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Nairaland Forum / Nairaland / General / Investment / I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! (27023 Views)
(NEW Info)why Your Contributory Pension Scheme Will Disappoint You At Old Age / Union Bank Eket Branch Want To Forfeit My Dad Contributory Pension Funds. HELP! / Bankers/lawyers Help! I Am About To Loose My Dad's Investment (2) (3) (4)
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Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by dannybrasky(m): 9:19pm On Apr 26, 2019 |
Bless u,cos if they won't be giving out the pension money to the next of kin,then why have a next of kin in the first place. It's that simple. obstead200: |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by mayim(m): 9:28pm On Apr 26, 2019 |
Some of d earlier advices are very valid, u will need a letter of administration to process the claims and yes, you go through the PFA not the bank. However be very sure not to add anyone’s bank account as the beneficiary except yours or your siblings’...I have seen cases like dat where the claim is eventually paid into someone else’s account...you can send me an email so we talk, I am in the position to get your money out for u and even see to it that whoever is trying to divert the money is brought to justice. And No, I won’t take a dime from u. All d best |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Adek15(m): 9:29pm On Apr 26, 2019 |
NwanyiAwkaetiti:Hmm.. Men have really surfered in the hands of women. You can't use your husband as beneficiary/NOK of your FUND but you want him to use you as his.. Chai 1 Like |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Kollyman: 9:31pm On Apr 26, 2019 |
Pinkybush: Sorry my response is coming late. Most of the people don't understand OP's frustration, let me put a little light there in. Stanbic IBTC pensions often use some Stanbic IBTC bank enquiry staff to also handle pension matters in some of their branches. These staff in question often try their best in handling some pension issues but when the big ones comes (like OP's case) those guys often don't handle it well. Due to the fear of ........., they often find it hard to escalate to their HSS or the regional client service manager covering that jurisdiction while they keep posting the client at every visit. OP, let me tell you these sure facts: 1. You are entitle to collect whatever amount that is left in your late father's RSA enblock. 2. No PFA will try to defraud or prevent you from accessing the death benefits most especially a reputable organisation like SIPML. 3. Not only will you get the value of the leftover retiree fund, you will also be paid whatever interest that has accrued so far into the account even during your period of processing. However, I cannot be mentioning the documentation requirements on this platform but I will advise you to visit their main pension office in your state. If you are in Lagos or closer to Lagos, Kindly visit their head office at Plot 1678 Olakunle Bakare close, Victoria Island, Lagos. You can call their call centre line (01-2716000) to know their officer in your state where you will be advised appropriately. Please do not pay/give anybody money with regards to the processing of your late father's benefits aside from the LOA processing. Also, we are into this together, so do not hesitate to revert on this thread if there are any further issues. NB: I am not their staff 4 Likes |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by OBAGADAFFI: 9:43pm On Apr 26, 2019 |
Kollyman: You are 100% correct. 1 Like |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by OBAGADAFFI: 9:45pm On Apr 26, 2019 |
Op go to the PFA office with your LA and and claim your father's estate. 1 Like |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by jboycrb(m): 9:47pm On Apr 26, 2019 |
omoguess: And where is d bank? Voluntary contribution are paid thru a certain bank for remittance to pension acct |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by courage9(m): 9:51pm On Apr 26, 2019 |
sweetilicious:You're on point With Insurance, ur family is secured |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by valdes00(m): 9:51pm On Apr 26, 2019 |
kmcutez:Lolz Mrs analyst .... I would av loved to explain to you but at the Same time, my explanation is nt necessary.... let me leave u with ur analysis.... Go in peace |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by autonomous22: 9:52pm On Apr 26, 2019 |
Pinkybush: I was once in similar situation , but after much delays... "letter of administration " from court helped me to settle everything 1 Like |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by valdes00(m): 9:53pm On Apr 26, 2019 |
NwanyiAwkaetiti:You won't understand.... save urself the stress.... its not what you think... |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Clefayomide: 9:55pm On Apr 26, 2019 |
sweetrace: I believe we are both talking about the same contributory pension scheme? Here's what I got from my research
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Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Clefayomide: 9:59pm On Apr 26, 2019 |
Pinkybush:
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Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by WetinUGain: 10:03pm On Apr 26, 2019 |
Scandinavian02: Ohh..50 yrs now?....used residual knowledge.....I know d payment due to job loss was around 20-25%... The annuity (wch I think is somehow related to life insurance) and the programmed method must be desired package requested by d pensioners...Most PFAs i know pay d lump sum So in that case,the OP knows wat he is talking..he needs to know d arrangements of d mode of payment btw his dad and d PFA, dt will guide his decision.... |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Nobody: 10:07pm On Apr 26, 2019 |
