₦airaland Forum

[quote author=Realwvn post=37376839]‎Your pension fund administrator (PFA) will take your questions and give you all the information you need to make the right choices as you prepare for life after work. Furthermore, here are 10 things you should know about your pensions before you retire. 

1. What’s the due date and payment mode?

If you choose to be paid monthly, your PFA will pay your money to your bank account on or before  the 24th day of each month. You don’t have to worry about cheques or any long process. Receiving your pension will be completely convenient for you.  

2. What happens in the event of death?

If one is on the Contributory Pension Scheme (CPS) and dies either in active service or after retirement, the next-of-kin as provided by the deceased to the PFA will be contacted to provide relevant documents for processing the contributions. The contributions will be paid to the named beneficiary in the WILL of the Letter of Administration. 

3. Can you change your next of kin after you retire?

This can be done at anytime. The change of personal information form will ideally be found on the website of your PFA. Download the form, fill it and submit to your PFA for actioning. 

4. How much can you take at once when you retire?

As lumpsum, a retiree is entitled to an amount not less than 25% and not more than 50%. This amount is however dependent on the fact that the retiree is able to collect a monthly pensions of not less than 50% of his/her last salary (computed based on the housing, basic and transport) for a estimated period of atleast 18 years. 

5. How soon can you start getting your pension after you retire? 

The process of documentation actually starts six months before you retire. For FG employees they have to go for the Bond verification exercise organised by PENCOM. This exercise basically is to enable PENCOM consolidate their account and ensure their accrued rights are paid immediately they retire. For Private sector employees, your PFA has to confirm that all contributions due to you have been made. This process is called ‘consolidation of account’. After this is done, the process of actual payment should take about 3 weeks. 

6. Can you choose how you want to be paid?

The programmed withdrawal means you get to choose your payment interval by yourself. You can choose to be paid your pension monthly or quarterly depending on what you think works best for you. Your PFA will be crediting your bank account according to the plan you choose.

7. Can you take from your RSA before you retire?

Yes you can withdraw for your RSA before you retire if you are out of employment for four months and you’re unable to secure another employment. You will be given 25% of your RSA balance. After this 25% has been withdrawn for your RSA, the balance cannot be touched until retirement.

However, if you choose to make additional voluntary contributions (AVC) into your Retirement Savings Account (RSA) you are entitled to withdraw from your AVC any time before retirement (it is tax free if withdrawal is after 5 years). So if you’ve been putting some AVC in your retirement account or if you start now, you too can withdraw from that at any point before you retire.  

8. What happens to your balance after you withdraw your lump sum?

When you retire and take an initial lump sum from your RSA, the rest of the money will either be used to procure an annuity for you, or it will be used to fund a programmed withdrawal that pays you for an estimated lifespan of not less than 18 years…in real terms…for life.
A programmed withdrawal is a method by which the employee collects his retirement benefits in periodic sums spread throughout the length of an estimated life span.
An annuity is an income purchased from an approved life insurance company which provides monthly or quarterly income to the retiree during his/her lifetime but only the first 10 years are guaranteed meaning if the retiree dies AFTER 10 years, his/her beneficiaries get NOTHING.

9. Other than when you retire, when can you have access to your RSA?

There are special cases. For instance, if you retire before you’re 50 years old because of a mental or physical disability, your PFA will give you immediate access to your RSA. You can also claim 25% of your pensions if you lose your job and can’t get a new one within four months.

10. Should you move your pensions to an
insurance company when you retire? 

It is entirely your choice but you’re strongly advised to keep your pensions with your PFA. Your PFA manages your pensions while you work, they invest the pensions for you safely and they update you regularly about how your money is doing to help you prepare well for retirement. This proves that you can trust them to keep delivering even after you retire. Besides once you move from Programmed Withdrawals to Annuity, you CANNOT move back if you’re are not satisfied with the services they offer or the deal you got. So choose wisely and make n informed decision. Your future and that of your loved ones count on it



http://www.naijanewsrave.com/10-things-you-need-to-know-about-pension-in-nigeria/



[/quote. But Annuity is by far better dan pension so I'll advice all those who are retiring or have already, to transfer to Annuity. Applicable 2 federal govt retirees. Any one who is interested, or u have anyone who has retired for 5 to 8 years, contact me on whatsapp trough dis no 07039644374 cause this particular set needs help before they complete 10yrs of retirement.

dpedro1:
[img]http://3.bp..com/-pEsBlS14tZI/VT3xFz2GbhI/AAAAAAAFD9g/pAzuWN1CqW4/s1600/4.jpg[/img]

