The Nation Newspaper

Category: Pension

  • CPS: 442,000 retirees get N1.63 trillion in 15 years

    CPS: 442,000 retirees get N1.63 trillion in 15 years

    A total number of 442,000 retirees under the Contributory Pensiuon Scheme (CPS) received N1.63 trillion as a lump sum in annuity and programmed withdrawals from 2007 to 2023, the Chief Executive Office, Pension Fund Operators Association of Nigeria (PenOp), Oguche Agudah has said.

    Oguche who spoke with journalists in Lagos reiterated that the CPS has witnessed huge gains and reforms since its inception about 20 years ago.

    Read Also: PDP tasks FG on current hardship in Nigeria

    He stated that a total of N665.23 billion has been paid by Pension Fund Administrators (PFAs) to 111,708 applicants as a lump sum on life annuity in the second quarter, 2023.

    He said: “Similarly, the lump sum paid to retirees on programmed withdrawal stands at N964.239 billion as at Q2 ‘2023.

    “Approval of death benefits payment also rose to N356.32 billion as death benefits to the beneficiaries of 91,214 deceased employees were recorded since the scheme’s inception”, he noted.

  • Nigeria Fintech, Financial Inclusion Roundtable 2024 for April 26

    Nigeria Fintech, Financial Inclusion Roundtable 2024 for April 26

    The Nigeria Fintech & Financial Inclusion Roundtable 2024 is set to hold on Friday, April 26, 2024 in Lagos under the theme: “The Role of Fintech & Financial Inclusion in Citizen Empowerment and Economic Growth.”

    In a statement, the convener of the Roundtable, Prince Cookey, said the event would be a unique convergence of top executives and stakeholder groups from the banking, fintech, telecom, insurance, media community and the general public.

    Read Also; Japa: We Issued 2.1m passports In 2023 – Immigration

    Cookey, who is also the Publisher/Editor-in-Chief of Business Journal, listed the objectives/expectations from the Roundtable to include evaluation of the growth of fintechs in the Nigerian financial system in the past 10 years, analyse the marriage & dichotomy between banks and fintechs, explore the convergence of banking, telecom and insurance in terms of financial inclusion, evaluate the challenges of fintechs and financial inclusion in Nigeria and to project the future of the two financial concepts going forward.

    He added that The Nigeria Fintech & Financial Roundtable would be an annual event going forward.

  • PTAD: Resolving pensioners’ issues

    PTAD: Resolving pensioners’ issues

    OLUSOLA: My name is Sergeant Olusola Ojediran (rtd). I retired in 1994. I learned that PTAD has harmonised the pension allowances of the Inspector-General of Police (IGP), Deputy Inspectors-General of Police (DIG), and Assistant Inspectors-General of Police (AIG), but left out Commissioners of Police (CP) and rank and file, please what is the correct position on this? Thank you.

    PTAD: The Directorate is yet to receive any directive on the harmonisatio from the relevant authority.

    ADEWALE: Good Day, my name is Aladeokin, a cyber cafe operator in Ado Ekiti, the Ekiti State capital. Many retirees come to my business for the ‘I AM Alive’ verification. While some are successful, others are not, even after  about five attempts (to take their picture) before it locked up.

    The finger verification is also not working. Kindly help me to know how to go about the finger verification. Thank you.

    PTAD: We have contacted Mr. Adewale directly.

    AKPAN: Good Day, my name is Akpan. I am one of the 2007 retired officers of Customs. We were under Customs, Immigration And Prison Pension Office (CIPPO) before PTAD took over.

    Before then, I was having arrears  of pension (from 2007 to 2009) with CIPPO as was paid to my colleagues of equivalent ranks of level 09 step 13.

    Also, my CONPASS arrears of gratuity amounting to N 1,582,182.36 was not paid to me as was paid to my colleagues. The arrears were prepared along with others and sent to AGF Office (Deputy Director Special Duties). Whose duty is it to pay the cash to our individual bank account?

