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Nairaland Forum / Nairaland / General / Career / How Safe Is It To Have A Pension Plan In Nigeria? (14286 Views)
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Re: How Safe Is It To Have A Pension Plan In Nigeria? by paulojosh4grt: 10:46am On Jul 31, 2015 |
ok, it actually mk sense |
Re: How Safe Is It To Have A Pension Plan In Nigeria? by jibbish(m): 12:47pm On Jul 31, 2015 |
coolkaboom:If you are not notified monthly, aw do u know if they have paid or not. I will repeat again. The pension company takes the blame cos if you extract from A,you must also extract from B.its a law and must be monitored. |
Re: How Safe Is It To Have A Pension Plan In Nigeria? by dotna(m): 2:49pm On Jul 31, 2015 |
vitality22: Guarantee period is 10 years and if the annuitant is no more, the income will continue to be paid to the named next of kin and percentage of allocation as instructed by the annuitant prior to the purchase of the annuity. This will make sure the annuitant or next of kin get back initial purchase fund. Also if the annuitant is alive after 10 years, he or she will still be paid but the next of kin benefits will not apply |
Re: How Safe Is It To Have A Pension Plan In Nigeria? by dotna(m): 3:51pm On Jul 31, 2015 |
bookkeepers: By the Pension act, the annuitant cannot surrender because the fund has been calculated to ensure that income is received as long as he or she lives. It can only be transferred to another insurance company after seeking approval from PENCOM. The next of kin will continue to be paid exactly the amount for the remaining years the annuitant was meant to collect within the guaranteed period. If the next of kin insist on terminating or surrendering or collecting the full value or lump sum fund after the annuitant is no more, the value will be discounted according to the interest not earned as the fund will no longer be with the Insurance company, standard charges and fines will be applied. This is to encourage the next of kin to keep receiving the monthly income just as if the annuitant is still alive. Please always ask more questions to avoid sentimental or wrong information. |
Re: How Safe Is It To Have A Pension Plan In Nigeria? by CrazyMan(m): 5:23pm On Jul 31, 2015 |
Jamean:Lol my dear that's what they tell you on paper...on ground its a different ball game. Most next of kins have given up collecting their deceased parents pension as a result of the kind of stress this PFA's put people through. From telling you to bring one document or the other, to unnecessary delays...at the end of the day, you might even spend more than what you're even expecting to collect. That's if you even collect the money. |
Re: How Safe Is It To Have A Pension Plan In Nigeria? by nex(m): 12:59pm On Aug 03, 2015 |
Thank you very much for your comments and questions. All the information collated here will be shared with all parties concerned, including the PFAs themselves. Pensions are very important, and Nigerian workers must be made to know exactly what they are getting into from the very beginning. |
Re: How Safe Is It To Have A Pension Plan In Nigeria? by coolkaboom(m): 4:01pm On Aug 03, 2015 |
jibbish:why are u waiting to be notified..this is 2015. your PFA's website has a client interface where you can independently view, download and print your statements at will (even daily). information dey ur fingertips, you still dey find wetin no lost? Besides...simply sending an email to 'info@xyzpensions.com (any pfa)' will have your statement delivered to your box within minutes. |
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