Retirees are given two retirement benefit modes: Programmed Withdrawal (PW) and Retiree Life Annuity (RLA). A retiree is required to choose between the two modes by which his/her retirement benefits shall be paid. What is Programmed Withdrawal? This is a stream of income paid by a Pension Fund Administrator to a retiree on monthly or…

The following actions are to be undertaken by a prospective retiree in order to facilitate the process of payment of his/her retirement benefits: A. Actions to be Taken by a Potential Retiree Retirement benefits are entitlements, rights and privileges that accrue to a worker/employee upon leaving the services of an employer for reason of having…

Retirement benefits are entitlements, rights and privileges that accrue to a worker/employee upon leaving the services of an employer for reason of having worked or provided service to the employer. Such benefits could be paid in either lump-sum (gratuity), periodically (pension) or a combination of both. Such arrangements could include multiple benefits and severance arrangements.…

Retirees in Nigeria are given two retirement benefit modes, which are Programmed Withdrawal (PW) and Retiree Life Annuity (RLA) in line with the provisions of Section 7(1) of the country’s Pension Reform Act (PRA) 2014. Someone who is retiring is required to choose between the two modes by which his/her retirement benefits shall be paid.…

The 19 Pension Fund Administrators (PFAs) in Nigeria, their locations, phone numbers, email and website addresses are as follows: Access Pensions Limited 1st & 4th FloorOakland Centre48 Aguiyi Ironsi StreetMaitama, Abuja +234 9 4613333 info@accesspensions.ng www.accesspensions.com ARM Pension Managers Limited No. 5, Mekunwen RoadOff Oyinkan DriveIkoyi, Lagos +234 1 2715000 0700CALLARM 07002255278, +234 1 2692097,…

Nigeria has 19 PFAs (Pension Fund Administrators) namely: While majority of the PFAs are owned by profit oriented companies some PFAs have certain institutions as founders. While Trustfund Pensions Limited is owned by NLC (Nigeria Labour Congress), NPF Pension Managers Limited has Nigeria Police as founder. More on Pension Fund Administrators (PFAs) Pension Fund Administrators…

Pension Fund Administrators (PFAs) manage and invest pension funds on behalf of employees who are registered under the Contributory Pension Scheme (CPS). This system, regulated by the National Pension Commission (PenCom), aims to provide workers with financial security after retirement. The Contributory Pension Scheme requires pension funds to be privately managed exclusively by licensed Pension…

Full Name: Christian Ogbonna Chiwetalu AguDate of birth: 5th March, 1956Age: 67 (As of 2023)Nationality: NigerianState of origin: Enugu StateChristian Ogbonna Chiwetalu Agu is a veteran Nollywood actor and comedian. He is very famous for his fluency in the Igbo dialect and his slangs in his movies. Chiwetalu Agu was born on the 5th March,…

The dream of the Tiv people who today mostly live in Benue State; and also in Taraba, Nassarawa , Cross River and Plateau States, to have an identity during the colonial days , was summed up by two significant events. These events were the unification of the all Tiv people under one administrative unit in…

American pharmacist John S. Pemberton created Coca-Cola, which he initially marketed as a cure-all tonic. Dr. John Stith Pemberton invented Coca-Cola on May 8, 1886, forever transformng the world’s eating patterns. The drink’s name comes from two of its original ingredients: coca leaves (a source of legal cocaine) and kola nuts (a source of caffeine).…