    I have sent my complaints and the relevant documents to PTAD through their email since July, last year. Yet, no reply.

    Read Also; Japa: We Issued 2.1m passports In 2023 – Immigration

    Please, I need your help. Thank you.

    PTAD: Mr. Akpan Monday Sampson has been contacted. He is to send his bank statement for the period for the resolution of the complaint.

    CLIFFORD: My name is Clifford. I have no pension number. I would like to know if I qualify for pension at 60 in 2005.

    Please note that I worked at RBNL(UAC Division) 1975-1978 and SCOA Motors (1978-1988). I had thought I would travel abroad later.

    PTAD: UAC, SCOA Motors are private sector organisations. Mr. Fawehinmi should direct his question to the management of the two organisations.

    ADESIYAN: My name is Adesiyan. I am one of the federal pensioners from Osun State. My problem is that I have tried to confirm my ‘I’M ALIVE’ programme for more 10 times.

    The message bounces back as ‘Verification Failed and Faces do not Match’. What can I do to solve this problem?

    PTAD: Pensioner contacted and advised to locate a cyber café to do fingerprint option.

    TAUHID: My name is Tauhid. I am a State Pensioner with Federal share.

    I retired as a Director on Grade Level 16 Step 9 in May 2009 and was verified in Niger State in December 2017.

    I have made several attempts to visit PTAD office at Maitama, Abuja. I have sent many people to facilitate the payment of my federal share of gratuity.

    I wrote in The Nation of October 19, 2016 but all to no avail. I am still waiting. I have exercised patience and now I am a patient with two serious diseases. The Nation should help me so that PTAD can pay my PTAD’s Federal Share of Gratuity. Thank you.

    PTAD: Pensioner to provide details of MDA, verification slip and bank statement from December 2022 to date and has agreed to submit.

  • PTAD extends pensioners ‘I Am Alive’ confirmation deadline to Feb. 29

    PTAD extends pensioners ‘I Am Alive’ confirmation deadline to Feb. 29

    The Pension Transitional Arrangement Directorate (PTAD) has extended the deadline for Civil Service Pension Department (CSPD) pensioners using the “I Am Alive” confirmation by one month. It will now end on February 29. It was initially billed to end on January 29, this year. The Executive Secretary, Dr Chioma Ejikeme made this known in a statement.

    She urged the CSPD pensioners under the Defined Benefit Scheme (DBS) yet to confirm their aliveness to do so.

    She said the CSPD pensioners commenced the exercise on July 1, last year, with a six-month window within which they were expected to confirm that they were still alive and should continue to receive their monthly pension directly into their bank account.

    Read Also: PDP tasks FG on current hardship in Nigeria

    She noted that the extension would ensure that pensioners in this category participate in the exercise.

    Meanwhile, PTAD has forwarded the names of the affected pensioners to the state branches and zonal offices of the Nigeria Union of Pensioners (NUP) while letters and SMS notifications have been sent to the affected pensioners.

    With the extension, any CSPD pensioner who does not confirm aliveness will be dropped from the monthly pension payroll.

    She said they would, however, be restored once they confirm aliveness.

    She urged the pensioners to visit PTAD’s website, www.ptad.gov.ng, for the list of CSPD pensioners yet to confirm aliveness.

    “If your name is on the list, please click on this link https://iamalive.ptad.gov.ng/ to complete your “I Am Alive” confirmation, she added.

  • 2,104 CPS employees access N21.81b equity pension payments for residential mortgage

    2,104 CPS employees access N21.81b equity pension payments for residential mortgage

    • PenCom calls on more to own homes

    The National Pension Commission (PenCom) has called on employees under the Contributory Pension Scheme (CPS) to use their Retirement Savings Account (RSA) balances for paying  their equity contributions for residential mortgages to own homes.

    This is coming agaisnt the backdrop of the fact the commission records a total of 2,104 RSA holders or employees, accessing a substantial amount of N21.81 billion from their RSA balances to contribute towards residential mortgage equity payments.