SP Shuaibu Babba and Rukaiya Hamco's wedding took place yesterday in Kano , the groom's dad is a big businessman in the North, whose name is Alhaji Hamisu Hamco. See more pics after the cut...
[img]http://1.bp..com/-9OsFzmcHZvQ/VT3xGqf-7xI/AAAAAAAFD9k/9GEgmDAPiKY/s1600/2.jpg[/img]
[img]http://1.bp..com/-BO3skUVPF5g/VT3xJPLmbqI/AAAAAAAFD-A/xlvkvvnoh_Q/s1600/6.jpg[/img]
[img]http://1.bp..com/-wMwWvUu75q4/VT3xHdEWMqI/AAAAAAAFD9s/K4HBe2Cebrc/s1600/1.jpg[/img]
[img]http://4.bp..com/-JZzqipHSHTc/VT3xIMhIEDI/AAAAAAAFD94/3e7jlGdAwgM/s1600/5.jpg[/img]


Read more http://peddygist..com/2015/04/photos-commander-babba-and-rukaiya.html

its the bride's dad that is the business man in person of Alhaji Hamisu Hamco not the groom's dad.

sinaj:
she iz xo pwiiity!!!

her little bride iz a cutie too

i lyk d tattoo on her hand

. Heheee dats called kunshi. Happy married life Tatata (Rukayya) Remembered bk den in second schl I n my 2 sis wia d only christians in d whole schl n she ws 1 of d std dat ws really close 2 my sis. Missing Gateway int. big time.

Adesolomon2014:
Uhmmm,jus wondering hw its gonna be there in akwa-ibom....abeg report here make we jolly.....NB i dey report by June 2 nani

june 2nd awaits me.

Till now no one has said something fascinating about akwa ibom.

wence2:
Please how I get to akwaibom from kaduna state....?

also going from kaduna. Would love 2 know how 2 go abt it too.

EazyMoh:
Make I quick sign attendance. Name is Mohammed Zuizz ATBU C u guys in camp.

wow zuizz so swt 2 knw I'll meet u dia

benlegacy:
why most i cheat on my woman

cos its in dia blood. Men a naturally polygamous in nature n @ such can't do wif out cheating.

jiggaz:
Singer, Lola Rae who has been off our
radar for a while seems to have made a
come back as she has recently dropped
new singles.
The light-skinned singer who is fond of
MMMG’s Iyanya and Emma Nyra and
was at a time rumored to be in a
relationship with the former, recently
granted an interview where she talked
about her career amongst other things.
The British-Ghanaian-Nigerian star
further talks about nudity in the
Nigerian entertainment industry, her
love for music and her speculated
relationship with Iyanya.

See excerpts below..

On doing music in Nigeria:

To me, the experience is really good. And
at the same time, difficult because
sometimes you will want to give out the
best of you but there is no room for such.
I strongly believe that the entertainment
industry will find its place in terms of
structure in no time, and we will not
relent to attain a well-structured system.
I am 100per-cent ready to face the music
and the many challenges I may
encounter. I have nothing to fear. I was
born here in Nigeria and I am used to the
system. At present, I am launching my
coming back with a big bang. I am really
enthused to carve a niche for myself and
affect the industry positively. My
management is taking necessary steps to
stamp my come back on the scene.

About Iyanya:

Iyanya is a veteran in the game, he’s
done so much and he was the one that
said he wanted to feature in the song. I
was so surprised and had to ask him if
he had heard the song before and he told
me there was no problem. Right now,
Iyanya is more like a big brother to me.

On what makes her different from other
female stars:

My sound; because in my new single it
sounds as if I’m rapping but I’m not a
rapper. I’m trying to rebrand myself in
order to stand out and be unique. Also, I
will be doing more of stage performances
and not just the normal studio recording.

On nu.dity in the industry:

I don’t agree nudity is encouraging and
it’s exactly what has taken over the
entertainment industry because everybody
wants to sell his/her song. And it seems
to be working because the fans love it.
I’m not saying one should get naked but
you just have to give your fans the best.
For instance, the way I dress when going
onstage is quite different from the way I
dress on a normal day. I always like to
look sexy while performing and it’s a way
of giving my fans the best.

Source
http://www.radar.ng/gist/we-only-use-nudity-to-sell-our-songs-singer-lola-rae/

. Wot abt dose who sing gospel witot doing dis

Bacteriocin:
Visit d site nw: anyway, na may batch A dey go camp.

. I actually saw may 5th to eda 26th or 29th or there about bt I didn't want 2 believe it. Any ways thanks.

Pls any news as 2 wen Batch A wld b going 2 camp? Pls any1 wif an info shld pls share wif us.

Nneka123:
That's super strange! everybody has watched this movie, even the new generation now have watched it too. Go watch it, it's not bad. I'm fine, you?

. I've lost count of places I've gone looking 4 d complete movie.

ARKdiscloser7:
Hehehehehe!!
See this aboki woman, whose sense do u want to use.

