Pension Alliance empowers customers on documentation, filling processes

 The ability of intending retirees to understand the documentation process with their Pension Fund Administrators (PFAs) to ease retirement process has become very important in realising the critical objective of the pension scheme. This is why, Pension Alliance Limited (PAL Pensions) recently took its customers from both the private and public sector through the rudiments of filling their retirement documents.

To the company, it would be their joy that retirees’ leave employment and transit smoothly to its retirement without difficulties of accessing his pension fund as provided in the pension Reform Act 2004.

Dave Uduanu, managing director, PAL Pensions speaking at the Company’s Customer Forum held at the Educational Resource Centre in Abuja informed that the forum was organised to educate their customers on the processes and documentation required for assessing their retirement benefits.

“The interactions, feedback and complaints that we get from here will go a long way in helping us proffer solutions where necessary,” he disclosed adding that the entire process also gives many customers a direct platform to updates their records.

Speaking on non-compliance of many companies in Nigeria, Uduanu said access to pension is a right of every working Nigerian while explaining that since it is an act of government, it is an offence for companies not to comply. “When companies comply, their workers have something to look forward to and this will be a motivating factor for employees,” he said.

At the forum, customers asked several questions bothering on electronic payments and payment alerts, irregular remittances, not upgrading pension remittance due to employee promotion, inconsistent issuance of statements of accounts, the fate of retrenched employees, as well as issues bothering on the old scheme and the new scheme to which they all received explanatory answers. The company also took the customers through a presentation to explain pension process flow, benefit payment, retirement, documentation processes, payment processes, benefit computation as well as annuity and programmed withdrawal.

Chinelo Anohu-Amazu, acting director general, National Pension Commission (PENCOM) said at the forum that the Commission was working very hard to ensure that the objectives of the scheme are met to ensure that retirees have the best of benefits.

Anohu-Amazu represented by Abdulrahaman Muhammad Saleem the commission will not lose sight of its responsibility to monitor and supervise the operation of the pension industry, assuring of safety and enhanced benefit for the Nigerian workers.

PAL Pensions currently has more than 300,000 customers in their kitty with the latter’s pension contribution in the PFA’s care. With assets in excess of N100billion, Uduanu disclosed that the company prides itself in the quality of services rendered.

MODESTUS ANAESORONYE