Rivers
PAL Pensions Sensitises Retirees On Industry Reforms
Pensions Alliance Limited, popularly known as PAL Pensions, says it seeks to keep its customers abreast with reforms in the industry.
Speaking at a forum it organised for retirees in Port Harcourt, the Acting Regional Manager, PAL Pensions, covering South-South, Mrs. Millicent Hogan, thanked the participants, saying the forum also seeks to keep close relationship with the retirees.
She said with over 75,000 retiree customers since inception, PAL Pensions has been noted for good customer relationship amd prompt processing of retiree pensions, including lump sum.
“In 2022, it has been on record that Pensions Alliance Limited paid not less than 15,000 clients worth over N13 billion, and total amount paid since inception is over N111 billion”, she said, stressing that its robust system has afforded its customers easy access to their account via mobile applications and chat bots.
Also speaking at the event, a Unit Head in PAL Pensions, Mr. Emmanuel Chiboka explained that PAL Pensions is regulated by National Pensions Commission (PENCOM) and retiree funds are also invested in accordance with PENCOM stipulated guidelines.
Aside slashing its administrative fees with the view to giving more to its customers, he said PAL Pensions has dedicated Account Officers assigned to all its customers.
While on the industry updates, Mr. Chiboka explained that the multi-fund framework is aimed at aligning the age and risk profile of retirement savings account (RSA) holders by dividing the RSA fund into six fund types.
He further said Fund IV is for retirees, adding that the flexibility of the structure enables active customers to switch, depending on their risk appetite or preferred PFAs.
In terms of transfer windows, he said PENCOM has made it possible for account holders to switch from one Pension Fund Administrator (PFA) to another, and would still maintain the same pin number, which served as an open window for account holders from other PFAs to join in their pool and enjoy its high returns on investment.
In addition, Mr. Chiboka explained the difference between programmed withdrawal and annuity, stressing that pension fund administrators offer programmed withdrawal to its customers.
This, he said, “is because retirees cannot only negotiate their payment package of choice, but would enjoy lumpsum payment, review monthly pensions, monitor retirement savings account balances, as well as transfer pension balances to beneficiaries in the case of the demise of the customer”.
He stated further that why programmed withdrawal is irresistible to retiree customers is that it “operates for as long as the RSA balance can accommodate.
“Even when the balance in the account is depleted, funds are placed with Pension fund custodian (PFC) and are unaccessible to pension fund administrators (PFA) and the PFCs invest only with the instructions from their PFAs”.
He reiterated that PAL Pensions’ coverage include full access payment, comprising programmed withdrawal, enbloc, medical grounds etc; temporary access of 25% Iumpsum, additional voluntary contributon (AVC), death benefits, legacy funds and NSITF; State refunds, gratuity payments and micro pensions to incorporate those in the informal sectors.
While fielding questions from the audience, he assured them of the transparency of the firm, saying that customers can monitor their retirement savings account balances through multiple channels of engagements, adding that retirees can decide if their pensions should be paid on monthly or quaterly basis.
The event, which had retirees fill the hall to its capacity, also had health professionals to engage them on the need for proper and constant checkups so as to be in good health in order to enjoy their pensions.
Representing Hygeia Health Management Organization at the event, Dr. Odum Chindimma Obinna stressed that at retirement age, health should be properly taken care of, noting that “old age comes with a lot of diseases and early detection could help health professionals to manage such situations”.
While narrating his experience as a retiree, Mr. Udeme Ekong testified that he had gotten this lumpsum payment after retirement and is constantly receiving his monthly pension. He added that his funds keep growing from accumulated interest and his
pension fund administrator is always swift at his call, recounting that he was even invited by PENCOM for reviews.
Others praised PAL Pensions for keeping close contact with their customers, especially retirees, urging that forums of such should be organized more frequently.
The Rivers State Chief Judge, Justice Simeon Chibuzor Amadi, says the state judiciary has a total of 23,870 cases pending in various courts in the State.
This figure includes all cases pending in Magistrate, High, and Customary Courts, as well as Customary Court of Appeal in the State.
Justice Amadi stated this while presiding over a special court session held to mark the comencement of the 2024/2025 new legal year held at the auditorium of the High Court in Port Harcourt, Thursday.
The State Chief Judge, while giving the breakdown of performances by the Judiciary in the last year ended, revealed that the stastics of the cases brought before the courts from October 30, 2023 to 30th September 2024 is 31,886, while cases filed stood at 14,791 and cases disposed in the period under review is 22,725.
He further disclosed that the State Judiciary and the customary courts generated a total of #525,322,478,83 as revenue in the last judiciary year under review.
He described the special court session as an annual ritual of the judiciary marked to herald the beginning of a new legal year, stressing that it affords the judiciary and all stakeholders the needed opportunity to take stock of the activities of the judiciary in the past one year in order to improve, with a view to strengthening the justice administration.
The number one state judiciary officer stated that the judiciary had undertaken a lot of capital infrastructure in the year ended to ensure the comfortablility of the workers and judicial officers, and announced that additional high courts would be constructed at Okehi and Degema to ease the challenges of numerous cases coming from such jurisdictions.
