yetunsbay:
check this out. New message.
No changes in RSA bal and yet to contact PFA thou.

Is it accrued right or death benefit. Stanbic messaged me that they just finished processing batches 88 & 89 death benefits

Winter12:

Is it accrued right or death benefit. Stanbic messaged me that they just finished processing batches 88 & 89 death benefits

Stanbic sha

Winter12:

They haven't paid me too. Stanbic ibtc batch 90 accrued death benefit.
When I message stanbic, they said they are reviewing my message that they will get back to me soon.
That's how they also did when I wanted to access the contributory. They said I can't access it , but later paid when I reported them to pencom

Access which contributory, please. Yours?

Also, please how did you report them to Pencom, did Pencom take up your case with them?

yetunsbay:
I think nothing like accrued right anymore since all outstanding death benefits are being paid en block. AR is a subset of DB.
That processing of a thing should be perculiar to Stanbic.

What does this mean, Accrued Right to be paid with death benefits at once?

livewithpurpose:


Access which contributory, please. Yours?

Also, please how did you report them to Pencom, did Pencom take up your case with them?

My late dad contributory. I wrote them a message , copy pencom , copy human rights and they answered with apology

Winter12:

My late dad contributory. I wrote them a message , copy pencom , copy human rights and they answered with apology

Please can you share the emails. I'll really appreciate because I think this PFA is applying delay tactics. Over 3 months and they haven't verified the documents I submitted

livewithpurpose:


Please can you share the emails. I'll really appreciate because I think this PFA is applying delay tactics. Over 3 months and they haven't verified the documents I submitted

on a norms,all docs submitted should have been fully verified before forwarding ur application to PenCom not to talk of placing u on batch.
What's happening here !

yetunsbay:
on a norms,all docs submitted should have been fully verified before forwarding ur application to PenCom not to talk of placing u on batch.
What's happening here !

As in I'm tired. Maybe I'm missing something. Reason I want to petition Pencom

livewithpurpose:


As in I'm tired. Maybe I'm missing something. Reason I want to petition Pencom

Please do, cos what they're doing to you is so unfair. I'm suspecting foul play sef. Check PENCOM website, they listed some contacts there. You can also reach them on Facebook

yetunsbay:
on a norms,all docs submitted should have been fully verified before forwarding ur application to PenCom not to talk of placing u on batch.
What's happening here !

Exactly!

Winter12:

My late dad contributory. I wrote them a message , copy pencom , copy human rights and they answered with apology

Please correct me if I'm wrong.

I think your late dad was already retired before he passed away, which means his account has already been reconciled before you applied for his contributory that's why you were able to access it and they paid you his Contributory?

Thefarmer3:


Please correct me if I'm wrong.

I think your late dad was already retired before he passed away, which means his account has already been reconciled before you applied for his contributory that's why you were able to access it and they paid you his Contributory?

Apt

I applied for the contributory pension to be paid. I was told PENCOM is yet to do reconciliation on the account. And for the other withdrawal, they said they still need accrued right or death benefit to be paid. They are basically using delay tactics.

frioslegend02:
I applied for the contributory pension to be paid. I was told PENCOM is yet to do reconciliation on the account. And for the other withdrawal, they said they still need accrued right or death benefit to be paid. They are basically using delay tactics.

That's how it's done. Nevertheless what's ur batch ?

Thefarmer3:


Please correct me if I'm wrong.

I think your late dad was already retired before he passed away, which means his account has already been reconciled before you applied for his contributory that's why you were able to access it and they paid you his Contributory?

Yes, he was retired

frioslegend02:
I applied for the contributory pension to be paid. I was told PENCOM is yet to do reconciliation on the account. And for the other withdrawal, they said they still need accrued right or death benefit to be paid. They are basically using delay tactics.

They will pay u, just make sure u always write your pfa

yetunsbay:
That's how it's done. Nevertheless what's ur batch ?

94

Latest knowledge- DB might also come in form of a refund to PenCom fr Contributions...not necessarily mean remittance fr them.

Kindly mk ur findings too.

yetunsbay:
Latest knowledge- DB might also come in form of a refund to PenCom fr Contributions...not necessarily mean remittance fr them.

Kindly mk ur findings too.

Please explain?

livewithpurpose:


Please explain?

I know of someone on batch 89 whom a refund of an amount fr Contributions was made back to Govt treasury (PenCom) fr his RSA instead of her expecting DB payment.

Now we're both confused sef,is that really the brouhaha....from placing you on batch and so on only to finally return part of ur funds to Govt in the end. Where is now the death benefits or should we even conclude Contributions= DB !

God's willing this week I'll personally seek for clarity fr my PFA.

[quote author=yetunsbay post=104086261]I
Nigeria and every avenue to get back what was supposed to be given . I guess they'll say that they overpaid the person which, is a lie

[quote author=Winter12 post=104094085][/quote]

I don't understand like what are they taking back ? Is it extra Govt remittance made after death of employee ?


Lemme ask this in general, Death benefits consists of ?

Death benefits consists of ?

yetunsbay:
I know of someone on batch 89 whom a refund of an amount fr Contributions was made back to Govt treasury (PenCom) fr his RSA instead of her expecting DB payment.

Now we're both confused sef,is that really the brouhaha....from placing you on batch and so on only to finally return part of ur funds to Govt in the end. Where is now the death benefits or should we even conclude Contributions= DB !

God's willing this week I'll personally seek for clarity fr my PFA.