     Its Director-General, Mrs. Aisha Dahir-Umar, who made the call, said many employees aspire to own homes before retiring, but the hurdle of providing equity for a mortgage often stands in their way.

    Recognising this challenge, Section 89 (2) of the PRA 2014 paved the way for RSA holders to own their homes while in active service, she noted.

    She said to simplify access for the employees, the commission introduced easy Guidelines to residential mortgages using retirement savings

    She said: “The Pension Reform Act 2014 (PRA 2014) has introduced a crucial innovation to enable pension contributors to utilise their Retirement Savings Account (RSA) balances for the payment of equity contributions for residential mortgages. The forward-thinking provision acknowledges the substantial housing deficit in Nigeria, particularly impacting the workforce. Many employees aspire to own homes before retiring, but the hurdle of providing equity for a mortgage often stands in their way. Section 89 (2) of the PRA 2014 paved the way for Retirement Savings Account (RSA) holders to own their homes while in active service.

    Read Also: PDP tasks FG on current hardship in Nigeria

    “In line with this provision, PenCom issued guidelines, outlining the processes for accessing up to a maximum of 25 per cent of RSA balances to facilitate equity contributions for residential mortgages. The implementation of PenCom’s Guidelines in 2023 played a pivotal role in enabling numerous workers to achieve their dream of homeownership,”she added.

    Eligibility and mortgage application

    The DG said: “While the Guidelines set out detailed eligibility criteria for RSA holders seeking to apply, it is important to state some key provisions. First, the RSA must have employer and employee’s mandatory contributions for a minimum cumulative period of 60 months prior to the application. 

     “Furthermore, RSA holders that have less than three years to retirement shall not be eligible to access their RSA balances for mortgage equity contribution. An RSA holder intending to apply must first secure an offer letter for the property from the owner or an approved agent.   

    “Subsequently, the applicant would approach a mortgage lender to complete an application form. The mortgage lender reviews the application and validates the authenticity of the property offer.

    “The mortgage lender, typically a commercial bank or a Primary Mortgage Bank licensed by the Central Bank of Nigeria (CBN), conducts due diligence to ensure the genuineness of the offer and the property valuation report. Once confirmed, an applicant approaches the Pension Fund Administrator (PFA) to request his RSA statement, seeking to access 25 per cent or less of the RSA balance for the equity contribution.

    “Subsequently, the PFA issues a duly endorsed RSA statement to the applicant, who forwards it to the mortgage lender. The mortgage lender verifies if the 25 per cent RSA balance is sufficient for the equity contribution. If acceptable, a mortgage offer letter is issued. Otherwise, if 25 per cent of the RSA balance is insufficient, the mortgage lender is required to request the payment of supplementary equity contribution from the applicant. Upon confirmation of the additional equity contribution payment and meeting other requirements, the mortgage lender shall offer a mortgage loan to the applicant.

    “Within two working days of issuing the mortgage offer letter, the mortgage lender sends copies of the letter, mortgage application form, and verified property offer letter to the applicant’s PFA. Additionally, the mortgage lender provides necessary information and evidence of payment where 25 per cent of RSA falls short,” she said.

    Equity contribution payment approval process

    Mrs. Dahir-Umar further stated that the applicant approaches the PFA for payment of the equity contribution by obtaining and completing an Application Form for 25 per cent of his RSA balance and providing an indemnity to the PFA.

    She explained that the PFA also computes and validates that the requested amount is not more than 25 per cent of the RSA balance while PFA forwards successful applications to PenCom within two working days.

    “PenCom reviews applications for compliance with the guidelines prior to granting approval. Applications that do not conform to the requirements are rejected and reasons communicated. Upon approval, the PFA issues a payment instruction to its Pension Fund Custodian (PFC) to remit the approved amount to the mortgage lender within two working days.

     Implementation challenges

    “Prospective applicants should note that strict adherence to PenCom’s guidelines is crucial to expediting the approval process. In the course of implementation, some issues were noted as described hereunder.

