Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,150,643 members, 7,809,422 topics. Date: Friday, 26 April 2024 at 09:19 AM

I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! - Investment (2) - Nairaland

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)

(1) (2) (3) (4) (5) (6) (7) (8) (Reply) (Go Down)

Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by penzino(m): 5:35pm On Apr 26, 2019
Pinkybush:
Please I need urgent help! My dad used to be working in a company and had been contributing pension money during his service years thro' IBTC.

Unfortunately, he's late, but before he died he had been making withdrawals of the said pension after his service with the company. I approached the bank, but it appears the guy I met want to stop us from getting the money and corner to theirs. Please now that my dad is dead, are his children not entitle to this money since it was a contributory pension?

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:
Please I need urgent help! My dad used to be working in a company and had been contributing pension money during his service years thro' IBTC.

Unfortunately, he's late, but before he died he had been making withdrawals of the said pension after his service with the company. I approached the bank, but it appears the guy I met want to stop us from getting the money and corner to theirs. Please now that my dad is dead, are his children not entitle to this money since it was a contributory pension?

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:


It is not just your dad’s contribution. It is the contribution of your dad and his employer. You are not entitled to your dads pension.
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:
Even when it was my dad's contribution which is different from someone who workzoed in civil service?
. 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:
Please I need urgent help! My dad used to be working in a company and had been contributing pension money during his service years thro' IBTC.

Unfortunately, he's late, but before he died he had been making withdrawals of the said pension after his service with the company. I approached the bank, but it appears the guy I met want to stop us from getting the money and corner to theirs. Please now that my dad is dead, are his children not entitle to this money since it was a contributory pension?

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:
Please I need urgent help! My dad used to be working in a company and had been contributing pension money during his service years thro' IBTC.

Unfortunately, he's late, but before he died he had been making withdrawals of the said pension after his service with the company. I approached the bank, but it appears the guy I met want to stop us from getting the money and corner to theirs. Please now that my dad is dead, are his children not entitle to this money since it was a contributory pension? Call me: 08035063895 & 08178827380
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Boss13: 5:47pm On Apr 26, 2019
Pinkybush:
I am! I've done death certificate and approach the court for letter of administration, but it seems the guy I met in the bank want to stop me since ATM card has expired and needs to be renew.

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:
You are only entitled to your fathers gratuity (if he has not been paid). As for pension, you are not entitled to it. The bank has to return all pension paid to the acct after your fathers death back to the pension office

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:
I am! I've done death certificate and approach the court for letter of administration, but it seems the guy I met in the bank want to stop me since ATM card has expired and needs to be renew.
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:
Please I need urgent help! My dad used to be working in a company and had been contributing pension money during his service years thro' IBTC.

Unfortunately, he's late, but before he died he had been making withdrawals of the said pension after his service with the company. I approached the bank, but it appears the guy I met want to stop us from getting the money and corner to theirs. Please now that my dad is dead, are his children not entitle to this money since it was a contributory pension?
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

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:
Please I need urgent help! My dad used to be working in a company and had been contributing pension money during his service years thro' IBTC.

Unfortunately, he's late, but before he died he had been making withdrawals of the said pension after his service with the company. I approached the bank, but it appears the guy I met want to stop us from getting the money and corner to theirs. Please now that my dad is dead, are his children not entitle to this money since it was a contributory pension?
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:
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.
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:

I disagree!! As far as the father is late,next of kin is so so entitled to the contribution. And I am talking from experience.

I


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:
Please I need urgent help! My dad used to be working in a company and had been contributing pension money during his service years thro' IBTC.

Unfortunately, he's late, but before he died he had been making withdrawals of the said pension after his service with the company. I approached the bank, but it appears the guy I met want to stop us from getting the money and corner to theirs. Please now that my dad is dead, are his children not entitle to this money since it was a contributory pension?
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:
OP, let no one deceive you.
You are entitled to your dad's pension balance.

See below from IBTC website :
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:

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
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:
I like your respond, Some people smoke weed before commenting so its not his fault, you know what i mean
Infact I weak after seeing the comment.

(1) (2) (3) (4) (5) (6) (7) (8) (Reply)

China To Invest $250 Million On Ibadan Dry Port (photo) / How Tony Elumelu Made $123 Million In 3 Weeks (Transcorp Shares) / Digital Investment Limited Crashes In Lagos After Duping People

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 65
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.