is about risks and that students as well as their tutors were not exempted.

    The choice of LASU by the promoter of the initiative, he said, was understandable as LASU is the best state university in Nigeria. He added that the donation is not only a gift to humanity, adding that the students should be wary of the clauses that renders the policy useless, noting that the gesture was a statement to the benefiting students that the future of insurance industry and the country.

      Bankole, appreciated the benevolence of Insurfeel Initiative, applauding FBS Reinsurance for bankrolling most of the policies, promising to open further doors to the promoter of this initiative in future.

    Similarly, the President, Chartered Insurance Institute of Nigeria (CIIN), Mr. Edwin Igbiti, said since insurance is part of our lives knowingly or unknowingly, the insurance industry through this initiative, wants the students to start feeling insurance

    “Insurance is the catalyst that makes the economy and the economy has to be derisked, such that Insurance could have a place in national discourse. Awareness of insurance must be at the front-burner and this donation goes a long way to create awareness and re-orientate some people to discard old saying, that ‘Insurance Don’t Pay.’ With what I have seen so far, the future is bright, although you(students) need to secure it. Uncertainty can happen anytime, hence, this free policy is worth more than gold.”

    Explaining the package, the Head of Retail, Universal Insurance Plc, Mr. Tony Okafor, said the policy covers personal accidents, permanent disability and death, adding that, it equally has School Fees Protection Plan, whereby sponsors of the children were covered under the scheme, saying, whatever happens to the parents, either permanent disability or death, the insurer will take up the payment of school fees of their wards.

    Okafor, who represented the Managing Director/CEO of Universal Insurance Plc, Mr. Ben Ujuaatonu, called for further collaborations with the schools authorities and Insurfeel initiative to impact lives.

  • African Alliance pensioners lament unpaid anniuty

    African Alliance pensioners lament unpaid anniuty

    • NUP: be patient

    Pensioners who are under African Alliance Insurance have decried their unpaid March annuity.

    A pensioner, Gbadebo Olatokunbo, writing on behalf of his colleagues to The Nation, said: “My complaint and that of my co-pensioners against African Alliance is that our life annuity monthly income for  March is yet to be paid.

    “This started in February when they paid us on the 24th instead of 19th that they usually pay us. Since then, we have not seen anything. April payment is due in two days and we don’t know what will happen. We need our monthly annuity to survive. We are old and feeble  and are in retirement. We can no longer work.

    “The most painful part of it is that they are not responding to our calls. Even when we go to their office, they just tell us they will pay, yet we have not got any payment. We need help. We are calling on the National Pension Commission (PenCom) and the National Insurance Commission (NAICOM) to come to our rescue.

    Another pensioner, Ihekaire Cletus, confirmed that African Alliance Insurance (AAI) had not paid him for March and “when we call, they refuse to pick’’.

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    Elder Abiodun Odunsi, also a pensioner, with African Alliance, lamented: “I have not received my pension for March, which I receive between 19th or 20th monthly.’’

     He was at the Trade Fair Complex office of the company, but was directed to their headquarters at Ikoyi. He couldnt make the trip due to lack of cash, he bemoaned.

    But in a statement, the Nigeria Union of Pensioner Contributory Pension Scheme (NUPCPS) National Chairman, Comrade Sylva Nwaiwu, advised its members be calm, adding that it is making effort to resolve the matter.

    “We were at the Head office of African Alliance Insurance Company, Victoria Island Lagos on April 3, 2024 to know the major reason behind the continuous delay.’’

     He said the union leaders met the Head of Human Capital Management, Mr. Philip Ikhianosime.

    “He explained to us the frantic efforts African Alliance management was making to ensure that annuitants are paid.

    “He, therefore, apologised on behalf of the management team of the company and further promised that, the remaining annuitants will be paid on or before Tuesday next week. He also promised that annuitants with AAI will not experience such terrible disappointment by April,’’ he added.

    However, findings by the newspaper shows that so far, no pensioner has been paid.

  • PTAD: Resolving pensioners’ issues

    PTAD: Resolving pensioners’ issues

    ADESIYAN: My name is Adesiyan. I did my Pensioner Identity Verification on January 12, 2024, and the outcome was successful as I got a verification number.

      But to my surprise, I got another message instructing me to process my ‘I’m Alive’ again , which I did immediately.

     The verification outcome on January 31, 2024 was successful too with another verification number. Please note for your actions.

     The above two verifications were on fingerprint. Thank you.

    PTAD: Please, disregard any text message asking you to verify that you are still alive before the six-month period expires.

    ABUHl: Good day. I am still being short paid as at January 2024.

    Please, help me as you have been doing.

    PTAD: Pensioner is not reachable via phone.

    OLUJAFADE: My name is Olujafade. I retired 1986 on Grade Level 9 promoted to 10 and advanced to 12 because of my grade 1 academic and diploma University which I did successfully.

    Promotion from 9 to 12 was not implemented before retirement.

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    Kindly correct my arrears and pensions pay.

    PTAD: Pensioner is not reachable via phone.