    “RSA funds accessed for equity contribution cannot be used for refinancing existing mortgages, purchase of non-developed land, outright property purchases, or building renovations.

    “Additionally, the use of RSA funds for acquiring mortgages for non-residential buildings is not permitted. 

     “Furthermore, if 25 per cent of an applicant’s RSA balance falls short of covering the equity contribution, the applicant is required to deposit the shortfall with the mortgage lender before accessing the 25 per cent from the RSA balance as equity contribution.

    “Regrettably, instances have arisen where applicants mistakenly paid the supplementary equity contribution directly to the property owner instead of depositing it with the mortgage lender, leading to application rejections.

    “RSA holders employed in organisations without defined retirement ages must submit attestation letters from their employers to their PFAs, confirming that they have more than three years until retirement, in accordance with the Guidelines. The commercial bank and Primary Mortgage Banks participating as mortgage lenders must ensure that they possess a valid Pension Clearance Certificate issued by PenCom for a smoother application.

     “The successful implementation of these Guidelines is an indication that the CPS has innovative provisions that address most concerns of the participants.The commission, however, remains dedicated to the effective regulation and supervision of Nigeria’s pension industry,” she added.

  • Pension complaints and solutions

    Pension complaints and solutions

    OLOSE: My name is Dr Olose. About N11million was withdrawn from my RSA account with Leadway Pensure and returned to PenCom at your office request, according to Leadway. At present, no remittances are made to my RSA account (from PenCom). Kindly help me.

    PENCOM: The complainant’s erroneous withdrawal is being processed.The PFA will contact the complainant once it is concluded.

    FAITH:  Good day, I want to lodge a complaint about data recapture. I have been trying to get my data captured with Leadway Pension but it is yet to be done since June 19. They just keep giving me excuses. Help me. Thank you.

    PENCOM: The complainant has been recaptured.

    MOJISOLA: My late wife, Mojisola, worked at the Ministry of Defense. Her PFA is Access Pension Limited, formerly Guarantee Pension Limited. The PFA asked me to give then a true certified copy of my Letter of Administration. They said I should go to court and get it done and, after that, that I would have to wait for 18 months.

    Please, help me. I am suffering because I spent all I have. Also, my late wife’s aged mother is there for me to take care of and I don’t want her to pass on without  taking  good care of her.

    PENCOM: The complainant wife’s death benefit has been paid; therefore, he should liaise with the wife’s  PFA

    Read Also; Japa: We Issued 2.1m passports In 2023 – Immigration

    EYEREGBA: I am Eyeregba. I am work at Cappa & D’Alberto, Lagos.

    I sent complaints via email to info@pencom.com.gov.ng on August 1, 2023 on my pension contributions for December 2021 and February 2022 not remitted to my account. I attached evidence of non-remittance in the mail.

    Please, I have not received any feedback after two weeks and my money is not yet recovered.

    My PFA is Stanbic IBTC Pension but I was formerly with FCMB Pension.

    PENCOM: The complainant did not attach relevant document that would enable the Commission to process his request.

    Therefore, there would be need to forward Complainant’s Name; Personal Identification Number (PIN); Pension Fund Administrator (PFA) Name; and Employer Name (if applicable).

    By providing these details will help us expedite the resolution.

    PRECIOUS: My name is Precious from Schutmann Nigeria Limited. My complaint is that we applied  for the Certificate of Compliance for 2019 to 2022. Our Employer Code is PR0000153777.

    I submitted the application on August 4, 2023. Since then, I have not heard from PenCom. I need your assistance for a speedy process.

    Thank you.    

    PENCOM:  Dear Sir, the documentation to process the certificate was incomplete. Kindly visit www.pencom.gov.ng to see the required documentation for processing of the Pension Clearance Certificate.

    MOHAMMED: Dear sir, we are the administrator of our late father, Mohammed’s estate. He worked at the Nigeria Immigration Service (NIS) from 1987 and was retired by the Presidential Taskforce in 2006.