In other words you'll be stealing money "TRADITIONALLY"

. She'll be busy teaching nigerian women how 2 cook tuwo n miyan kuka or tuwon shikafa da miyan taushe.

ameer2:
Dis is no rape. Pple jex misquoted dis news to mek islam look bad.They were caught fornicating and it's the perfect judgment. Had it been sharia law ll b implemented in Nigeria lyk dis. I think pple will learn to keep demselves clean n marry early. Bt sadly nw, sex has nw turned to a normal day to day activity btw untied beeins.pple hav nw turned to animals all in d name of human right.I wish somtin lyk dis wil b implemented in Nigeria so it ll serve as an example for odas.

. Confused human beings.

mikporch:
May allah be praised his judgments ar neva wrong

. Mad man with clothes on nw I see y u marry up 2 4 wives. Some even turn 2 auri saki. Mumu of d highest other.

Indeed our God is the God that makes the impossible possible because his ways are not that of men.

If she doesn't work how would they feed and take care of d child?

Left 2 me tell him no. But follow ur heart.

This is what we call *girma ta riga hankali* eh bt 1st of all we only heard ur own part of d story. Bt even at at I don't support 3rd parties in relationships talk more of marriage.

wasak:
confiscate her phone, destroy her sim card, if she questions u, tell. her u are treating her like a child because She's behaving like a child, let. her know you'll continue treating her like a child until She's mature! what nonsense!

. Perfect exactly wot he needs 2 do.

Some bastards that have been saying Jonathan is d brain behind BH nw will come here 2 say its all a ploy 4 buhari 2 lose supporters.

lafflaff123:
Pretty lady. Just curious why she is still single, is it because she is successful and scare men away? is it because she has a child outside wedlock?or is it because she is from Imo State where the bride price equals one Aeroplane?

. All of d above most especially d 1st n last point.

Dat can't be true where is ur prove?

diddy4:
i will never try this joint account thingy. no matter how much she makes, imm@ give her allowance. as far as i make more than her. my wife wont sweat too much ooo. no way, she is da queen in control of ma heart. give her the world and all i need is her loving care.

. God bless u jare. You are her king n she is your queen. Wen 2 best friends gets married there's always a balance equation wen it has 2 do with finances n spendings.

Rtd mjr gen. Nt gen.

He's sick n needs urgent attention

We would only hear but it shall not come near our dwelling neither dat of our loved one. Rest well Ester.

I'm so luvin dis woman. D sky is your starting point.

samuelson06:
Personally, I wouldn't allow my mother to move into the same house with me after marriage. I mean what for? She enjoyed her own life and marriage with her husband, why not allow me enjoy mine? What exactly is she coming to do? To still take care of me and give counsels? God forbid! My wife would enjoy her marriage to the fullest. No interference from anybody. I can't allow that happen to my just wedded lovely wife. Is she coming so that she'll say my wife can't cook? That she should come and cook for me or herself? In whose house? When I read those stuff, I'll just laugh at some men asking myself which planet they come from. Atleast it doesn't take much to be real man! Live your life without any form of interference please and be free. You have your life, take charge. For those that may have found themselves in this unfortunate situation, please I'll advice you to smartly discharge your mum to the family house. Eventhough it appears there might not be problem today, one would definitely arise someday and that good relationship between your wife (and in extension you) and your mum would begin suffer because of your own ignorance. Two matured women cannot stay under one man or same roof peacefully even if sisters. One must definitely create problem for the other and you know women are experts in creating problems. Even for Omugo or whatever name it's called, please don't invite her, your wife can take care of the baby by herself. She's a woman ofcourse and must have learnt all those things. Or what if your mum or her mum wasn't still alive? Wouldn't she take care of the baby? So what's the point? Even for house maid, stay away from them. These guys usually feel bitter and frustrated that they ain't privilege in the society and hence inflicting those pains on your baby. Some on their own refused going to school when they had the chance but now feels they have been left behind hence looking for what they can lay hand on in your house and zoom even it means selling your baby for rituals if possible. Please stay away from them.

. so on point. Which ever way some mothers in law still hate but I'll advise u keep showing her luv. Even if she's d devil herself she'll definitely get tired of hating u n reciprocate your love.

acidtalk:
How Do Guys Cope With More Than One Partner?

I find it amazing when I hear or see guys who boast of having up to 3 girls friends at a time (not flings). As a guy this is something i have never bothered trying. Once I am in a relationship, I stick to that partner (Emotionally and financially). Not that I don't get to have steady flings from time to time, but keeping up to 3 girl friends at a go is killing.

I would be the type of guy that will be termed 'very responsible'. Meaning I cater for my woman's basic needs and a little excess when the money is available. Even if the lady is richer, older and more sophisticated. It has always been my way.

I treat her like a brother, father, friend and lover by sharing experiences and advicing her. So doing all this with two other girls will probably drive me nuts.

Guys please how have you managed to cope with 3 steady girl friends over a period of time?

. For guys who keep more than 3 girls he is either a gigolo or forming player. he is a gigolo cos he can't afford dia bills even if its 1kobo n those who think dey r players, are shallow minded.