Few days ago, I posted a topic on how a bank is frustrating my efforts to recover my late dad's money. Though I didn't mention the bank name, but it is UNION BANK, EKET.
After taking almost a month to open an estate account, they finally called on thursday to come and get account number and apply for funds tranfer. We applied and all documentation were made, now waiting to receive the money. Five minutes later a lady at the customer service by name Blessing called us that the money will rather be return to IBTC Pension where it came from and not transfered to estate account, claiming that after the death of a person their pension funds are being returned. We explain to them that the said pension was a contributory type and even IBTC Pension we approahed are willing to give us the balance pension how much more a bank. We approach the bank manager, shouted in the banking hall but all fell on deaf ears.

A Will or proper next of kin documentation would have solved this

We went and complain to IBTC Pension, they told us they have nothing to do with someone personal account that we should go to union bank and tell them to rather transfer the money to our estate account and that they were wondering why union bank want to return the money back to them (IBTC Pension). We returned to union bank informed them, but they remained adamant claiming Pension Managers will sue them.
They said they will prepare a draft to be sent to pension manager. The following day, we went to pension managers to inquire if they have receive the draft, but said no. They made calls to their office at Uyo and their response was that union bank should pay us. When going back to union bank, they said the draft will be send to Lagos. Before all these drama, an insider in the union bank told us that it would be hard for us to get the money, that that is how union bank used to forfeit death people's money.
So, our next step is to use legal means to get it and compel them to pay us for the damages.
ADVICE!

Pinkybush:
We went and complain to IBTC Pension, they told us they have nothing to do with someone personal account that we should go to union bank and tell them to rather transfer the money to our estate account and that they were wondering why union bank want to return the money back to them (IBTC Pension). We returned to union bank informed them, but they remained adamant claiming Pension Managers will sue them.
They said they will prepare a draft to be sent to pension manager. The following day, we went to pension managers to inquire if they have receive the draft, but said no. They made calls to their office at Uyo and their response was that union bank should pay us. When going back to union bank, they said the draft will be send to Lagos. Before all these drama, an insider in the union bank told us that it would be hard for us to get the money, that that is how union bank used to forfeit death people's money.
So, our next step is to use legal means to get it and compel them to pay us for the damages.
ADVICE!

Stress not yourself,locate Brekete on Google. Is a human rights radio programme in Abuja that solves cases like this.
The anchor person is Ahmed Isa,u can send him a mail via his website.

Go to Court

Dear OP

Go to the probate registry and apply for the letter of administration of your dad's estate if he did not leave any will.

You need the letter of administration to administer all his estate, the letter will also give you the locus standi to sue for the recovery of his pension fund.

Probate registry are in the high court premises of your state. Please involve the law to have the locus standi.

ibechris:





Stress not yourself,locate Brekete on Google. Is a human rights radio programme in Abuja that solves cases like this.
The anchor person is Ahmed Isa,u can send him a mail via his website.

Thanks bro! We will emplore all legal means to recover that money from those fraudsters.

Pension funds is different from funds in his accounts. The bank must make available to u , the funds in your dad's account with union bank. You have to treat this separately from pensions. Dont confuse yourself.

Union bank and stealing dead people's money are like 5&6

glogirl:
Pension funds is different from funds in his accounts. The bank must make available to u , the funds in your dad's account with union bank. You have to treat this separately from pensions. Dont confuse yourself.

My case is diff from those whose parents worked in government parastatals. My dad worked in a private company, so his pension funds will automatically be transfered to his next of kin who may double as the beneficiary. Wether it is pension funds or not it should be access by the beneficiary so long as it was a contributory pension and worked in a non governmental organization.
Why do pension managers is willing to pay the remaining balance in their custody and the bank refuse to release the one with them that was even coming from pension managers?

munchi:
Union bank and stealing dead people's money are like 5&6

I've been hearing that about them. They created vague rules to forfeit dead people's money. But I can assure them that they won't forfeit my own as they used to do others. We will follow them legally and at the end demand for damages, 'cos as it stand, we have spend over #50,000 already. They were even the one that directed us to go and get LOA. When we brought the LOA, they advice that we should open an estate account for them to transfer in the money, which we applied. But a lady by name blessing who is in charge of that area connived with the bank manager and other senior colleagues to take that money at the very minute to transfer the money to our estate account.

Okay, let me speak from a Banker's point of view and tell you the truth.
Please have u taken out time to find out how the contributory pension contribution works? Did your dad open a union bank account in HIS NAME, for his pension contributions to be going in there? You need to find out. To the best of my knowledge, pension contributions goes to the pension funds administrator, who can decide to bank it or invest it anyhow they want. If that is the case, you have absolutely no business with the bank, you just have business with Stanbic IBTC PFA. You were wrong from the beginning in going through union bank.

You also need to find out if you are even entitled to the funds in his PFA, and how the particular plan your dad subscribed to works. To the best of my knowledge, pension is contributed to carter for a person when he or she is retired, or looses the Job. It is lost at death, it doesn't go to beneficiaries, or next of kin, etc. Like I said, find out first from the PFA. Unless your dad opened an account with Union Bank, you have no business with them.

Pinkybush:
I've been hearing that about them. They created vague rules to forfeit dead people's money. But I can assure them that they won't forfeit my own as they used to do others. We will follow them legally and at the end demand for damages, 'cos as it stand, we have spend over #50,000 already. They were even the one that directed us to go and get LOA. When we brought the LOA, they advice that we should open an estate account for them to transfer in the money, which we applied. But a lady by name blessing who is in charge of that area connived with the bank manager and other senior colleagues to take that money at the very minute to transfer the money to our estate account.

Please follow it to the last .....plenty widows are poor because of that bank