Final Retirement Benefits
En Bloc
An RSA holder whose balance cannot provide a monthly/quarterly pension of at least one third of the prevailing minimum wage shall be allowed to take the entire fund en-bloc provided he/she has attained the minimum age of 50 years.
The Retiree gets one-off Lumpsum payment but without subsequent monthly pension.
The following documents are required:
1. A letter addressed to MD/CEO of NLPC Pension requesting payment of retirement benefits.
2. A copy of acceptance letter of disengagement/resignation/retirement by employer
3. FGN Bond registration slip – [for public sector retiree]
4. A Clearance letter (State Retirees Only)
5. A recent pay slip (which must be within the last three months of disengagement) or evidence of total emolument (signed and stamped by the Head of Account of the last employer)
Lumpsum and monthly pensions
At minimum age of 50 years with RSA balance that provides a monthly/quarterly pension of at least one third of the prevailing minimum wage, the Retiree gets Lumpsum payment and subsequent monthly pension. Monthly pension can only be accessed by way of Programmed Withdrawal Retirement Option - PWRO (PFA Based) or Annuity Option (Life Insurance Company Based)
1. A letter addressed to MD/CEO of NLPC PFA requesting for payment of retirement benefit
2. Copy of notification of disengagement / resignation / retirement letter if initiated by the client
3. Copy of acceptance letter of disengagement / resignation / retirement by employer.
4. Copy of letter of disengagement by employer, if disengagement is at the instance of the employer
5. A document confirming that the disengagement is in accordance with the terms and conditions of employment (if by retirement or contract)
6. FGN Bond registration slip – [for public sector retiree]
7. Clearance letter (State Retirees Only).
8. A recent pay slip (which must be within the last three months of disengagement) or evidence of total emolument (signed and stamped by the Head of Account of the last employer).
9. Duly completed NLPC Pension forms (Notice of Retirement Form, Benefits Application Form)