psalmistkakah:

Good day, I love the way you are attending to this issue, please help me with this my dad retired six years ago, he was paid lump sum within a short period and have been paid monthly, I check his RSA balance the interest accrued is over 4 million I want to know if they will give it to him or the company will do otherwise because one guy working with insurance said they won't give him the interest that I should move it to annuity

Funkybabee:


Annuity ? Did ur father not first collect his % lumpsum when they paid is pay right before.. Stop pushing for what will not favor his children though they might promised u hell out of a hole but know something the day he died is the day ur money is gone and even if they want to pay his Nok self na what they wish they will give..
Thank u so much, I am asking not for my interest I am a married man and by God grace am not doing bad in my business at least I cough out N500,000 annually for house and my office rent so am not jobless I am asking cos I want the best for him and thank you for the advise






.

NwaAmaikpe:



The law is not definite on a case as that.

My advice,
Liaise with your PFA to give you documentary evidences of non-remittance to your RSA for the said period.

Get pay slip stumps with indications of such deductions.
Sue the Organization for matters bordering on fraudulent intent.

Phlegzy:
Simply write a letter to pencom stating all the details and your company name. Then follow up appropriately. They will be made to remit it plus interest. I know this because I'm in the industry.

babaskool:
Dear Mr cents,
1. Is your polytechnic a private run insituton or publicly owned. This information is important so as to work out your minimum rate of the contributions that had been made for you by virtue of the Pension Reform Act 2014.

2.Do you have any information as to whether your employers elected to bear the cost of both the employer and employees contributions.

3. Do you still have a copy of your contract of employment handy, the position of the law is that an application of pension contributions to the total emolument of the employees as indicated in the employees contract of employment. Your monthly emolument from your polytechnic is simply your total emoluments as stated in your contract of employment provided this amount is not lower than the sum of your basic salary, housing allowance and transport allowance.

4.Do you remember opening a retirement savings account with a pension fund administrator since you started work with your polytechnic.

5.The legal means available to you if your pension funds had been misappropriated, is that apart form suing your employers for the due sums, you can apply for the forfeiture of the assets of your employers to the federal government

Pls feel free to message me should you need further information about your pension rights

AS ELUYEFA
Barrister and Solicitor of the Supreme Court of Nigeria