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The various types of Withdrawals are as follows:

1. Retirement
2. Death
3. Hard-ship (i.e. the 25% lump sum withdrawal due to termination or unemployment) and
4. Retirement on medical ground (i.e. retirement due to medical reason)
5. Missing Persons

 

I.    Retirement Benefit Withdrawal:

The retirement benefit is categorized in accordance to the Customers’ respective sector of employment i.e. Public employees or Private employees.

A. Public Sector Retired Employees:
Retirees from the Public sector, who have retired under the terms and condition of employment of the Federal Government, are to provide copies of the following documents for the processing of his/her retirement benefit;

1. Official notice of retirement from employer
2. Last pay-slip
3. Certified true copy of the retirement bond certificate.
4. Proof of enrolment with Leadway Pensure PFA
5. Evidence of any accrued pension entitlements  not remitted into your RSA (if any)
6. Completed Indemnity form (also stamped at the high court)
7. Two passport photographs
8. Bank Account Details (i.e. Acct. Name etc.)

Upon timely receipt of the above documents, the withdrawal unit (WU) of LPPFA will calculate benefit payment (with payment options) and inform the Customer in order to confirm the choice of benefit payment from the options available.

WU will further process applications to PenCom for benefit payment approval. Simultaneously, the Customer is also presented with the Withdrawal Agreement Form for completion.

 

B. Private Sector Retired Employees:
Retirees from the Private sector, who have retired under the terms and condition of employment of their respective organization (i.e. last employer), are to provide copies of the following documents for the processing of his/her retirement benefit;

1. Official notice of retirement from employer with stamped photograph of the retired employee
2. Last pay-slip
3. Evidence of annual remuneration
4. Proof of enrolment with Leadway Pensure PFA
5. Confirmation of any contribution owed by employer (if any)
6. Evidence of any accrued pension entitlements not remitted into your RSA (if any)
7. Official evidence of the terms and conditions of employment
8. Two passport photographs.
9. Bank Account Details (i.e. Acct. Name etc.)

Upon timely receipt of the above documents, the withdrawal unit (WU) of LPPFA will calculate benefit payment (with payment options) and inform the Customer in order to confirm the choice of benefit payment from the options given.

WU will further process applications to PenCom for benefit payment approval.
Simultaneously, the Customer is also presented with the Withdrawal Agreement Form for completion.

 

II.    Death Benefit Withdrawal:

The beneficiary/Next of Kin (NOK) applying for death benefit on the RSA  of a deceased Customer must provide the following items (i), (ii) and any one of items (iii) – (vii) below:

• (i) Letter of Administration or Will admitted to Probate;
• (ii) Certificate of Death/Cause of Death;
• (iii) Certificate of Registration of Death;
• (iv) Police Report (if death is by accident);
• (v) Burial Warrant issued by a Local Government Council;
• (vi) Evidence of Death/Burial issued by an Islamic Community Head or Judge of a Sharia Court.
• (vii) Evidence of Death/Burial issued by a Leader of a registered church.
• (viii) Copy of obituary poster (if any)

Upon timely receipt of the above documents, the withdrawal unit (WU) of LPPFA will process applications to PenCom for benefit payment approval.

Note: Where the NOK is not the same (as named by the deceased) on our database, the NOK will have to attach a sworn affidavit of Next of Kin.

 

III.   Hard-ship Benefit Withdrawal (25% lump sum):

The hard-ship benefit withdrawal is specifically for employees whose employment have been terminated or disengaged and have not been in any form of paid/gainful employment for a minimum period of six (6) months.  Please be informed that the following are the requirements for the processing of the 25% benefit withdrawals:

1. Hand written application letter
2. Birth Certificates/Age Declaration
3. Letter of Termination/Dismissal from employer.
4. Last Pension statement letter.
5. Photocopy of any form of identification (i.e. Driver's license, National ID       etc.).
6. 2 passport photographs

Upon timely receipt of the above documents, the withdrawal unit (WU) of LPPFA will process applications to PenCom for benefit payment approval.

