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Punch Newspapers Sections Nike Popoola Nike Popoola Published 12:14 am  The National Pension Commission refunded N848.92m to 3,499 retirees under the Contributory Pension Scheme and allowed them to leave the system due to low balances in their Retirement Savings Accounts in the fourth quarter of 2020. Figures obtained from PenCom’s report on ‘Enbloc payment of retirement benefits’ for the fourth quarter revealed this on Tuesday. According to the report, the concerned retirees did not have above N550,000 in their RSAs as of the time they retired. Part of the report read, “During the quarter under review, the commission granted approval for enbloc payment of retirement benefits to 3,499 retirees whose RSA balances were N550,000.00 or below and considered insufficient to procure Programmed Withdrawal or Retiree Life Annuity of a reasonable amount for an expected life span.

National pension commissionPension fund administratorsNike popoolaContributory pension schemeRetirement savings accountsProgrammed withdrawalRetiree life annuityதேசிய ஓய்வூதியம் தரகுபங்களிப்பு ஓய்வூதியம் திட்டம்ஓய்வு சேமிப்பு கணக்குகள்ப்ரோக்ராம்ட் திரும்பப் பெறுதல்ஓய்வு பெற்றவர் வாழ்க்கை வருடாந்திரம்