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Nairaland Forum / Nairaland / General / Investment / I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! (27488 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 Luizkid(m): 7:21pm On Apr 26, 2019 |
Pinkybush:This is not the right place to bring this up in the first place because I've seen so many misleading comments so far. If he's already on pension before demise, visit his PFA not the bank to process the balance in his RSA. Afterwards, approach the court for additional assets when the PFA might have stopped paying the pension to his bank and claim the balance in the account....QED 1 Like |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by dannybrasky(m): 7:22pm On Apr 26, 2019 |
It is normal for the pension company to frustrate a pensioner,talk more of his or her next of kin! In a situation where by there is no next of kin attached to the form being filled out by a pensioner which i have never heard of,then it is possible the pention company won't be giving out the cash. sweetrace: |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by kennyok(m): 7:23pm On Apr 26, 2019 |
Ist Get your dad documents relating to his services years and other Then try going through the documents to see who n who represents the next of kins Go to the bank to ask for acct details to the Saud bank With ur dad ibtc pension pin They will direct you to probate Registry high court And necessary documents to present The probate will issue you a Later asking the bank to allow u have access to d Said money.. And a copy will be seal n sent through you back to the probate dept.. With this Your journey has started The rest will be unveil to you as you progresses Goodluck |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by masqot(m): 7:24pm On Apr 26, 2019 |
Pinkybush:From few explanations above, your dad didn't write his WILL (which means he died INTESTATE). As such, you need LETTER OF ADMINISTRATION for you to be recognised under the REFORMED PENSION ACT 2014. Those are the conditions stated by the law. Pension and cash at bank are two different things but the Letter of Administration will grant you assess to whatever money your dad has "anywhere". My candid advice is that you should employ the service of a lawyer. Best of luck |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by munezo(m): 7:27pm On Apr 26, 2019 |
Pinkybush: Go and get a Lawyer for legal counsel ecause you will need a Letter of Administration from Court, to be able to access all your dad's benefits. |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by omoguess: 7:29pm On Apr 26, 2019 |
[quote author=Intrepid01 post=77881051] Please for the love of God stop spreading false [b]information. where did you hear or see that a man's Pension is returned to PENCOM at his demise? If you don't know something or[/b] aren t sure why don't you just refrain from making suggestions. You even said it is gratuity is entitled to, after death? Chaii na wa o[/quote It seems you are getting something wrong. Nobody is saying that all pension contributions are returned to pencom. Assuming his father started receiving pension January 2018 and died Feb 2019, what we are saying is that he will be entitled to the pension of Jan 2018 to Feb 2019, the pension of march and April that has already been paid into to acct will be returned by the bank to his fathers pension administrator. Don't ask me who told me or where I got the information from because i return pension fund at least once In week. My advice for him is that he should visit his fathers pension administrator to enquire whether they can pay him the money returned by the bank... Not a false rumor as you called it... |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by kinzd(m): 7:35pm On Apr 26, 2019 |
AleAirHub:Oga AIRHUB pls whats the service you went for back then? No vex oooh? |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by egojeny1(f): 7:36pm On Apr 26, 2019 |
Hmm really learning a lot here. 1 Like |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Intrepid01(m): 7:40pm On Apr 26, 2019 |
[quote author=omoguess post=77881627][/quote] Oga, you were not the one I quoted. pls check the comments of the person I quoted. Secondly, there is no where in the Op's write up where he mentioned that the sum in contention has to do with the part remitted to his Dad's account after his demise, so pls don't digress from the subject matter. From his account written up there, you can read it again, it has to do with his cummulated pension over the years. Thirdly, you said you return pension every week, are you saying when a person dies while in active service, his employer will continue to pay him? cos if a person doesn't earn salary at death, then he can't earn pension as well. What exactly are you saying, elucidate on this. 1 Like |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by phonemakemoney: 7:43pm On Apr 26, 2019 |
NwanyiAwkaetiti:Whom would you use as your next of kin ? |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by AleAirHub(m): 7:44pm On Apr 26, 2019 |
Point of sale device & I was turn down more than 7times by the useless female head of operations then. I had she been posted to Uyo branch now. quote author=kinzd post=77881774] Oga AIRHUB pls whats the service you went for back then? No vex oooh?[/quote] |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by pek(m): 7:47pm On Apr 26, 2019 |
kennyok:later? Na wa ooo |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Nobody: 7:48pm On Apr 26, 2019 |
phonemakemoney:For now its my sibling. Will change it once I got kids |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by WetinUGain: 7:49pm On Apr 26, 2019 |
