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How Pension Managers Are Cheating Nigerians - Investment (30) - Nairaland

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Pension Managers Please Come In. / The Absurd Ways Pension Managers Cheat Nigerians part2. / I Want To Withdraw From My Pension Fund Account! (2) (3) (4)

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Re: How Pension Managers Are Cheating Nigerians by sanchiox1: 7:17am On Aug 09, 2022
Gentlebabs:
we need to talk: 08035063895

NLPC?

That retiree would have been frustrated for 5 hours if he or she chooses Life Annuity. These PFA is a scary one. They don't even send quarterly account statement.

*Yinmu*

1 Like

Re: How Pension Managers Are Cheating Nigerians by QuinModah(f): 9:54am On Aug 16, 2022
sanchiox1:


NLPC?

That retiree would have been frustrated for 5 hours if he or she chooses Life Annuity. These PFA is a scary one. They don't even send quarterly account statement.

*Yinmu*
They are the worst NLPC
Re: How Pension Managers Are Cheating Nigerians by Kalakazzy(m): 11:09am On Aug 17, 2022
How long does reconciliation of account take
Re: How Pension Managers Are Cheating Nigerians by sunnx(f): 12:02pm On Aug 19, 2022
Please how long does a backlogs is been paid into one's RSA account can someone answer o

1 Like

Re: How Pension Managers Are Cheating Nigerians by QuinModah(f): 10:45pm On Aug 19, 2022
sunnx:
Please how long does a backlogs is been paid into one's RSA account can someone answer o
Did you PFA wrote to your organization ? If no,they need to do that
Re: How Pension Managers Are Cheating Nigerians by sunnx(f): 10:17pm On Aug 20, 2022
QuinModah:
Did you PFA wrote to your organization ? If no,they need to do that

I don't think so.
Re: How Pension Managers Are Cheating Nigerians by sunnx(f): 11:09pm On Aug 20, 2022
QuinModah:
Did you PFA wrote to your organization ? If no,they need to do that

Please take time to read please......


Do you know what? When I left banking sector many years long I have a PFA with reasonable balance I tried maintain the PFA because of the huge balance as I gave it to my current Agency when issue of pension arises to start paying, I taught PFA is PFA in general but after a year of not receiving alerts from the PFA I gave my agency but seeing that the payment is on payslips, I consulted the PFA company I gave my agency, the prove beyond every reasonable doubt that they do not receive anything from my Agency that I should go and complain to my Agency, I went my Agency account office to complain my Agency brought a file saying I was one of those that have issue with my pension that I should go to LASPEC to complain that I do not receive my pension since it they started paying, getting to LASPEC they affirm that the issue is not in their side and besides the PFA I gave my Agency is not qualify to receive my pension in the state that I should go and open the one my colleagues are using and go back to my Agency to give them the newly opened PFA which I did with a written letter begging them to change my PFA to the new one and also pay all my backlogs into the new PFA but what they only did is that they indeed change the PFA to the new one but do not pay the back log, the month they change the PFA to the new one, I started receiving current pension without backlogs paid till date when I complain to the new PFA staff pursing the matter as he as said, he told me the backlogs is in the Accountant General office that they will pay it but till now that am typing this complain they haven't pay it, 3days ago I only received July pension without backlogs of a one whole full year. Still advice me on what to do please or should I continue writing letter to my Agency on the subject matter because I can't have a direct access to the Account General Office without my Agency involve or should I believe someone has eat the one year pension or backlogs because someone told me that the money will be somewhere hanging and rotating or showing indication on a system.
Please tell me what to do because the money reach 100+

1 Like

Re: How Pension Managers Are Cheating Nigerians by QuinModah(f): 2:45pm On Sep 05, 2022
Keep pushing
sunnx:


Please take time to read please......


