Pinkybush:
Thanks to all positive contributions. I will see what I can do in the next coming days.

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

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:


But I’m talking from experience too. There have a lot of reforms regarding pensions. Please don’t raise the ops expectations

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

Pinkybush:
Please I need urgent help! My dad used to be working in a company and had been contributing pension money during his service years thro' IBTC.

Unfortunately, he's late, but before he died he had been making withdrawals of the said pension after his service with the company. I approached the bank, but it appears the guy I met want to stop us from getting the money and corner to theirs. Please now that my dad is dead, are his children not entitle to this money since it was a contributory pension?

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

Pinkybush:
Please I need urgent help! My dad used to be working in a company and had been contributing pension money during his service years thro' IBTC.

Unfortunately, he's late, but before he died he had been making withdrawals of the said pension after his service with the company. I approached the bank, but it appears the guy I met want to stop us from getting the money and corner to theirs. Please now that my dad is dead, are his children not entitle to this money since it was a contributory pension?

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.

[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...

AleAirHub:
Satan-IBTC worst experience bank. I will never be in hurry to forget the frustration & rejection melted on my face last 4yrs ago at their branch in Yenagoa. Same services i requested for then , am now a service provider in that area. Foolish bank

Oga AIRHUB pls whats the service you went for back then? No vex oooh?

Hmm really learning a lot here.

[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.

NwanyiAwkaetiti:
I don't know what some men be thinking not using their wives as next of kin... Won't she Carter for the family when u gone?

Whom would you use as your next of kin ?

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]

kennyok:

And necessary documents to present

The probate will issue you a
Later asking the bank to allow u have access to d Said money..

later? Na wa ooo

phonemakemoney:
Whom would you use as your next of kin ?

For now its my sibling. Will change it once I got kids

[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?

I thought its the PFA that should process the payment. What concerns bank here is what I don't know.

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

Pinkybush:
Thanks so very much

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?

sweetrace:


It is not just your dad’s contribution. It is the contribution of your dad and his employer. You are not entitled to your dads pension.

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?

omoguess:


My dear, no bank takes pension money, it is normally returned back to the pension provider to avoid sanction from cbn

He was referring to IBTC Pensions

Kindly visit any STANBICIBTC bank or pension office... Please call their customer care 012716000... Send a mail to pensionsolution@stanbicibtc.com for enquiry

NwanyiAwkaetiti:
For now its my sibling. Will change it once I got kids

So what is wrong if your husband uses his siblings and later changes it to his kids when he has kids?

Clefayomide:


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?

Go and read the Pension Reform Act please. Pemsion is now contributory between Employer and Emoloyee. Dunno if it is stil 6.5% each.

Joromi12:
U have been collecting his pensions after death using his ATM that is a fraud na. Pension ends when u die. So bros be happy dem no nab u before d atm expired

Are you serious or you're just joking?
Cos we did something like that when Dad passed away o

WetinUGain:


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?

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

Pinkybush:
Please I need urgent help! My dad used to be working in a company and had been contributing pension money during his service years thro' IBTC.

Unfortunately, he's late, but before he died he had been making withdrawals of the said pension after his service with the company. I approached the bank, but it appears the guy I met want to stop us from getting the money and corner to theirs. Please now that my dad is dead, are his children not entitle to this money since it was a contributory pension?

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

Get a lawyer

phonemakemoney:
So what is wrong if your husband uses his siblings and later changes it to his kids when he has kids?

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.

Clefayomide:


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?

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.

zikoson:
OP I don't think you have any reason to panic. Listen, try to get the RSA ACCOUNT PIN, it looks like this PEN×××××××××××× if you can't locate it then you can visit the office where your dad works and collect it from them because they have it with them, then if you have your dad's Sim registered with his pension account all you to do is, dial (BAL PEN×××××××××) and send it to (30388) instantly you will receive your dad's pension balance details after that you can proceed to the bank and demand to see the manager of the branch I believe he/she will guide you on next lines of action. But make sure you have evidence of your dad's demise, and also have in mind that any balance in that account goes to the next of kins

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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.

omoguess:
You are only entitled to your fathers gratuity (if he has not been paid). As for pension, you are not entitled to it. The bank has to return all pension paid to the acct after your fathers death back to the pension office

I think u are wrong

dannybrasky:
Who's your dad's next of kin? If next of kin is alive then it's as simple as A.B.C.

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

Papertrail11:
All this oyinbo scam you work hard yet your children cant inherit your money when youre gone

That is why I hate jobs, investment is better