[quote author=omoguess post=77881627][/quote] I believe u work in a bank..can u please share more light on how u return pension paid into an account and reverse to the pension company? |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by may320: 7:56pm On Apr 26, 2019 |
I thought its the PFA that should process the payment. What concerns bank here is what I don't know. |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Scandinavian02: 7:59pm On Apr 26, 2019 |
Nigerians always confusing Next of kin and Executors of an LoA. If your father died intestate(without a will), you need to get his death certificate and approach a court for an LoA, in that LoA, the Executors (you or/and your siblings) will be listed. Use the LoA and open an Estate account in the name of Estate of J.O.Clark(your father's name) while the Executors would be signatories. The LoA would contain all known accounts/pension of your father. The court would charge I think 10 or 20% of the bank balances. Once the account is opened, transfer all his balances to that account. Next of Kin simply means, In case of Emergency, who can we reach? I see a lot if educated Nigerians put the names of minors in this place. It is absolutely wrong 2 Likes |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by WetinUGain: 8:05pm On Apr 26, 2019 |
Pinkybush: U need to explain in details. Their is a pension paid every month,this is enjoyed only by retired civil servants and it is paid every month into their accounts and ceases once they are dead.The pension paid into a dead person's account can not be reversed but it will stop once d govt is aware of d death. Another pension is d contributory pension,mostly common with d private companies,this is a form of savings plan.This can only be accessed upon d retirement age of 60 or 65 (can't remember now) or certain percentage will be paid if u lose ur job (think 20%) and u must hv contributed for a certain yrs...This is not paid every month and can be accessed by a beneficiary... Wch did u fall into? |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Clefayomide: 8:06pm On Apr 26, 2019 |
sweetrace: Are you sure about this?, Because to my best of knowledge, every employees pension is normally removed out of his/her gratuity. for example, if an employees gratuity is let's say 15M, certain amount is being removed aside and being paid as pension bit by bit to the employee every month. So you saying it's the contribution of the dad and his employer, how please? |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Damoche10: 8:17pm On Apr 26, 2019 |
omoguess: He was referring to IBTC Pensions |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by ftosin: 8:19pm On Apr 26, 2019 |
Kindly visit any STANBICIBTC bank or pension office... Please call their customer care 012716000... Send a mail to pensionsolution@stanbicibtc.com for enquiry |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by phonemakemoney: 8:24pm On Apr 26, 2019 |
NwanyiAwkaetiti:So what is wrong if your husband uses his siblings and later changes it to his kids when he has kids? 2 Likes 1 Share |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Scandinavian02: 8:27pm On Apr 26, 2019 |
Clefayomide: Go and read the Pension Reform Act please. Pemsion is now contributory between Employer and Emoloyee. Dunno if it is stil 6.5% each. |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Ameboperoo(m): 8:29pm On Apr 26, 2019 |
Joromi12:Are you serious or you're just joking? Cos we did something like that when Dad passed away o |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Scandinavian02: 8:32pm On Apr 26, 2019 |
WetinUGain: Retirement age as per Pension Reform Act is 50. 25% is paid embloc on job loss. You can choose the anuity method or the programmed withdrawal method |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Laredojohn(m): 8:35pm On Apr 26, 2019 |
Pinkybush:Go to stanbic and request they print out the statement, go with his death certificate, go to the probate registry at any high court to start processing a letter of administration, that's the legal document to lay claim to any of his benefit |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by mfm04622: 8:40pm On Apr 26, 2019 |
Get a lawyer |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Nobody: 8:50pm On Apr 26, 2019 |
phonemakemoney:I ain't interested in this battle of d sexes OK. D woman cares for d home in d absence of the man so why ask silly questions? Still d fact remains that men toil for women and kids... It's not easy being a man. |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by sweetrace(f): 9:01pm On Apr 26, 2019 |
Clefayomide: This is how it works. You and your employer contribute certain amount every month. If you retire before you’re 50, you can take 25% of the contribution plus acrued interest. If you don’t take it and you retired by 50, you’ll be paid the 25% in bulk. The rest will be paid every month or quarterly based on your instruction for next maybe 18years. This is your pension. It is not paid in bulk and it is not transferable. |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by pappybarry(m): 9:10pm On Apr 26, 2019 |
zikoson:----------------------------------------------------------- Your comment is a blessing not only to the author of this post, but to those out there that want to learn how to deal with this kind of situations. |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by obstead200(m): 9:11pm On Apr 26, 2019 |
omoguess:I think u are wrong |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by obstead200(m): 9:15pm On Apr 26, 2019 |
dannybrasky:gbam! The next of kin is entitled to the balance on the pension account. The law is clear on that. Don't let pple confuse u, Mr op 1 Like |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Tony142: 9:15pm On Apr 26, 2019 |
Papertrail11: That is why I hate jobs, investment is better 1 Like |
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