Adek15:Funny how it's your people that are mostly embracing this equality like Dem tired of the role assigned from creation. |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by cenaman(m): 10:10pm On Apr 26, 2019 |
Pinkybush:I will advice u go to IBTC pension office and ask questions, but don't let them know you have issue with them from there u will know your next step. 1 Like |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Satioshi: 10:16pm On Apr 26, 2019 |
This is absolutely incorrect. He should approach the bank with a letter of administration. The bank will then write to the PFA who in turn gives the authorization for payment and then proceed to remove the deceased client from programmed withdrawal payroll until the death benefits are paid to the beneficiary upon approval by the National Pension Commission. omoguess: |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by yetunsbay(m): 10:29pm On Apr 26, 2019 |
Both for the monies in your dad's acct & pension with PFA you still need LoA coz he died intestate (without a will). Visit Court's Probate Registry jurisdiction where your Dad falls & start the processing first coz it gulp time. If you know his Pension pin (it"s written PENxxxxxxxxxxx) infact you can equally monitor the acct progress via PFA e- platform For Ogun State LoA Processing
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Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by shurlermoz(m): 11:01pm On Apr 26, 2019 |
omoguess: Are you talking about the particular months pension or all the pension? The lump sum was never with the bank it has always been with the pension office, now the pension office pays monthly thru the bank. If you want whatever remains of the pension, the Next of kin needs to approach the pension office and not the bank. If you are talking about that particular months pension, I'm sorry you can't collect that. The bank will return it to the pension office and you can get whatever is left in your dads pension account thru his pension office. 1 Like |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Nobody: 11:12pm On Apr 26, 2019 |
Pinkybush: Meet a good lawyer |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Asquare84(m): 11:25pm On Apr 26, 2019 |
Pinkybush: |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Asquare84(m): 11:26pm On Apr 26, 2019 |
[quote author=Pinkybush post=77874175]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? I currently work with a pfa. The outstanding balance in your father pension account will be paid emblock to the next of kin, kindly visit any Stanbic pension office |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Asquare84(m): 11:29pm On Apr 26, 2019 |
I currently work with a P F A, out standing balance of your father pension will be paid to the next of kin. Visit any branch of Stanbic penion |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by sweetrace(f): 11:30pm On Apr 26, 2019 |
Clefayomide: Please go to their office and get the facts. |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by sweetrace(f): 11:32pm On Apr 26, 2019 |
Asquare84: This information is totally false. This is not how to get clients. |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Asquare84(m): 11:38pm On Apr 26, 2019 |
sweetrace: So who will benefit from the father outsandi |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Asquare84(m): 11:38pm On Apr 26, 2019 |
sweetrace: So who will benefit from the father outsanding RSA ballance |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Clefayomide: 12:07am On Apr 27, 2019 |
sweetrace: Ok thanks |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by sweetrace(f): 12:09am On Apr 27, 2019 |
Asquare84: That is not how it works. The pension is not just made up of employees and employer contributions. You have the interests also. But often, this is not enough to pay a salary every month for a minimum of 18 years. Where does the rest of the money come from? The pension fund in general. If the pensioner dies without collecting the gratuity, the next of kin receives that lump sum. The rest goes back into the pension fund. Pension is not transferable. It won’t even be paid into a third party bank account. |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by sweetrace(f): 12:14am On Apr 27, 2019 |
Clefayomide: You’re most welcome. Reading all these mentions and comments, it is obvious that there are so many misconceptions about what the pension is. You can go to pal pensions. The head office is in Victoria island. Or IBTC pensions. When you get the explanations, maybe you can open a thread to educate all these people who can’t differentiate between the gratuity and the pension. Who see pensions as an investment like mutual funds. |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by LUCAS99: 12:39am On Apr 27, 2019 |
autonomous22: How long did it take you to obtain the Letter of Administration? I’m in a similar situation & looking for possible leads... |
Re: I Am About To Lose My Dad's Contributory Pension, Bankers/Lawyers Help! by Nobody: 2:10am On Apr 27, 2019 |
Pinkybush: you cannot access the cash left in the pension account for now but it will be returned to the pension custodian and added to his outstanding balance over there. approach the pension co. with required documents to get those funds paid to you as next of kin. meanwhile you can demand to know the balance he left in the bank a/c for your reconciliation purposes. |
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