Final Retirement Benefits

En Bloc

The account holder will collect the total balance in the RSA provided he/she has attained the minimum age of 50 years and the amount available is not more than N550,000.00. The Retiree gets one-off Lumpsum payment but without subsequent monthly pension.

Final Retirement Benefits - En Bloc
Lumpsum and monthly pensions
Lumpsum and monthly pensions

At minimum age of 50 years and RSA balance above N550, 000.00, 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).

Documents Required for PWRO:
  1. A letter addressed to MD/CEO of NLPC PFA requesting for payment of retirement benefit
  2. Copy of letter of first appointment
  3. Copy of official ID Card
  4. Copy of National ID Card, International Passport, Driver’s License or Voter’s Card.
  5. Copy of notification of disengagement / resignation / retirement letter if initiated by the client
  6. Copy of acceptance letter of disengagement / resignation / retirement by employer.
  7. Copy of letter of disengagement by employer, if disengagement is at the instance of the employer
  8. A document confirming that the disengagement is in accordance with the terms and conditions of employment (if by retirement or contract)
  9. FGN Bond registration slip – [for public sector retiree]
  10. 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).
  11. A copy of the birth certificate or age declaration.
  12. Clearance letter (Lagos State Retiree Only).
  13. Duly completed NLPC PFA forms (Notice of Retirement Form, Bank Account Form, Pensioners’ Life Certificate Form, Retiree’s Indemnity Form and Programmed Withdrawal Agreement (PWA)- 2 copies ( PWA not required for En-bloc payment and Annuity).