BRATISLAVA:


Is the gratuity separate from the pensions?

Who pays the gratuity?

Some people say that the first lump sum payment is the gratuity, from the pension managers, before they begin to pay monthly pensions. Educate us more, Emmanuel. I hope your posts will be read by viewers.

Gratuity is paid by the employer.

The employee contributes 7.5% of his monthly income to his retirement savings account, the employer another 7.5% to 10% every month. Making a total of between 15% to 17.5%.

So if you are given 25% of your pension contribution, it can also be called gratuity depending on the organization's policy.

emmanuelewumi:



Gratuity is paid by the employer.

The employee contributes 7.5% of his monthly income to his retirement savings account, the employer another 7.5% to 10% every month. Making a total of between 15% to 17.5%.

So if you are given 25% of your pension contribution, it can also be called gratuity depending on the organization's policy.

This means that every pensioner has been paid their gratuity.

Nice info. Thanks a lot.

If you could create an educative thread on this, it would be good. You mentioned me going to High Court... The staff there are rude, old and unforgiving, screaming and petulant. One cannot ask them questions and they will give answers. They always withhold one thing, until you are in their net and they can use it against you.

BRATISLAVA:


This means that every pensioner has been paid their gratuity.

Nice info. Thanks a lot.

If you could create an educative thread on this, it would be good. You mentioned me going to High Court... The staff there are rude, old and unforgiving, screaming and petulant. One cannot ask them questions and they will give answers. They always withhold one thing, until you are in their net and they can use it against you.

Depending on the Organization's policy.


As per court, you can deal with a lawyer who has experience in probate and estate related matters

That’s if they even give you a dime

BabaOwen:
No, they don't.

Write about it to the CBN, so far the deceased no owe dem any money.

Yes they do. And the Money would be credited to the government

bolaayenimo:
Nigerian banks are thieves. So if N1b was left in the account, they will received 10 per cent of it. For what?

Not Nigerian banks but Nigerian Government. The money goes to the Government

peacenaija:
Dear Nairalanders,

Trust we all keeping safe.

I really need clarification from bankers and experienced persons in the house. A friend of my lost her father recently and they have started receiving their father’s entitlement which was paid into the account domiciled with a Nigerian bank operated by the deceased.

However, my friend’s mum lost their dad’s ATM, so they reported to the bank with the death certificate and requested for a new ATM or the money moved to another account but the bank is now asking for a letter of Administration and they will take 10% of the money left in the deceased account.

My grouse is not the letter of administration but the 10% they are asking on another person’s entitlement. Is there any law backing this? How can we go about it because the money is a substantial amount?

I'd appreciate your advice and clarifications. Thanks

Nigerian banks are selfish and they are thieves milking everybody's accounts everyday. Anyways I am a financial consultant helping bank customers to sort their financial issues with their respective banks. Write a letter to the CBN have it sent to their office in Abuja by courier services if you are not living in Abuja, stating your issues to them. Make sure you include "the account no, name of account and the bank in question" as part of your subject. they wil definitely help you out....if you need further assistance kindly inbox me.

bolaayenimo:
Nigerian banks are thieves. So if N1b was left in the account, they will received 10 per cent of it. For what?

Make sure you have knowledge before commenting on any topic, so you don't inadvertently mislead others.

Banks retain no percentage on a deceased customer account.

The heirs are expected to obtain a Letter of Administration from a probate registry, then serve the Bank. They are entitled to everything in the account, as long as he isn't indebted to the Bank.

Thank you.

franugo:


Lol...ignorance is bliss indeed. That 10% ain't coming down for anything oga as its not bank's money but state's own

laws are made for man, not man for laws.
stop being a slave my dear.

seniormallam:
Very true, going to the state government pox,
Baba just thank God, some stingy father's won't even let you know they have account with such money then they'll now die suddenly, it's either one bank staff move the money or after 10years the money get moved to CBN.
Some men are stupid sha, how can you decide to dash government your life savings instead of disclosing your accounts to your wife or child even if they don't know the balance at least they have the number

This post would have made perfect sense but for the focus on men only.

Na only men get money for bank? How about women who work and keep all their money leaving it to the husband to singly fend for the family?

Kingnelson9:
laws are made for man, not man for laws.
stop being a slave my dear.

Slave Ke??what concerns slavery here? The truth remains that no bank will reduce that 10% without an instruction from the court to do so

franugo:


Slave Ke??what concerns slavery here? The truth remains that no bank will reduce that 10% without an instruction from the court to do so

now u knw what court can do ? i sugestd sueing the bank if meeting the manager is nt fruitful and u called it ignorance,next time read comments with deep meanings b4 replyin negatively:happy sunday

Kingnelson9:
now u knw what court can do ? i sugestd sueing the bank if meeting the manager is nt fruitful and u called it ignorance,next time read comments with deep meanings b4 replyin negatively:happy sunday

Oga what are you suing the bank for na D bank did not set the percentage, the govt did. Why will you sue the bank for something they have no control over? What will suing them achieve ??

saseremichael:
Hurray!!!
Nigeria is 60 Years old!
Celebrate the Diamond Jubilee with us!
Happy Independence Anniversary in advance.
www.instagram.com/vohnigeria

You are an idiot

psalmistkakah:
We just got letter of administration from a court within one month and we paid #25000, nothing like 10% to be paid either now or later..about presenting the remaining papers to the bank for final processing.

Was this Lagos state? and did that ₦25000 include your lawyers fees?