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How Pension Managers Are Cheating Nigerians - Investment (10) - Nairaland

Nairaland Forum / Nairaland / General / Investment / How Pension Managers Are Cheating Nigerians (83046 Views)

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 Thefarmer3: 2:17pm On Jul 20, 2020
Hi guys, so I was fortunate to have my call picked today and the man I spoke with made enquires on my behalf.

He said the last batch of DB they paid is 85 for contributory and 82 for accrued rights... Though I don't know the difference between the two, when I asked he didn't explain, he kept repeating it. I just thanked him and hung up....

2 Likes

Re: How Pension Managers Are Cheating Nigerians by Bosun99uk: 3:37pm On Jul 20, 2020
DB is Death Benefits, it's the entitlements of a deceased person that the employer transfers to the PFA for the deceased beneficiaries to access it.
Accrued Rights - is the entitlements of a government retiree under the old pension scheme that is transferred into their Retirement Savings Account (RSA) under the new pension scheme.
Regards
PensionNigeria

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Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 9:49pm On Jul 20, 2020
Thefarmer3:
Hi guys, so I was fortunate to have my call picked today and the man I spoke with made enquires on my behalf.

He said the last batch of DB they paid is 85 for contributory and 82 for accrued rights... Though I don't know the difference between the two, when I asked he didn't explain, he kept repeating it. I just thanked him and hung up....
Thanks man

1 Like

Re: How Pension Managers Are Cheating Nigerians by livewithpurpose: 8:31am On Jul 28, 2020
KevMitnick:

please i need your advise. My late dad's insurance broker was AIICO pensions and they claim that we have to pay 10% of the entire claim to the government, it that right? is that 10% deduction legal? if it's not, what can i do? I am very confused now. Where do I get the amount they are asking for? What can I do?

Ask them for the receipt showing remittance to the government. One of the insurance companies that paid my dad's group life insurance was AIICO and they never pulled this stunt.

2 Likes

Re: How Pension Managers Are Cheating Nigerians by livewithpurpose: 8:32am On Jul 28, 2020
Thefarmer3:
Hi guys, so I was fortunate to have my call picked today and the man I spoke with made enquires on my behalf.

He said the last batch of DB they paid is 85 for contributory and 82 for accrued rights... Though I don't know the difference between the two, when I asked he didn't explain, he kept repeating it. I just thanked him and hung up....
Oh wow! I'm batch 90. Fingers crossed then.
Re: How Pension Managers Are Cheating Nigerians by tesseract: 6:58pm On Aug 21, 2020
Please what is the difference between an enrollment order and the letter of administration?
Re: How Pension Managers Are Cheating Nigerians by bizzibodi(m): 3:40pm On Aug 27, 2020
Gentlebabs:
The Pension Fund Administrator (PFA), administers. The Pension Fund Custodian (PFC), warehouses the funds. All funds are duly monitored and by PENCOM and audited accordingly. See Section 7 of the Pension Reform Act of 2014.
Hmmmm!Grammer.
Re: How Pension Managers Are Cheating Nigerians by bizzibodi(m): 4:08pm On Aug 27, 2020
That is how d PFA my friend is using generate query that his DOB is not updated he tries to update it in d system for where,they said he will bring a letter from his employer,bring declaration of age,proofs of remittances,some other things I can't remember & summit to pencom....then another curious clause that said after submission d pencom has d decretion to honor or not all your submission.can U imagine.
They use all this obstacles to embezzle people hard earned money.what is there biz with someone d.o.b.?
Re: How Pension Managers Are Cheating Nigerians by bizzibodi(m): 4:20pm On Aug 27, 2020
motocamara:
So many beneficiaries of the Contributory Pension are deliberately underpaid, and if you don't make moves to get your ull benefit, some official might divert money that rightfully belongs to you. To find out if you have been underpaid as a beneficiary of the Contributory Pension Scheme, check the statement of account of the Retirement Savings Account to which you are the beneficiary under details. If your PFA refuses to give you your statement of account, contact us. 08100606316.

But if you are able to get hold of your statement of account, check for the amounts written for both Employer and Employee. If they are different, you have been underpaid. If you meet pension officials, some will use all sorts of strategies to see that you don't get the money- to deceive you. But not to worry. Just contact us on 0810 0606 316 (text messages only). We will help you recover your money in due course.

Be aware to prevent being cheated!
Let us know who U are 1st & what organisation U represents.
Re: How Pension Managers Are Cheating Nigerians by frioslegend02: 6:41pm On Sep 10, 2020
I called today, Accrued Right have been paid up to batch 85.