    Since then, we have not collected one Kobo from either the National Pension Commission or NIS. We don’t know where to go or what to do. Help us.

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

    ANONYMOUS: 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 the staff member of the company refused to attend to me.

    He said my date of birth is different from the date of birth in Pen Com record.

    Meanwhile, I have November 23, 1964 in my records. What should I do?

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

    AMINU: My name is Aminu, I submitted my application of transfer for Annuity to ARM Pension Limited for over two weeks. But they have not attended to me.

    Kindly assist me.

    PENCOM: Dear Mr. Aminu your Pension Fund Administrator had already submitted your request for Retiree Life Annuity approval and the Commission has granted approval on 6 December, 2023.

    YUSUF: Good day, my is Yusuf.

    I am soliciting PenCom’s intervention to enable me access additional 25 per cent of my pension contribution. I worked with GTBank between 2006 and 2017. I accessed 25 per cent of my contribution in 2017 which was paid into my salary account that was in debit position owing to outstanding car loan. (I can present my acct statement if need be). I contacted my PFA, Stanbic IBTC, but they said such request doesn’t normally get approved. Kindly assist me.

    PENCOM: Dear Mr.Yusuf, please be advised that the 25% temporary access is a one-off payment. However, the RSA holder can access the balance in the year upon attainment of 50 years in line with Section 7 of the Pension Reform Act 2014.

    ANONYMOUS: Good day, I retired from FMC Markudi in 2020. But my monthly pension has not been paid. Kindly help me.

    PENCOM: Dear Sir/Madam, you are advised to approach your Pension Fund Administrator for further clarifications.

  • ‘Late SUNU founder set high corporate standards’

    ‘Late SUNU founder set high corporate standards’

    • •Positions Group to exist for life

    The founder and President, SUNU Group Mr. Pathe’ Dione, had set the highest corporate governance standard, it was  said.

    Dione, who passed away last year at 81, had envisioned a conglomerate that would thrive beyond his family and so he put in place a Trust Deed to manage the Group.

    To mark the first anniversary of the death of Mr. Dione, a day-long event was held across the countries.

    In Nigeria, a mass was held at the Catholic Chaplaincy Centre, College of Medicine and Lagos University Teaching Hospital, Idi Araba Lagos while a Koranic reading was held at the NTA Mosque, Alunadu Delio Way, Victoria Island, Lagos.

    Also, a film on his life and career was shown at the Ebony life Cinema, Victoria Island, Lagos.

    The company announced that a foundation would be set up in honour of its late founder.

    The Managing Director/CEO, SUNU Assurances Plc, Mr. Samuel Ogbodu, described the late Dione as an eminent player in the financial services sector, who devoted his life to the development of Africa by Africans and for Africans.

    He said the late founder lived his vision in the insurance and other financial services sector.

    Ogbodu confirmed that the founder put in place a trust where he put in people, including his children, that would run the company.

    He said: “The trust indicates that SUNU Group would continue to run for life. Even the children cannot take over the company. There is a trust deed already that manages the company.This is exceptional because most owner companies, especially those founded by individuals, die and crumble when the founder dies. But this will not be the case for SUNU Group.

    Read Also: ‘Businesses fail for lack of corporate governance standards’

    “Our late founder did marvellous things. For instance, he was able to establish the solo group which comprises several insurance companies, health insurance, banking and microfinance, among others. He was able to do this in 17 African countries. In totality, he established 34 companies in 17 African countries. It’s hard to find an individual to do this. He had done very well for our profession and humanity.

    “He employed many people, which trickle down to many families. He also developed human resources. The greatest asset of any nation can have are the human resources. He believed so much in training and development of staff. For me, I have gained a lot since I met him. He was an erudite person and we are all are grateful to him.”

    On how the company intends to keep his legacy alive, Ogbodu said a celebration would be held yearly for the late founder.