Note: Where the Customer is above 50 years of age (with evidence of age) and applying for the 25% hardship benefit, the case is processed by WU to PenCom for directives.

 

IV.   On medical ground (i.e. retirement due to medical reason):

The processing of a Customer’s retirement benefit based on medical ground i.e. incapacity due to health conditions; will require the Customer to provide us (LPPFA) the following documents:

• Certified true copy  of a medical certificate issued by a properly constituted Medical Board or a suitably qualified physician;
• The letter of notification of retirement issued by the employer also authenticating the medical certificate; and
• Pay slip (last pay slip received) or evidence of total annual remuneration.
• Evidence of any accrued pension rights/acknowledgement of indebtedness (for private sector employees).

V.    Withdrawals in the Case of Missing Person:

The processing of benefit in case of persons, the employer and/or Next-of-Kin shall notify Leadway Pensure PFA of the disappearance of the employee/retiree after a minimum period of 12 months following the disappearance of the missing person.

The Next-of-Kin shall provide a satisfactory means of identification as follows;
a. Current International
b. Traveling Passport
c. National Identity Card or
d. Letter of confirmation of identity from his/her bank or Notary Public.

 

Upon satisfactory identification of the Next-of-Kin, leadway Pensure PFA shall
demand items (i) and (ii) and, if available, item (iii) of the list below, which
shall serve as adequate evidence that the employee/retiree is missing:

• A Police Report confirming that the person has been missing with effect from the reported date, the circumstance of the disappearance and that the person has not been found after 12 months.
• Letter of confirmation of disappearance from the employer (if in active employment at the time of disappearance) also bearing the passport photograph of the missing person.
• Newspaper publication announcing the disappearance of the person.

The employer or Next-of-Kin or the representative of the deceased shall notify the LPPFA of the death of the employee/retiree.

The Next-of-Kin shall provide a satisfactory means of identification such as current International Traveling Passport, National Identity Card or letter of confirmation of identity from his/her bank or a Notary Public.

The LPPFA shall confirm the identity of the Next-of-Kin with the information on its database.

A Next-of-Kin who cannot provide any of the means of identification highlighted in above, shall be identified by a 3rd party, who in addition to providing any of the satisfactory means of identification highlighted in the above, shall provide a letter of confirmation of identity of the Claimant from a Notary Public.

If the LPPFA is satisfied with the identity of the next of kin, the PFA shall demand a combination of item (i) and any of items (ii) – (vii) below, which shall serve as adequate evidence of death of the employee/retiree, while item (viii) is optional:

1. Letter of Administration or Will admitted to Probate;
2. Certificate of Death/Cause of Death;
3. Certificate of Registration of Death;
4. Police Report (if death is by accident);
5. Burial Warrant issued by a Local Government Council;
6. Evidence of Death/Burial issued by an Islamic Community Head or Judge of a Sharia Court.
7. Evidence of Death/Burial issued by a Leader of a registered church.
8. Copy of obituary poster (if any)

The PFA shall confirm the validity of the Letter of Administration or Will admitted to Probate and sight the originals of other documents above-mentioned.

The PFA shall notify the Commission of the death of the employee/retiree by sending an electronic Death/Missing Persons Notification Report (which shall contain minimum information as in Appendix 2) within 48 hours of receipt of the notification.

 

For Public sector employees

In addition to the Death/Missing Persons Notification Report, the PFA shall forward to the Commission, the Certified True Copy of the Retirement Bond Certificate for the process of redemption, in line with the regulations for the redemption of the Federal Government Retirement Bonds.

Upon satisfactory evaluation of the Death/Missing Persons Notification Report, the
Commission shall process and advise the Central Bank of Nigeria to remit the proceeds
of the Retirement Bond into the deceased’s RSA.