    Paul: It is pertinent to note that  retired police officers in the PTAD were notified of “I AM ALIVE” programme through website last year. I was among those PTAD has text to do “I am Alive” confirmation in October, 2024. To this end I was mandated to do it on 20/10/2024. I got a text again to do my “I’m Alive” confirmation before February 10, 2024. When I contacted some of my colleagues to know whether PTAD had sent such information to them, they said no. With this, I became worried. I revisited the last “I’m ALIVE” confirmation website I did and I was informed that the last done on 20/10/2023 will expire on 20/4/2024. So, I want to know categorically from PTAD what is the time limit for the confirmation. Should it be done instead of someone or a member of the staff calling indiscriminately and sending text message.

    PTAD: Please disregard any text message asking you to verify that you are still alive before the six-month period expires.

    AKINMUSAYO: Good day, my complaint bothers on my father who retired 19 years ago. He is yet is be paid gratuity. His name is and he retired in May 2004 from the Ministry Defense.

    PTAD: Computed and audited

    ODUNTAN: Good day, I am sending this message on behalf of my dad. His pension monthly is over N51,000 but he was paid N37,000 for the month of October. We want to know what went wrong.

    PTAD: The Parastatals Pension Department (PaPD) of the Directorate will respond soon.           

    SGT BASSEY: I am Sgt Bassey, I have not received my pension for the month of October. Kindly help me.

    PTAD: The Police Pension Department (PPD) has represented all failed payment.

    ANNONYMOUS: Good day, I am one of the pensioners that did verification six months ago. I am surprised some people have done the second time. Please I am alive but up till now no message has sent to me for the second verification as others have done. Please advise me on what to do.

    PTAD: The pensioner is not reachable through phone.

    OWEI: Hello, I am a pensioner, NIPOST retiree precisely. I have been getting my stipend all the time but to my utmost surprise in October, 2023, I was short paid by N4000.

    PTAD: The Parastatals Pension Department (PAPD) to respond

    GODWIN: Good day, my name is Godwin. I withdrew from the force on 1/6/95 and I started enjoying pension from 26/2/2002 till September 2023.

    I have not been paid October and November 2023. I learned that I missed verification. Please I’m alive. Thanks for your prompt consideration.

    PTAD: The pensioner is not reachable through phone.

    ROSEMARIE: I am Rosemarie, my NTA pension from November till date has not been paid. The network has been inconsistent in my locality for months. Kindly help me.

    PTAD: The Parastatals Pension Department (PAPD) is currently working to resolve complaint

    TIMOTHY: My name is Timothy from Oyo State. I want to know what was used to compute my monthly pension since October 1993. I have been on federal share since 1993. Kindly save my poor situation.

    PTAD: The pensioner is not reachable through phone.

    CHUKWUDUBRM: Hello, my father Chukwudubem, a retired police man did not receive his money for October 2023. Please we need assistance from your good office. Thank you

    PTAD: The pensioner is not reachable through phone.

    ANONYMOUS:  Good day, I will like to know if my father is eligible for pension under Defined Benefit Scheme (DBS). He was appointed on July 3, 1989 and was removed on April 27, 1999.

    PTAD: No Name and Details Provided.

  • NAICOM mourns commissioner’s wife

    NAICOM mourns commissioner’s wife

    The insurance industry has been thrown into mourning following the announcement of the passing on of the wife of Commissioner for Insurance/Chief Executive, National Insurance Commission (NAICOM), Mr. Sunday Thomas.

    His wife, Mrs. Oyinade Thomas died on April 12, after a brief illness.

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    In a statement, NAICOM stated that Mrs. Oyinade Thomas was a pillar of strength, support, and a source of inspiration not just to her family, friends, and colleagues but to the industry.

    The statement read: “Throughout her life, Mrs. Thomas demonstrated exceptional dedication and commitment to the insurance industry as she stood side by side with her husband, the Commissioner for Insurance/Chief Executive, in his mission to ensure the growth and development of the insurance sector.

    “She recognised the vital role of insurance in providing financial security to individuals, businesses and communities.’’

  • Experts for fintech roundtable

    Experts for fintech roundtable

    Experts in the insurance and other financial service sector are set to evaluate the growth of fintechs in the past 10 years.

     Tagged the Nigeria Fintech & Financial Inclusion Roundtable 2024, the event holds on April 26, in Lagos. It has as its theme “The role of fintech & financial inclusion in citizen empowerment and economic growth.”

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     Group Chairman, Nigerian Exchange Group (NGX), Alhaji Umaru Kwairanga, would chair the event and while the Group Managing Director/CEO, Unified Payment Services Limited, Dr. Apochi Agada, would deliver the keynote address.

    In a statement, the convener of the roundtable, the Publisher/Editor-in-Chief, Business Journal Media Group, Prince Cookey, said the event would be a convergence of top executives and stakeholder groups from the banking, fintech, telecom, insurance, media community and the public.

  • NCRIB, Lasaco Assurance partner on better service

    NCRIB, Lasaco Assurance partner on better service

    Lasaco Assurance Plc has met with the Nigerian Council of Registered Insurance Brokers (NCRIB) to deliberate on how best to collaborate with brokers to serve her customers better.

