Services – Benefit Administration

Enbloc benefit payment means the entire fund in the retiree’s RSA is paid to the Contributor. The retiree eligible for Enbloc must have attained 50 years and must have a maximum amount of N550,000 or less in his account

Key documents required are:

• Request letter for benefit
• Retirement letter or resignation letter
• Age declaration/Birth certificate
• 2 passport photographs
• Employers’ confirmation of accrued rights
• Bank account details
• National Identity Number (NIN)
• Must be on ECRS through the Data Recapture Exercise.
• Any valid, government-issued means of identification

The loss of Job or 25% benefit withdrawals cover contributors whose employment have been terminated and are unable to secure another job four months after the loss. Contributors eligible for this payment type however must be less than 50 years.

Documents required are:

• Request letter for benefit
• Termination or resignation letter
• Age declaration / Birth certificate
• 2 passports photographs
• Employers’ confirmation of accrued rights
• Bank account details
• National Identity Number (NIN)
• Must be on ECRS through the Data Recapture Exercise.
• Any valid, government-issued means of identification

This is the benefit due to the retiree on the attainment of 50 years. The retiree eligible for this benefit must have over N550, 000 in his RSA account.

The retiree’s age at retirement, final salary, Sex and RSA balance are variables inputted in the PENCOM template to determine the lump-sum and the monthly programmed withdrawal that will be paid to the retiree once the application is approved.

A retiree opting for the annuity will furnish their chosen Insurance Company with copies of the template and these details will be used to compute the premium and annuity that will be paid to the annuitant.

Documents required are:

• Notification of retirement
• Retirement letter or resignation letter
• Last payslip
• Age declaration/ Birth Certificate
• Employers’ confirmation of an accrued right
• Retiree/Indemnity form
• Programmed Withdrawal form
• Bank details
• National Identity Number (NIN)
• Must be on ECRS through the Data Recapture Exercise.
• Means of identification

This Benefit Payment type can only be accessed by the Next of Kin of deceased contributors. Documents required will vary according to the sectors where the contributors worked.

For deceased contributors who died in active service, the NOK is entitled to the Group Life Insurance benefits as mandated by Law. The Group life Benefit will be paid directly to the Next of Kin, and it is three (3) times the deceased contributor’s emolument – 3 x basic + transport + housing.

Key documents required are:

• Request letter
• Notification of death
• Death certificate
• Letter of administration
• Age declaration/ Birth certificate
• 2 passport photographs of the deceased
• Estate account details.
• National Identity Number (NIN)
• Data recapture
• Means of Identification of the next-of-kin
• Estate account
• Letter of administration

These benefit payment types are schemes managed by some Organisations prior to the enactment of the Pension Reform Act 2014.

It is typically paid to employees when out of active service.

Documents required to process are:

• Request letter
• Employers’ confirmation of gratuity payment/legacy for retiree
• Bank account details
• 2 passport photographs
• Age declaration/ Birth Certificate
• National Identity Number (NIN)
• Any valid, government-issued means of identification

Documents required to process voluntary contributions are

• Request letter
• 2 passport photographs
• Bank account details
• National Identity Number (NIN)
• Data recapture
• Any valid, government-issued means of identification
• Tax ID of the contributor

National Social Insurance Trust Fund (NSITF) was a Pre-Act scheme that was contributory. The scheme was stopped by the FGN on the commencement of the Pension Reform Act (2014). Contributors could apply to have their previous NSITF contributions credited to their RSA via their PFAs.

Contributors eligible for these benefits must:

• Be 50 years of age.
• Have accessed a benefit payment type of either PW or Enbloc payment.
• Have evidence of transfer of NSITF fund.
• Be in the contributor’s statement of account.
• Must be on ECRS through the Data Recapture Exercise.
• Have a request letter.

There are grounds for this benefit claim by the Next of Kin of the RSA holder, usually, it is in a case where the contributor is declared missing and has not been found for one year or more.

The documents the Next of Kin must provide includes:

• Notification of missing persons
• Letter of administration
• Age Declaration/ Birth Certificate
• 2 passport photographs of the missing person
• Estate account details
• National Identity Number (NIN)
• Identification of next-of-kin
• Estate account bank details

This is when medical complications forces RSA holders to retire from employment. There must be certified medical reports from a federal medical facility supporting their claim and attested to by employers.

Documents required to process this mode of withdrawal includes:

• Notification of resignation based on medical grounds from a federal hospital
• Retirement letter or resignation letter
• Last payslip
• Age declaration
• Employers’ confirmation of the accrued right
• Retiree/Indemnity form
• Programmed Withdrawal form
• Bank account details
• National Identity Number (NIN)
• Must be on ECRS through the Data Recapture Exercise.
• Means of identification