You are here
Home > BUSINESS > Know your Pension Rights

Know your Pension Rights

Know your Pension Rights

Please follow and like us:

  • 363
  • Share

Do you know that your pension rights under the Pension Reform Act 2014 include the following:

  • Right to retire voluntarily at 50 years.
  • Compulsory retirement age is 60 years.
  • Access mortgage loan with part  of your pension.
  • Access 25% of your total pension when you are out of job for four   months.
  • Your employer is mandated to contribute minimum of 10% of your monthly total emolument to your RSA account every month in addition to the 8% deduction from your monthly salary.
  • Our PFA is mandated to write a letter to your employer on your behalf when they fail to remit same into your RSA demanding payment.
  • Your PFA is mandated to report your employer to the regulatory body, the National Pension Commission (PenCom) if they eventually fail to comply.
  • You can report your employer to your PFA or PenCom without your name being mentioned if they fail to remit your pension as and when due.

The post Know your Pension Rights appeared first on The Nation Nigeria.

Facebook Comments

Please follow and like us:

  • 363
  • Share

Leave a Reply

Top