    Besides, he said a Pan-African Prize called the Pathe Dione Prize would be established in the countries where the SUNU Group is present.

    The Managing Director, SUNU Health, Dr. Patrick Chukwuemeka Korie, said Mr Dione was a great pan-Africanist.

    “He is a man who started off from financial services to health, hospitality services, estate and among others. All this were developed in Africa for Africans.

    “He has companies in 17 African countries and is still expanding in  Anglo and francophone. He believed we had the resources and he did put in effort and inspiration.

    “Today, the resources are here and we have a pan-African country, all from the fruit of his labour. He has left a path and we are striving to keep that path in the health services. He left a path for us to follow and it is, ‘Humanity is the Centre of our Ambition’.

    “So, what he is thinking of is the entire human race because he said humanity is a centre of his ambition,” he added.

    With a turnover of 234 billion FCFA (357 million euros) by the end of 2021 and more than 567 billion FCFA (865 million euros), the SUNU Group is the leading life insurer in the Inter-African Conference of Insurance Markets(CIMA).

    With 34 companies, including a bank, a microfinance company and a health management company, the SUNU Group is present in 17 French- and English-speaking sub-Saharan African countries: Benin, Burkina Faso, Cameroon, Central African Republic, Congo, Côte d’Ivoire, Gabon, Ghana, Guinea, Liberia, Mali, Mauritania, Niger, Nigeria, DRC, Senegal and Togo.

  • Arm Pension to merge with Access Pensions

    Arm Pension to merge with Access Pensions

    Access Holdings Plc has announced a major development in its ongoing growth strategy.

    Access Golf Nigeria Limited, a majority shareholder in Access Pensions Limited, a subsidiary of Access Holdings, has received the ‘no-objection’ of the National Pension Commission and the approval of the Federal Competition and Consumer Protection Commission (FCCPC) for its proposed acquisition of a majority equity stake in ARM Pensions Managers.

    According to the company, subject to the receipt of relevant regulatory approvals, it is intended that following the acquisition, the operations of ARM and Access Pensions will be merged to create Nigeria’s second largest Pension Fund Administrator (PFA) by Assets Under Management.

    Read Also: Access Pensions surpasses N1tr AUM milestone

    Group Chief Executive, Access Holdings, Dr. Herbert Wigwe, said: “We are pleased to have reached this transformative milestone in our pension fund administration journey.The proposed combination of ARM Pension with Access Pensions will not only create sustainable stakeholder value but will also contribute positively to the growth and development of the pension industry. We anticipate an exciting future for the combined entity.”

    On the transaction, the Group CEO of ARM Holding Company Limited, Jumoke Ogundare, said: “The market in which we operate is ripe for consolidation and I am confident that the proposed combination will create a formidable pension funds administration business leveraging Access Group’s expansive distribution network and innovation culture to deliver sustainable value to stakeholders.”

    “The completion of this transaction is contingent upon obtaining  requisite regulatory approvals. Access Holdings remains committed to keeping the market informed in line with its disclosure obligations.’’

  • PTAD: Resolving pensioners’ issues

    PTAD: Resolving pensioners’ issues

    CHIEF BAIYEGUN:  Hello, I am Chief Baiyegun, an Ondo State pensioner with federal share. I am in confusion that till date I have not received an alert for the federal share of my monthly pension for December 2023. It is quite unlike PTAD. Please, look into my case.

    PTAD: Chief Baiyegun was paid his December pension. He should check his bank.

    JOHN:  I have been receiving low pension. They still pay me the same pension as they have been short-paying me. I have just gotten the alert. Please help me.

    PTAD: The pensioner is on his correct monthly pension.

    Folagbade: My name is Folagbade Christopher. I am a state pensioner with Federal share. I have received my Federal monthly pension up to November 2023. But I have not been paid December 2023 while my collegues got theirs on December 25. Please help me. 

    PTAD: The pensioner received his December pension. He should check his bank.

    ADAMU: Dear Omobola, my name is Adamu, a Police pensioner, from C. R. S. I have not been paid since October, last year.  Please help me.

