₦airaland Forum

Let's meet here, trust me, you won't regret it. http://www.insuranceplus.com.ng/index.php/2015/09/24/understanding-nigerias-contributory-pension-scheme-season-1

Guess this will be an educative thread.

GboyegaD:
Guess this will be an educative thread.

Sure it is...

I have a question. Shouldn't PENCOM through the PFAs automatically remit 25% of funds in an individual account should pension not be remitted for 6months which implies such a person is out of job or at worst, contact the person to know why his/her pension is not been remitted? To be candid, I have fears about the pension fund particularly since most of it isn't working the way it should be. This is my opinion though.

GboyegaD:
I have a question. Shouldn't PENCOM through the PFAs automatically remit 25% of funds in an individual account should pension not be remitted for 6months which implies such a person is out of job or at worst, contact the person to know why his/her pension is not been remitted? To be candid, I have fears about the pension fund particularly since most of it isn't working the way it should be. This is my opinion though.

@Gboyega, Anybody that is out of job for at least 4 months cm apply to PENCOM through their PFA to access 25% of their contributions...If your contribution a are not remitted, your PFA is supposed to inform you & notify your employers to help recoup outstandings.

Gentlebabs:
@Gboyega, Anybody that is out of job for at least 4 months cm apply to PENCOM through their PFA to access 25% of their contributions...If your contribution a are not remitted, your PFA is supposed to inform you & notify your employers to help recoup outstandings.

It doesn't work that way and that is why I have issues with the pension act and PENCOM. It took one of the banks 5years before they remitted my pension and my PFA never bothered. If I opened an account with you because I got a job and after a month nothing was forth coming into the account, shouldn't you raise alarm? I think like deposit banks, they are only concerned about deposits and how they in turn make monies from those deposits.