Do you know what? When I left banking sector many years long I have a PFA with reasonable balance I tried maintain the PFA because of the huge balance as I gave it to my current Agency when issue of pension arises to start paying, I taught PFA is PFA in general but after a year of not receiving alerts from the PFA I gave my agency but seeing that the payment is on payslips, I consulted the PFA company I gave my agency, the prove beyond every reasonable doubt that they do not receive anything from my Agency that I should go and complain to my Agency, I went my Agency account office to complain my Agency brought a file saying I was one of those that have issue with my pension that I should go to LASPEC to complain that I do not receive my pension since it they started paying, getting to LASPEC they affirm that the issue is not in their side and besides the PFA I gave my Agency is not qualify to receive my pension in the state that I should go and open the one my colleagues are using and go back to my Agency to give them the newly opened PFA which I did with a written letter begging them to change my PFA to the new one and also pay all my backlogs into the new PFA but what they only did is that they indeed change the PFA to the new one but do not pay the back log, the month they change the PFA to the new one, I started receiving current pension without backlogs paid till date when I complain to the new PFA staff pursing the matter as he as said, he told me the backlogs is in the Accountant General office that they will pay it but till now that am typing this complain they haven't pay it, 3days ago I only received July pension without backlogs of a one whole full year. Still advice me on what to do please or should I continue writing letter to my Agency on the subject matter because I can't have a direct access to the Account General Office without my Agency involve or should I believe someone has eat the one year pension or backlogs because someone told me that the money will be somewhere hanging and rotating or showing indication on a system.
Please tell me what to do because the money reach 100+
Re: How Pension Managers Are Cheating Nigerians by Toniaife(f): 1:24pm On Jan 26, 2023
I beg wot batch pencom on death benefit .


Please I need an answer

1 Like

Re: How Pension Managers Are Cheating Nigerians by Justus30(m): 12:45pm On May 23, 2023
Hi guys, pencom told me yesterday that my dad's accrued rights for death benefit was paid last week, so the pfa confirmed it today when I called them, they said pencom still needs to reconcile the account.
I thought both accrued rights payment and reconciliation are done together, anyone who has the knowledge should please share.
Thanks.

1 Like

Re: How Pension Managers Are Cheating Nigerians by QuinModah(f): 8:45pm On May 23, 2023
Justus30:
Hi guys, pencom told me yesterday that my dad's accrued rights for death benefit was paid last week, so the pfa confirmed it today when I called them, they said pencom still needs to reconcile the account.
I thought both accrued rights payment and reconciliation are done together, anyone who has the knowledge should please share.
Thanks.
Follow up ASAP because they are very funny people (PFA)

1 Like

Re: How Pension Managers Are Cheating Nigerians by Toniaife(f): 12:37pm On May 31, 2023
I don't know why these Pension administrators are not kind.
They are really not good organisations.

NLPC have frustrated me.

1 Like

Re: How Pension Managers Are Cheating Nigerians by QuinModah(f): 3:01pm On Jul 02, 2023
Toniaife:
I don't know why these Pension administrators are not kind.
They are really not good organisations.

NLPC have frustrated me.


They are the worst.
Re: How Pension Managers Are Cheating Nigerians by Olamide8(m): 6:27pm On Aug 26, 2023
Good day guys.. Been over 1year and 5month since my mum retired and she as done all the needful at the stanbicIBTC so she can get her contribution but till now she's as not be contacted or paid anything... Please what did you advice

1 Like

Re: How Pension Managers Are Cheating Nigerians by QuinModah(f): 2:34am On Sep 09, 2023
Olamide8:
Good day guys.. Been over 1year and 5month since my mum retired and she as done all the needful at the stanbicIBTC so she can get her contribution but till now she's as not be contacted or paid anything... Please what did you advice
is annuity or program monthly payment. Kindly confirm
Re: How Pension Managers Are Cheating Nigerians by TokyoBulls(m): 9:17am On Sep 09, 2023
Very easy problem to solve. Do not talk to either the agency or the PFA any longer. Go to the nearest PENCOM office to report. They will ask you to write a simple letter right there in their office and dispatch the letter to Abuja. Few days later, PENCOM Abuja will call you to confirm receipt of your complaint and give you the complaint number that they have opened a case file and will update you as they progress. It will be resolved in few days or weeks. Every employer fears having to deal with PENCOM. You will not only collect your full remittance, all the accrued interests that you should have been earning would be added. I am speaking from experience, I have done it twice now. Their Lagos office is inside Ikeja GRA.

sunnx:


Please take time to read please......