1 Like

Re: How Pension Managers Are Cheating Nigerians by livewithpurpose: 7:46am On Sep 12, 2020
frioslegend02:
I called today, Accrued Right have been paid up to batch 85.
That's good. But I heard it's 83 for death benefits

1 Like

Re: How Pension Managers Are Cheating Nigerians by thobbierulz: 11:05am On Sep 16, 2020
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Re: How Pension Managers Are Cheating Nigerians by Winter12: 11:07am On Sep 21, 2020
I just tried stanbic ibtc for my late fathers accrued right which was in batch 82, and the funny thing they told me was that they haven't received his payment from pencom

1 Like

Re: How Pension Managers Are Cheating Nigerians by livewithpurpose: 9:36am On Sep 22, 2020
Winter12:
I just tried stanbic ibtc for my late fathers accrued right which was in batch 82, and the funny thing they told me was that they haven't received his payment from pencom

When did your dad pass on and when did you start the process?
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 12:03pm On Sep 23, 2020
Winter12:
I just tried stanbic ibtc for my late fathers accrued right which was in batch 82, and the funny thing they told me was that they haven't received his payment from pencom
but Pencom don pay 82 naw
Re: How Pension Managers Are Cheating Nigerians by Winter12: 12:17pm On Sep 25, 2020
livewithpurpose:


When did your dad pass on and when did you start the process?


He passed in in March 2010 and I completed the processing in November 2018. We've actually gotten his contributory , but haven't gotten the accrued rights. He was placed on batch 82 and stanbic are telling me that they haven't received it. He worked with university of Jos till 2006

2 Likes

Re: How Pension Managers Are Cheating Nigerians by Winter12: 12:44pm On Sep 25, 2020
yetunsbay:
but Pencom don pay 82 naw

I just called again and pencom said that they haven't disbursed for batch 82. That I should have patient
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 5:30am On Sep 30, 2020
God help
Re: How Pension Managers Are Cheating Nigerians by SATANNIST: 6:23pm On Sep 30, 2020
please i need someone to clear me on something here. my aunt is expecting her pension from premium pensions. she worked with one of the federal ministries. i asked her if she opened any account online with premium pensions and she said no. i am asking this because i noticed premium pension has a site whre they ask cstomers to sign in. i hope someone is not planning to take her money.
Re: How Pension Managers Are Cheating Nigerians by PeaceIlya: 7:11pm On Sep 30, 2020
Winter12:



He passed in in March 2010 and I completed the processing in November 2018. We've actually gotten his contributory , but haven't gotten the accrued rights. He was placed on batch 82 and stanbic are telling me that they haven't received it. He worked with university of Jos till 2006
What? 8 Years for processing !!! Government workers are trying.
Re: How Pension Managers Are Cheating Nigerians by PeaceIlya: 7:13pm On Sep 30, 2020
Please my Mom worked with LASG and she retired in Jan 2018, up till date she has not received any pension.

How do I go about it?

Thank you in advance for your response.
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 9:07am On Oct 01, 2020
SATANNIST:
please i need someone to clear me on something here. my aunt is expecting her pension from premium pensions. she worked with one of the federal ministries. i asked her if she opened any account online with premium pensions and she said no. i am asking this because i noticed premium pension has a site whre they ask cstomers to sign in. i hope someone is not planning to take her money.
lol... we're in era of technology. She can monitor her Pension Fund online via her PFA site
Re: How Pension Managers Are Cheating Nigerians by SATANNIST: 10:25am On Oct 01, 2020
yetunsbay:
lol... we're in era of technology. She can monitor her Pension Fund online via her PFA site
she is using premium pensions
Re: How Pension Managers Are Cheating Nigerians by PeaceIlya: 6:37pm On Oct 01, 2020
Please help me o
Re: How Pension Managers Are Cheating Nigerians by PeaceIlya: 6:38pm On Oct 01, 2020
yetunsbay:
lol... we're in era of technology. She can monitor her Pension Fund online via her PFA site
which PFA site can I monitor my mom's pension
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 7:25pm On Oct 01, 2020
PeaceIlya:
which PFA site can I monitor my mom's pension
ur mum's
Re: How Pension Managers Are Cheating Nigerians by yetunsbay(m): 7:25pm On Oct 01, 2020
SATANNIST:
she is using premium pensions
check their site
Re: How Pension Managers Are Cheating Nigerians by Nicholasmecho: 9:04pm On Oct 01, 2020
Dear NIRALANDER I have been following this thread from beginning ........This is my little word of advice to some of my brother ,sister ,aunt ,uncle on this platform ....please beguarded don't let any one doped you by asking you to call them because they want to assist you ...we are here to learn and acquire knowledge if you have any issue relating to pension matter
Pls Note.....
1.... You have the right to contact NATIONAL PENSION COMMISSION if your PFA is not treating you well or you are not getting necessary information .just type National pension commision on google
2....Please if you don't have a WILL plan for it now, No matter how small amount you have in your bank account or your RSA balance ,death is inevitable don't wait until you clock 80 before you write your WILL, because when you pass on don't create unnecessary stress to your beneficiaries WILL superceed all other document in the court of all.