    PTAD: Pensioner Adamu was back on payroll in December 2023. His arrears will be paid.

    GIWA: My name is Giwa. I work at the Federal Ministry of Works and Housing from June 30, 1989 to September 30, 2002.

    I was verified by PTAD in December 2021 but up to date I have not received my gratuity and pension allowances.

    I earlier sent a complaint letter through my email dated July 10 and 13, 2023 to the Executive Secretary of PTAD with my information.

    On July 18, 2023, a reply to my email was sent to me that my complaint has been forwarded to the complaint unit but up till date, I have not received any payment. It is two years after verification with PTAD and 21 years after leaving service with the ministry.

    I am still struggling to receive my entitlement.

    Please, kindly use your good offices to intercede for me, to ensure that my gratuity and pension benefits are paid promptly. Thank you.

    PTAD: The pensioner should forward his verification slip or come for verification as the system keeps saying that he is not biometrically enrolled.

    MAXWELL: Dear Executive Secretary PTAD, I will like to inform you that I have written my complaint letter to you for the stoppage of my monthly pension since January 2021.

    Up till now, I have not received anything. I was paid my gratuity and pension arrears in December 2020. I have been waiting for it since I retired in January 2006 for 24 years. I will like to know what the problem is.

    Please, pay my arrears and pension from 2021 till date. The monthly pay is N16,000 and I am a State Federal pension share.

    PTAD: The pensioner is on an over-payment and until recovery is complete, he will not be put back on payroll.

    ADAJI: I would like to refer to the newspaper’s publication on Wednesday,  June 15, 2022 page 26 paragraph 4, which informed me that my gratuity had been computed for payment. Up till the time of writing I have not been paid.

    I am imploring the newspaper to request PTAD to do the needful on my gratuity.

    PTAD: Pensioner’s complaint is undergoing review and the outcome will be communicated to him in due course.

    SHAGOSHA: I wish to remind you of the death benefit of my late sister Patience, who until her death served in the Nigeria Police Force in Dutse Division, Jigawa State. I would be very grateful if my request is considered. Thank you.

    PTAD: The Next-of-Kin(NoKs) are to forward her Enlistment letter; Bank statement from January 2010 to date; and Declaration of age of NoK

    AYOOLA: Hello, my complaint is about the stoppage of monthly pension.        

    Read Also:    PTAD: Resolving pensioners’ issues   

    PTAD: Pensioner was in the employment of Local Government before March 31, 1976, and he is not eligible for Federal share of pension under the Directorate.

    SUNDAY: Good day, my name is Sunday from Cross River State. My father died since July 10, 2005 while in Police Service. He is the late Inspector Okimba.

    His last place of service is Akwa Ibom State.

    I went on to process his entitlement as his next of kin in 2015 at PTAD office Abuja where I was verified and captured with pensioner number. But up till date, I have not been paid. Kindly help me.

    PTAD: There was incomplete documentation at the time of verification. NOK is requested to come forward with these additional documents Enlistment form; Emolument form; Letter of Administration; ; Marriage Certificate; Introduction Letter from Last Command; Valid Means of Identification; NOK’s Birth Certification; and NOK’s BVN.

    ABDULLAHI: I am Abdullahi from Jos Plateau State. My father was a staff with Ministry of Defence, civilian units for 16 years before he died in 1995. I have attended various screening and verifications and the last one was in Jos in 2017. I have submitted all the required documents for the payment of gratuity and pension benefits as a Next of Kin (NOK), but up to no avail. In 2020 I was called from PTAD to submit some documents including bank account details which I did. From your publication of my case, PTAD is asking for is verification number which I scanned and sent since then. I hope Omobola will assist me.

    PTAD: NOK should provide deceased name and Bank statement.