Do you know what? When I left banking sector many years long I have a PFA with reasonable balance I tried maintain the PFA because of the huge balance as I gave it to my current Agency when issue of pension arises to start paying, I taught PFA is PFA in general but after a year of not receiving alerts from the PFA I gave my agency but seeing that the payment is on payslips, I consulted the PFA company I gave my agency, the prove beyond every reasonable doubt that they do not receive anything from my Agency that I should go and complain to my Agency, I went my Agency account office to complain my Agency brought a file saying I was one of those that have issue with my pension that I should go to LASPEC to complain that I do not receive my pension since it they started paying, getting to LASPEC they affirm that the issue is not in their side and besides the PFA I gave my Agency is not qualify to receive my pension in the state that I should go and open the one my colleagues are using and go back to my Agency to give them the newly opened PFA which I did with a written letter begging them to change my PFA to the new one and also pay all my backlogs into the new PFA but what they only did is that they indeed change the PFA to the new one but do not pay the back log, the month they change the PFA to the new one, I started receiving current pension without backlogs paid till date when I complain to the new PFA staff pursing the matter as he as said, he told me the backlogs is in the Accountant General office that they will pay it but till now that am typing this complain they haven't pay it, 3days ago I only received July pension without backlogs of a one whole full year. Still advice me on what to do please or should I continue writing letter to my Agency on the subject matter because I can't have a direct access to the Account General Office without my Agency involve or should I believe someone has eat the one year pension or backlogs because someone told me that the money will be somewhere hanging and rotating or showing indication on a system.
Please tell me what to do because the money reach 100+

1 Like

Re: How Pension Managers Are Cheating Nigerians by TokyoBulls(m): 9:27am On Sep 09, 2023
She should either go to the nearest Stanbic IBTC pension office or call her account manager. Each of us has one employee assigned to deal with matters like this. The retiree is supposed to start getting paid immediately. Maybe there are documents she needs to complete.
Olamide8:
Good day guys.. Been over 1year and 5month since my mum retired and she as done all the needful at the stanbicIBTC so she can get her contribution but till now she's as not be contacted or paid anything... Please what did you advice
Re: How Pension Managers Are Cheating Nigerians by FingerNails: 11:29am On Sep 10, 2023
TheMan3:
I know what this guy is talking about. When my dad passed away, Letter of administration took me 1 yr and six months to process. And thats just one of the documents. Its not funny at all. After submitted all the docunents with the PFA. I waited for about eight months no response. Whenever I go to the pfa they will say "be patient, these things take time".I went to Abuja myself to PENCOM. only to find out they did not submit my ddocuments to PENCOM all these while and they were even still collrcting monthly contributions from them employer "federal govt".

The PFA is ARM pensions, former First Alliance.

this is wild
Re: How Pension Managers Are Cheating Nigerians by QuinModah(f): 8:25pm On Oct 30, 2023
TokyoBulls:
Very easy problem to solve. Do not talk to either the agency or the PFA any longer. Go to the nearest PENCOM office to report. They will ask you to write a simple letter right there in their office and dispatch the letter to Abuja. Few days later, PENCOM Abuja will call you to confirm receipt of your complaint and give you the complaint number that they have opened a case file and will update you as they progress. It will be resolved in few days or weeks. Every employer fears having to deal with PENCOM. You will not only collect your full remittance, all the accrued interests that you should have been earning would be added. I am speaking from experience, I have done it twice now. Their Lagos office is inside Ikeja GRA.

You are smart
Re: How Pension Managers Are Cheating Nigerians by QuinModah(f): 8:26pm On Oct 30, 2023
shocked
TheMan3:
I know what this guy is talking about. When my dad passed away, Letter of administration took me 1 yr and six months to process. And thats just one of the documents. Its not funny at all. After submitted all the docunents with the PFA. I waited for about eight months no response. Whenever I go to the pfa they will say "be patient, these things take time".I went to Abuja myself to PENCOM. only to find out they did not submit my ddocuments to PENCOM all these while and they were even still collrcting monthly contributions from them employer "federal govt".

The PFA is ARM pensions, former First Alliance.

Re: How Pension Managers Are Cheating Nigerians by Godoverevery: 6:53pm On Apr 02
Winter12:


PENSION MANAGER INCOMPETENCE
I will like to report the incompetence of stanbic ibtc pension managers. I submitted an application of withdrawals of additional fund since 7 days ago, up till date, I haven't gotten an approval.
Furthermore, I know that it takes within 5 days for pencom to give approval. To this, I can say it's either stanbic is incompetence or they are delaying .


Please I need your help on how to get my late dad money from ibtc pension.

After the battle of getting LOA from court and all required documents it been 3 months now this people have refused to verify the LOA.

Please how do I copy pencom and report this wicked act.

1 Like

Re: How Pension Managers Are Cheating Nigerians by QuinModah(f): 3:48pm On Apr 03
Godoverevery:



Please I need your help on how to get my late dad money from ibtc pension.

After the battle of getting LOA from court and all required documents it been 3 months now this people have refused to verify the LOA.

Please how do I copy pencom and report this wicked act.
Get a lawyer

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