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Nairaland Forum / Nairaland / General / Investment / I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! (26987 Views)
(NEW Info)why Your Contributory Pension Scheme Will Disappoint You At Old Age / Union Bank Eket Branch Want To Forfeit My Dad Contributory Pension Funds. HELP! / Bankers/lawyers Help! I Am About To Loose My Dad's Investment (2) (3) (4)
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Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by penzino(m): 5:35pm On Apr 26, 2019 |
Pinkybush: Go to the court, 1. Get an affidavit for next of kin 2. get a probate letter or letter of administration(depends on the amount in the account/pension) 3. Take the probate letter or LOA to the bank. the bank will advice the court of the balance in the account or the LOA will show the amount with the pension admin 4. if its the probate letter, the account will be closed and a draft raised in favor of the court. the court will inform you when to come for the cash 5. if its LOA, the administrators on the LOA will have to open an ESTATE account and advice the pension administrators with the account number. Then the benefits can be paid Either by Probate letter or LOA. Your money will come out. Bank no fit chop that money, you may have met a novice at the desk u made enquires......... Pardon my English, na Engineering i study 42 Likes 11 Shares |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Nobody: 5:36pm On Apr 26, 2019 |
U have been collecting his pensions after death using his ATM that is a fraud na. Pension ends when u die. So bros be happy dem no nab u before d atm expired 9 Likes |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by he1845(m): 5:38pm On Apr 26, 2019 |
Does ur dad have a pfa or is he under the defined benefit scheme 1 Like |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by boladex1: 5:39pm On Apr 26, 2019 |
Pinkybush: since its contributory pension, i dentify the pension provider and approached them with death certificate and letter of administration from customarily court. if you can provide all the document they will release the money. the process might look tiring but its the law, follow it through. 5 Likes 1 Share |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by OyelSheik: 5:40pm On Apr 26, 2019 |
@OP this should not be a big deal if you have a letter of administration. Brief the lawyer who helped you with the letter of Administration, i am sure he can walk you through the process. Most contributory pension monies lie with a pension provider and not the bank....the pension provider merely made monthly remittances to your father's bank account. What you need to do is speak to the pension provider, inform them via letter of your father's demise and instruct them to stop remittances to the bank while you sort your claims out with them. Preferably have the letter written by the recognized next of kin. Get a honest lawyer involved. It's not that hard 8 Likes 2 Shares |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Famax(f): 5:41pm On Apr 26, 2019 |
sweetrace:Abeg, stop talking rubbish! 12 Likes 4 Shares |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Alashoalash10: 5:42pm On Apr 26, 2019 |
Pinkybush:. Approach the public complaints commission office in your state, they will help you out 1 Like 1 Share |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Ajaoogbo: 5:43pm On Apr 26, 2019 |
You don't have any problem. Also, you're entitled to the balance he has in the RSA account. Ensure you're speaking with the PFA and not the bank. Can you clearly explain what they told you? I repeat this, your money is safe. Worst case scenario is to report them to PENCOM but I believe you have not done the right thing. 5 Likes 1 Share |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Xisnin(m): 5:43pm On Apr 26, 2019 |
Nobody is trying to corner you. Go get a lawyer. 1 Like |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by sweetilicious(f): 5:43pm On Apr 26, 2019 |
That's why i advice my clients to withdraw from their pencom account and gratuities and invest in insurance with life cover.Just name your beneficiaries and you money will still stay with your family after you are gone.Future is uncertain but we have to do our best. 4 Likes |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by HajiMT: 5:43pm On Apr 26, 2019 |
You will surely get your father's entitlements under the Contributory Pension Scheme as you rightly posited. You however need to know that you have to put things in proper perspectives. It is obvious that the bank is aware that your father is late. Accordingly, you need to get a letter of administration and an estate account in place before you approach his Pension Fund Administrator to pay you (the next of kin) whatever balance he has left in his Retirement Savings Account. Please note that you can never be allowed to withdraw from a dead person's account under any guise. If you encounter any obstacle, please feel free to contact National Pension Commission. Thank you. Pinkybush: 7 Likes |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Gentlebabs(m): 5:46pm On Apr 26, 2019 |