    The insurance giant hosted the NCRIB President, Babatunde Oguntade, and his executive committee members during a visit.

    Managing Director, Lasaco Assurance, Razzaq Abiodun, expressed the hope that  continuous collaboration would be of much benefit to its customers.

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    Abiodun said though the economic situation posed a big challenge for insurance, he challenged insurance providers to come up with strategies on how they could survive.

    He advised practitioners to  evolve ways of protecting the interests of their customers by seeking improved productivity and customer satisfaction through collaboration and exchange of ideas that could enable them operate optimally and give consumers the needed satisfaction.

    Oguntade said his organisation chose Lasaco Assurance because of the company’s commitment to customer satisfaction and support for the council.

    CEO/Executive Secretary of the Council, Mr. Tope Adaramola promised a stronger relationship, collaboration, and partnership for better service delivery.

  • Pension complaints and solutions

    Pension complaints and solutions

    SALAMI: Kindly help me to resolve my contributions withdrawal from Stanbic IBTC Pension.

     Upon attaining age 50 in 2023, I  applied for withdrawal. After submitting the documents required, Stanbic IBTC told me that they were unable to proceed with my contribution calculation because my last employer, May & Baker, said I didn’t clear with them, following the termination of my appointment in 2013.

      All my explanations to IBTC fell on deaf ears. We have been on the matter since April, last year. My pension contribution was not from May&Baker alone. I see this as a ploy by IBTC to deny me my right to access my fund.

     Kindly assist me with a view to getting justice.

    PENCOM: Stanbic IBTC responded, stating that the RSA holder did not provide the pay slip to enable the processing of his request. Kindly, visit the PFA and submit the required document.

    BAHAGO: Good day. Please, I want to know if I can collect my remaining balance or loan of my pension. My monthly pension is below N8,500 and my total balance is also below N1million. I was asked to look fup to your reply in The Nation every Wednesday.

    I am in my village and I have no access the newspaper. What do I do? My PFA is ARM Pension. Thank you.

    PENCOM: Dear Mr. Bahago, please visit any branch of ARM Pension close to you to advise you on the options available to you on your request.

    KWAMI: Hello, my name is Kwami. I have not been receiving pension because Access Pension refused to transfer my contributions to AIICO Insurance to enable me purchase an annuity plan.

    I submitted my provisional agreement in January 2024 authorising access pension to transfer my savings to AIICO but they are yet to do so. What is going on with the company? What’s holding them back from sending my money to my company of choice for annuity?

    I will like to know if Access Pension has submitted my provisional agreement to PenCom and if PenCom has approved it? What’s delaying the transfer. Warm regards.

    UFOT: Good day, my name is Ufot. I wish to complain about my unpaid pension by my former employer of over three years.

    The name of my former employer is Caverton Helicopters Offshore Support Group with office at Murtala Mohammed International Airport, Ikeja.

    My PFA is ARM Pension. I have not yet retired as I am still under 60. Caverton Offshore Support Group put me on furlough and even before they put me on leave without pay, they had not been paying my pension contributions to my PFA for over three years. Yet, they were deducting my pension from my salary without adding their own before remitting to my pension administrator. I would appreciate it if you could compel them to pay my contributions for years as it runs into a couple of millions. If you require any form of proof, I can provide them. Thank you.

    ATOLAGBE: Good day. My name is Atolagbe. I retired on January 15, 2023 from the National Population Commision.

    I need your assistance on my contribution with Stanbic IBTC Pension.

    Since then, Stanbic IBTC has not called me for the payment of my pension and gratuity. They told me that PenCom had not yet reconciled my account.

    But, I need to pay my house rent and children school fees.

    URUA: Hello. My PFA is Stanbic IBTC. I retired from MOD in February 2023 and up till now, I have not been paid my gratuity or pension.

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    Life is tough with high cost of living. My children have stopped school because I have no money to pay their fees.

    When will I be paid my gratuity and pension?

    ALAWODE: Good day, I worked with Tantalizers Plc and I still work with Tantalizers franchise (Chi-Osa Plc). I used to get information on y account under Pal Pension but I lost the SIM card that I used to receive messages on my account.  When I contacted Pal Pension about my issues, their response to give a new number did not solve the issue. Before pension emerged, we registered with NSITF Scheme and I learnt people have been paid off.

    I want to process my payment too, if it is true. I have my certificate and documents that may be necessary. Kindly help me.

    DSP BASSEY: I am DSP Bassey. I am with ARM Pension. Must I be with NPF Pension?

    FATAI: I applied to my PFA, Stanbic IBTC for my benefit for more than a year.

    Since then, I have been receiving messages from them, thanking me for my patience and informing me that they are yet to get approval from PenCom. I want to sue. Am I to sue PenCom or LASPEC?

    THE NATION: The newspaper will intervene by sending your complaints to PenCom. Therefore, KWAMI, UFOT, ATOLAGBE, ATOLAGBE, URUA ,ALAWODE, DSP BASSEY: and FATAI should watch out for the pension page on Wednesdays for your response and subsequently every Wednesday for pension news.