Benefits / Retirement

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Benefits / Retirement
 

Depending on the retiree’s age and RSA balance the following will occur.

(A) If the retiree is below age 50years and has been disengaged or terminated from her place of work.

He/she is entitled to apply for 25% of his/her total RSA Balance, Four months from the time of termination/disengagement provided he has been unable to secure another job. The following documentations are required for this are as follows

1. Copy of Exit letter
2. Birth certificate/Declaration of age
3. Last payslip
4. Completed Standard Notice of Retirement Form
5. RSA statement of account,
6. Confirmation Letter from employer
7. Personal letter of request

(B) If the retiree is above 50years with a balance of N550, 000.00 or below

He/she is entitled to an enbloc withdrawal of the total balance of his RSA account. The following documentations are required for this are as follows

1. Copy of Exit letter
2. Birth certificate/Declaration of age
3. Last payslip
4. Completed Standard Notice of Retirement Form
5. RSA statement of account,
6. Confirmation Letter from employer
7. Personal letter of request

Once all the documentation is received on any of the applications, the request is sent to PENCOM with all earlier mentioned requirements

(C) If the retiree is above 50years with a balance of above N550, 000.00

He/she is entitled to a Lumpsum arrears and subsequent monthly pension’s withdrawal. The following documentations are required for this are as follows

1. Copy of Exit letter
2. Birth certificate/Declaration of age
3. Last payslip
4. Completed Standard Notice of Retirement Form
5. RSA statement of account,
6. Confirmation Letter from employer
7. Personal letter of request

Once all the documentation is received on any of the applications, the request is sent to PENCOM with all earlier mentioned requirements.Please note that NSITF details can be added for processing

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