Pinkybush: |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Boss13: 5:47pm On Apr 26, 2019 |
Pinkybush: This is nothing but poor communication. If the guy had explain to you properly the process involved, you won't be worried. Please go and see his superiors on this matter 2 Likes |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by SamMilla1(m): 5:51pm On Apr 26, 2019 |
omoguess: Say's who? So who is entitled to it? The should get PENCOM involved. If the money is in the banks, irrespective of the source, if it is not liened, they have a right to access it as the legally declared beneficiary. If the money is still with the PFA, they should ask PFA for it or ask his employer to help with the request. In fact if he died in active duty, they may be entitled to group life of 6* his gross emolument |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Nobody: 5:53pm On Apr 26, 2019 |
Go to their head office Pinkybush: |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Nobody: 5:55pm On Apr 26, 2019 |
Go to pencom office at GRA ikeja if you are in Lagos. Involve a lawyer if possible Pinkybush: |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Shikini: 6:01pm On Apr 26, 2019 |
OP, let no one deceive you. You are entitled to your dad's pension balance. See below from IBTC website : 7 Likes 3 Shares
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Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Laryne(m): 6:01pm On Apr 26, 2019 |
After all it is the money your dad worked for. Go and work for your own. His sweat was not in vain as you said he withdrew from the said account before he died. |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by nams77: 6:01pm On Apr 26, 2019 |
Pinkybush:I'm going to ask you certain questions to enable me give u guidance. Firstly those saying the money cannot come to his children are wrong. How long has your dad retired from active service. When did he die? Is the money in a pension fund administrator (stanbic IBTC or others) or it was transferred to an insurance firm? Provide answers to my questions above and I will explain what is supposed to be done in a scenario like this. Be strong dude. 2 Likes |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Issokay(f): 6:08pm On Apr 26, 2019 |
You will definitely get the funds. Please call 01-2716000 the contact center number for IBTC or send an email to Pensionsolution@stanbicibtc.com You can as well visit the IBTC office at Centage plaza ikeja, Elephant house Alausa Ikeja or head office 1678 Olakunle Bakare close off Sanusi Fafunwa VI Lagos. All the best! 4 Likes |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Beedude(m): 6:08pm On Apr 26, 2019 |
Laryne:So make another person chop his papa sweat cos he wanna work for his own money? Can't the father money be of help to anyone in the family? Don't lemme call u a bastard. If na crime the papa commit, it will still have an effect on the children so as na money the papa leave, no crime in the children making good use of it 4 Likes |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by younglawya(m): 6:11pm On Apr 26, 2019 |
Apply for a letter of administration from the court . When issued, the bank Has no choice but to pay his pension fund to his estate |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by omoguess: 6:11pm On Apr 26, 2019 |
dannybrasky: |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by superman1073: 6:15pm On Apr 26, 2019 |
Na waooo |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Jaqenhghar: 6:19pm On Apr 26, 2019 |
Pinkybush:So sad. Unfortunately you may not see that money. Cos the bank has all sorts of charges they will use to take that money from you. |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Jaqenhghar: 6:21pm On Apr 26, 2019 |
Shikini:Haba why you dey yalk like say no be naija you dey. How many written rules are obeyed 1 Like |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Nobody: 6:21pm On Apr 26, 2019 |
Beedude:I like your respond, Some people smoke weed before commenting so its not his fault, you know what i mean 1 Like |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Mpanyi: 6:23pm On Apr 26, 2019 |
You are entitled to the balance of the money in your father's retirement savings account. Nobody will eat your mpney. Stop panicking and looking for answers from people who will not help you. Look for IBTC pension office, not the bank, you will get better response. 4 Likes |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by balonaija(f): 6:24pm On Apr 26, 2019 |
that is how it goes...... |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Chimaokigwe: 6:24pm On Apr 26, 2019 |
Good thread. No tribal rants or insults. This is the Nairaland I knew 13 years ago before small children and mentally unstable persons joined. 7 Likes 2 Shares |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by DollyBig: 6:28pm On Apr 26, 2019 |
with your letters of administration you should access all the money in ur dad's bank account. Then follow up with the pension board for his death benefits |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Beedude(m): 6:28pm On Apr 26, 2019 |
uncle005:Infact I weak after seeing the comment. |
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