3.....If you have any issue with your PFA please don't hesitate to browse through there website ,these are the list of all PFA website in nigeria ,also some of this PFA are on social media...facebook,twitter,etc

AIICO Pension Managers Limited
MANAGING DIRECTOR:
EGUAREKHIDE LONGE


Plot 2, Oba Akran Avenue
Ikeja, Lagos

+234 1 2624667 +234 1 2625003 +234 1 2624174 (Fax)


elonge@aiicopension.com

info@aiicopension.com

http://www.aiicopension.com
APT Pension Fund Managers Limited
MANAGING DIRECTOR:
AL-MUJTABA ABUBAKAR GUMMI


Plot 266 Cadastral AO
Central Business District
Garki, Abuja

+234 8077090000, +234 9 4614400-29, +234 9 2340096 (Fax)


gummia@aptpensions.com

http://www.aptpensions.com
ARM Pension Managers Limited
MANAGING DIRECTOR:
WALE ODUTOLA


No. 5, Mekunwen Road
Off Oyinkan Drive
Ikoyi, Lagos

+234 1 2715005, +234 1 2692097, +234 1 7737432, +234 1 2715061


info@armpension.com

http://www.armpension.com
AXA Mansard Pension Limited
MANAGING DIRECTOR:
DAPO AKINSANYA


No 21B, Olosa Street
Victoria Island
Lagos

+234 1 4609780 – 9, +234 1 4619700 – 9


dapo.akisanya@axamansard.com
info@axamansardpensions.com

www.axamansardpensions.com
CrusaderSterling Pensions Limited
MANAGING DIRECTOR:
ADENIYI FALADE


No. 14, Keffi Street
South West Ikoyi, Lagos

+234 1 271 3800-4, +234 1 271 3813


info@crusaderpensions.com

http://www.crusaderpensions.com
FCMB Pensions Limited
MANAGING DIRECTOR:
MISBAHU YOLA


No. 207, Zakariya Maimalari Street
Cadastal AO
Central Business District, Abuja

+234 9 4613501-3, +234 9 6738002


info@fcmbpensions.com

www.fcmbpensions.com
Fidelity Pension Managers
MANAGING DIRECTOR:
AMAKA ANDY-AZIKE


2 Adeyemo Alakija Street
Victoria Island, Lagos

+234 1 4626963, +234 9 4626968/69, +234 9 6720547, +234 1 4626966 (Fax), +234 9 5239434 (Fax)


info@fidelitypensionmanagers.com

http://www.fidelitypensionmanagers.com
First Guarantee Pension Limited
MANAGING DIRECTOR:
WILSON NDIDI IDEVA


Adebola House, 3rd Floor
38/40, Opebi Road
Opebi- Ikeja
Lagos

+234 1 2715500, +234 1 274175-9, +234 1 2610366, +234 1 2613413


info@firstguaranteepension.com

http://www.firstguaranteepension.com
IEI-Anchor Pension Managers Limited
MANAGING DIRECTOR:
GLORY ETADUOVIE


No. 22, Otukpo Street
Off Gimbiya Street
Area 11
Garki, Abuja

+234 9 7831663 – 4, +234 8078450652, +234 8165722731


cservice@ieianchorpensions.com
glory.etaduovie@ieianchorpensions.com

http://www.ieianchorpensions.com
Investment One Pension Managers Limited
MANAGING DIRECTOR:
FRANCIS ILENIKHENA


Plot 871, Tafawa Balewa Way
Opposite NICON Luxury Hotel
Garki Area 11
Abuja

+234 9 2194381, +234 9 7802508


francis.ilekhena@investment-onepension.com
enquiries@investment-onepension.com

http://www.investment-onepensions.com
Leadway Pensure PFA Limited
MANAGING DIRECTOR:
ADERONKE ADEDEJI


121/123 Funsho Williams Avenue
Surulere, Lagos

+234 1 2800850, +234 1 2800900


info@leadway-pensure.com

http://www.pensure-nigeria.com
Nigerian University Pension Management Company (NUPEMCO)
MANAGING DIRECTOR:
OLUWAKEMI B. UGWU


Murjanatu House (First Floor)
Number 1, Zambezi Crescent, Off Aguiyi Ironsi Street
Maitama – Abuja

08082833355 08138475305


info@nupemco.com

www.nupemco.com
NLPC Pension Fund Administrators Limited
MANAGING DIRECTOR:
ADEWALE O. KOLAWOLE