  • No access to RSAs without data recapture, says PenCom

    No access to RSAs without data recapture, says PenCom

    The National Pension Commission (PenCom) has directed Retirement Savings Account (RSA) holders enrolled in the Contributory Pension Scheme (CPS) to participate in the ongoing Data Recapture Exercise (DRE) on or before July 1 or face the consequencies.

    PenCom Director-General, Mrs. Aisha Dahir-Umar in a statement, said the exercise, which is conducted by Pension Fund Administrators (PFAs), aligns with the industry’s commitment to enhancing the database of registered pension contributors and retirees.

    Last year, she said a total of 218,953 RSA holders were recaptured by the PFAs, noting that the exercise is important for maintaining up-to-date, comprehensive, and accurate data of RSA holders.

    She, however, said there were still many eligible RSA holders who are yet to be recaptured and are required to undergo the exercise.

    She noted that employees who opened RSAs from July 1, 2019 onwards were not required to be recaptured.

    Necessity of data recapture

    Explaining that the data recapture was introduced in July 2019, she said the Enhanced Contributor Registration System (ECRS) replaced the old Contributor Registration System (CRS), providing a seamless integration with the National Identity Management Commission’s (NIMC) database.

    She said: “It enables the verification of the uniqueness of individuals registered by PFAs under the CPS. A major challenge hitherto experienced with the CRS was that at the commencement of the CPS, biometrics of contributors was not captured during RSA registrations due to technological limitations. This challenge has been surmounted with the deployment of the ECRS, which is an in-house computer application developed exclusively by PenCom.’’

    Who should participate?

    According to her, participation in the recapture is mandatory for active employees and retirees, who opened their RSAs on or before July 1, 2019. Furthermore, RSA holders with multiple Personal Identification Numbers (PINs) must present their PINs during the process.

    Changes in name due to marriage, employer changes, or Next-of-Kin (NoK) alterations require completion of the data recapture process. It is crucial to note that failure to participate in the DRE affects RSA holders’ ability to update registration records in the future.”

    Implications for non-participation

    “Not participating in the DRE carries significant implications for accessing pension services from PFAs. For instance, only RSA holders who have completed their data recapture can transfer their RSAs from one Pension Fund Administrator (PFA) to another. Additionally, contributors who have not been recaptured will not be able to access retirement benefits upon retirement.  “Furthermore, access to 25 per cent of the RSA balance in cases of temporary job loss and access to RSA balance towards payment of equity contribution for residential mortgage are exclusively available to RSA holders who have completed the data recapture.

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    “RSA holders with multiple PINs who fail to recapture their data will experience delays in resolving their situations, potentially resulting in incorrect remittances by employers. This could also result in delayed payment of retirement benefits. Hence, it is in the best interest of RSA holders to participate in the recapture to ensure seamless access to services from PFAs”.

    Requirements for data recapture

    The DG further stated that an RSA holder must possess a NIN to be recaptured, in line with the Federal Government’s National Identity Policy. She said: “Active contributors must visit their PFAs and provide their Staff Identity Card or any valid means of identification, such as a National Driver’s License, Permanent Voter’s Card, or International Passport.   “Additionally, they should present their Enrolment Slip issued by NIMC and Birth Certificate or Sworn Affidavit of Age Declaration for the recapture. “Retirees under programmed withdrawal or annuity should provide any valid means of identification, the Enrolment Slip issued by NIMC, and the Letter of Retirement issued by their employer for the recapture.

    “For RSA holders who have changed their surnames or first names, or both, after registration, the following documents must be presented to their PFA for recapture: Marriage Certificate (if applicable), Newspaper publication for the change of name, and Sworn Affidavit and Confirmation Letter for change of name from the employer (if still employed). PFAs will issue acknowledgment slips to RSA holders upon submission of complete documentation, and notification of the status of their recapture will be sent via text messages within five working days.’’   Mrs. Dahir-Umar called on eligible RSA holders to approach their PFAs with their NINs, as well as other mandatory biodata information to enable their recapturing. PenCom remains committed to regulating and supervising the pension industry to ensure timely payment of retirement benefits, she added.