I think I mentioned this earlier on.
There's a clause in the document my state secretariat gave me that posits that a certain part of the fund would be returned to the government.

It's possible this policy applies only to State civil servants. Do confirm from her and get back to me. I also want to be sure I'm not alone on this.

ChemicalReaction:

I think I mentioned this earlier on.
There's a clause in the document my state secretariat gave me that posits that a certain part of the fund would be returned to the government.

It's possible this policy applies only to State civil servants. Do confirm from her and get back to me. I also want to be sure I'm not alone on this.

she was FG employee

yetunsbay:
I know of someone on batch 89 whom a refund of an amount fr Contributions was made back to Govt treasury (PenCom) fr his RSA instead of her expecting DB payment.

Now we're both confused sef,is that really the brouhaha....from placing you on batch and so on only to finally return part of ur funds to Govt in the end. Where is now the death benefits or should we even conclude Contributions= DB !

God's willing this week I'll personally seek for clarity fr my PFA.

Yes sir, this is what I was trying to explain in one of my previous posts about "Reconciliation".

Reconciliation is done to ensure that RSA balance is the exact amount due to the deceased. Some have been overpaid(like the scenario you mentioned) while some underpaid. Even me, I'm expecting some deductions to be made from my dad's RSA so I won't be surprised whenever I get debit alerts because FG was still crediting his account till a year or thereabouts after his demise.

The month our application got to PENCOM was when FG stopped crediting his account and alerts ceased, but we've been receiving incremental quarterly statements, probably due to returns on Investments (ROI)

Whatever ROI that entered his account after his demise wouldn't be deducted(to the best of my knowledge sha).

But please, make efforts to seek clarifications from your PFA and kindly let us know whatever they explain. Thanks

yetunsbay:


I don't understand like what are they taking back ? Is it extra Govt remittance made after death of employee ?


Lemme ask this in general, Death benefits consists of ?

They will first take the extra remittance. The money was suppose to stop upon the demise of the retiree.
If you've accessed your late parent contributory before the payment of death benefits, u can still get his/her death benefits.
But if you've been paid both before withdrawals , most of what you'll see is withdrawals because the amount might have been what he/she should receive.
That's why they reconcile , to balance the new rsa balance to what the pension board calculated. It can be either deduction or addition

yetunsbay:
on a norms,all docs submitted should have been fully verified before forwarding ur application to PenCom not to talk of placing u on batch.
What's happening here !

Once pencom sees that your documents are genuine , they will place you on batch.
I went to pencom myself, before the application was batched . Stanbic didn't do anything. You have to go to ur pfa and frustrate their life on that one.
They even made mistake to the extent of not submitting full documents to pencom even what I showed them in pencom office ikeja . They now had to move my late dad batch

frioslegend02:
I applied for the contributory pension to be paid. I was told PENCOM is yet to do reconciliation on the account. And for the other withdrawal, they said they still need accrued right or death benefit to be paid. They are basically using delay tactics.

Let me paste the message that stanbic sent to my mum then.

Further to your mail below and our previous response to you, please be informed that your late husband is on Batch 90 and the account has been reconciled but the last accrued right paid for deceased is Batch 86. However, you may visit any of our pension offices close to you with all the required documents in the attached checklist to access the death benefit (fund currently in the account).

Once the accrued right is credited into the account, you will apply for it as additional death benefit.

yetunsbay:
she was FG employee

Maybe they've paid both death benefits and accrued right before the account was reconcilliated . This will lead to deduction from her side.
The moment they reconcile ur account, and you've always received funds after he/her demise, expect deduction during reconciliation

Thefarmer3:


Yes sir, this is what I was trying to explain in one of my previous posts about "Reconciliation".

Reconciliation is done to ensure that RSA balance is the exact amount due to the deceased. Some have been overpaid(like the scenario you mentioned) while some underpaid. Even me, I'm expecting some deductions to be made from my dad's RSA so I won't be surprised whenever I get debit alerts because FG was still crediting his account till a year or thereabouts after his demise.

The month our application got to PENCOM was when FG stopped crediting his account and alerts ceased, but we've been receiving incremental quarterly statements, probably due to returns on Investments (ROI)

Whatever ROI that entered his account after his demise wouldn't be deducted(to the best of my knowledge sha).

But please, make efforts to seek clarifications from your PFA and kindly let us know whatever they explain. Thanks

That means the deduction is basically Govt 10% contribution to employee RSA for retirement. So in this case after death of her mum the extra payment from above made might be what's deducted to my understanding but where is really the death benefits itself ?

Also,
1. What's latest regulation with respect to payment of life assurance. Into RSA or administrator's account ?

2. In the case being discussed,yeah she was batch 89 but on norms this segregation of Accrued Rights/ DB are meant to be paid.
Where are they I still don't get this...

3. What even constitutes DB

yetunsbay:
That means the deduction is basically Govt 10% contribution to employee RSA for retirement. So in this case after death of her mum the extra payment from above made might be what's deducted to my understanding but where is really the death benefits itself ?

Also,
1. What's latest regulation with respect to payment of life assurance. Into RSA or administrator's account ?

2. In the case being discussed,yeah she was batch 89 but on norms this segregation of Accrued Rights/ DB are meant to be paid.
Where are they I still don't get this...

3. What even constitutes DB

They are meant to receive such for the service they render the government before year 2004.
Anyone that started work starting from 2005 are not entitled to it