Location: 312A,
Ikorodu Road, Anthony
Lagos

+234 1 2793580 – 2, +234 1 7610812, +234 1 2793583 (Fax)


info@nlpcpfa.com

http://www.nlpcpfa.com
NPF Pensions Limited
MANAGING DIRECTOR:
HAMZA SULE WURO BOKKI


Insurance Building
Behind Force Headquarters
Loius Edet House
Area 11
Garki – Abuja



info@npfpensions.com

www.npfpensions.com
OAK Pensions Limited
MANAGING DIRECTOR:
SAMUEL INYANG


266 Muritala Mohammed Way
Yaba, Lagos

+234 1 4616680, +234 1 4614704-5, +234 1 2627490-1, +234 1 2627492 (Fax)


info@oakpensions.com
sami@oakpensions.com

http://www.oakpensions.com
Pensions Alliance Limited
MANAGING DIRECTOR:
GODWIN ONORO


Plot 289 Ajose Adeogun Street,
Victoria Island, Lagos

+234 1 2667710, +234 1 2667177, +234 1 2662002


Godwin.onoro@palpensions.com

info@pensionsalliance.com

http://www.pensionsalliance.com
Premium Pension Limited
MANAGING DIRECTOR:
UMAR SANDA MAIRAMI


No. 4, Agwu Street
Off Faskari Crescent
Area 3
Garki – Abuja

+234 07029128221, +234 9 4615707-9, +234 9 4615700


usmairami@premiumpension.com
info@premiumpension.com

http://www.premiumpension.com
Radix Pension Managers Limited
MANAGING DIRECTOR:
KUNLE ADEBOYE


26 Adeola Hopewell Street
Victoria Island
Lagos

+234 1 2919687-9 09060001020


info@radixpension.com

http://www.radixpension.com
Sigma Pensions Limited
MANAGING DIRECTOR:
DAVE UDUANU


No. 29 Durban Street
Off Adetokunbo Ademola Crescent
Wuse II – Abuja

+234 9 5237787, +234 9 5237816, +234 9 5237787


info@sigmapensions.com

http://www.sigmapensions.com
Stanbic IBTC Pension Managers Limited
MANAGING DIRECTOR:
ERIC FAJEMISIN


Plot 1678, Olakunle Bakare Close
Victoria Island,
Lagos

+234 1 2716000


pensionsolution@stanbicibtc.com

http://www.stanbicibtcpension.com
Trustfund Pensions Limited
MANAGING DIRECTOR:
HELEN DA-SOUZA


Plot 820/821
Labour House
Behind Ministry Of Finance
Central Business District
Abuja

+234 9 6725777, +234 9 6725946, +234 9 2340112


enquiries@trustfundpensions.com

http://www.trustfundpensions.com
Veritas Glanvills Pensions Limited
MANAGING DIRECTOR:
GODSON UKPEVO


26 Commercial Avenue
Yaba, Lagos

+234 1 4627060, +234 1 4627067, +234 1 4627087 (Fax)


info@vgpensions.com

http://www.vgpensions.com

2 Likes

Re: How Pension Managers Are Cheating Nigerians by PeaceIlya: 10:06pm On Oct 01, 2020
yetunsbay:
ur mum's
Yes, she is retired and she can't even access it.
Re: How Pension Managers Are Cheating Nigerians by Winter12: 11:37pm On Oct 01, 2020
Go to her pfa with all her documents and meet with one of the top official. He/she will lead u through (just do the Nigeria tipping side)
PeaceIlya:
Yes, she is retired and she can't even access it.

1 Like

Re: How Pension Managers Are Cheating Nigerians by sammi21(m): 9:58am On Oct 02, 2020
I left my my late dad pension fund with fidelity pension since those people decided to stress the life out of me after i have provided all the documents needed including the letter of administration that took almost 1year to process...Only for them to come out with the excuse that the death certificate i presented to them wasnt valid...The same death cert i used to process the letter of administration and open an estate account oh.....Pension managers in Nigeria are all scam...u will only get ur money wen ur alive but ur next of kin wont be allowed access to ur funds...This is my own experience

1 Like

Re: How Pension Managers Are Cheating Nigerians by livewithpurpose: 7:56am On Oct 04, 2020
sammi21:
I left my my late dad pension fund with fidelity pension since those people decided to stress the life out of me after i have provided all the documents needed including the letter of administration that took almost 1year to process...Only for them to come out with the excuse that the death certificate i presented to them wasnt valid...The same death cert i used to process the letter of administration and open an estate account oh.....Pension managers in Nigeria are all scam...u will only get ur money wen ur alive but ur next of kin wont be allowed access to ur funds...This is my own experience

Report them to pencom.

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