Justice Amadi further disclosed that the state judiciary has a total of 51 judges, 57 magistrates, 30 Chairmen of customary courts, and 60 presiding members, adding that the state judiciary has 12 judicial Divisions, 37 magisterial Districts, and 30 customary courts.
“We lost seven judiciary staff, Port Harcourt NBA lost 16, Okehi branch 1, Bori branch 2, and Ahoada branch 2 . Creation of a judicial Division is based on cases filed from such area and we recommend for approval of such and not for politically based”, he stated.
The State Chief Judge used the opportunity to thank the State Governor, Sir Siminalayi Fubara, for the support given to the judiciary in the state, noting that the success recorded by the judiciary in the state was attributed to the huge support from the State Governor.
He also appreciated the efforts of the security agencies and the media for their various cooperation and support and urged them to sustain such in this legal year .
In their various speeches at the event, the State Attorney General and Commissoner of Justice, Dagogo Isreal-Ibroma, SAN; the Leader of the body of Senior Advocates of Nigeria, Rivers State, OCJ Okocha, SAN; and the Chairman of NBA, Port Harcourt Branch, Mrs. Eke Cordelia, commended the achievements recorded by the state judiciary and urged that more measures be put in place to enhance speedy dispensation of justice.
The special court session was preceded by a church service.
By: Akujobi Amadi
A religious body in Rivers State, the House of Jesus Christ Ministries, has appealed to the warring politicians in the State to stop the orgy of violence over leadership supremacy and embrace genuine dialogue.
This is contained in a recent statement by the Parish Church Council (PCC) meeting of the church.
The statement, which was signed by the General Overseer, Apostle Joseph Emmanuel; Secretary, Evangelist ThankGod Akpanowoh; Parish Women Leader, Mrs. Promise Aniebet William; and Parish Evangelist, Elder Aniefiok Benneth, noted that the spate of violence witnessed across the state has taken unimaginable dimensions with the recent killings, wanton destruction of properties, and the burning down of Council Secretariats.
It said if care is not taken, the crisis could extend to homes, and therefore called on the warring parties to stop and gove room for a lasting solution.
Blaming the Federal Government under the watch of President Bola Tinubu, who it said had been seemingly passive in handling the political difference between the former Governor of the State and Minister of the Federal Capital Territory, Chief Nyesom Wike and his successor, Governor Siminalayi Fubara.
“The kind of crisis we are seeing cannot be rationalised. Whether in Rivers or Lagos, whether we are talking of state violence of political upheavals rocking the state, we plead as a church with the contending politicians to pull back their hatchets of indifference for the sake of peace, unity, stability and progress, and allow the possibility of genuine dialogue to begin, and lasting peace restored”, the church said.
Noting that the xurrent wind of democracy blowing in the state is one of the legacies of Governor Siminalayi Fubara and others who preach peace, love and development in the state, the Church cautioned against further crises “in the once peaceful state for posterity”.
It urged the current politicians in the country to emulate the peaceful disposition and virtues of Governor Siminalayi Fubara, which is instrumental to the prevailing peace in the state, in the face of continued provocations.
By: Bethel Toby
Rivers State has topped the performance chart in the implementation of the Nigerian Community Action Resilience And Economic stimulus (NG -CARES) programme in the South-South and Nigeria.
This was contained in a report released at the just-concluded two-day peer learning and experience sharing event in Port Harcourt.
According to the report, Rivers State performed excellently in all aspects of the programme implementation.
The state was followed by Delta State, which emerged second both in the South-South and the country at large.
Meanwhile, the World Bank has approved an additional $500million for the extension of the programme for the next three years.
World Bank Task Team leader, Dr.Lire Ersado, said at the event that the programme has lived up to expectations as it has gone along way to alleviate the sufferings of millions of poor and vulnerable Nigerians.
Ersado, who was represented by Professor Folorusho Okumadewa, said NG CARES has gotten the right strategies and approach in making sure that poor and vulnerable Nigerians can smile.
He said the programme, which was initially setup to address suffering caused by the COVID-19 pandemic, is even more relevant today with a view to addressing the plights of Nigerians affected by flood and other natural disasters.
Ersado said the Port Harcourt meeting, which is the sixth in the series of meetings held across the country, will provide opportunity for all states in the country to cross check their performances with each, as well as learn from the successes and failures of each other.
Also speaking, Rivers State Commissioner for Commerce And Industry, Barrister John Otamiri, said the programme was in line with the State Government programme of alleviating the sufferings of the people.
He also said the government is ready to partner with NG CARES to alleviate the sufferings of the poor and vulnerable in the society.
Otamiri said also assures that Rivers State is safe for investment.
While reeling out its performances, National Coordinator, NG CARES, Dr. Abdulkarim Obaje, said the world Bank is passionate about the programme , adding that the bank has graciously extended the programme for another three years with an additional $500 million.
He said within the last three years $750 million was disbursed to the 36 states and FCT in 160 delivery platforms.
Obaje added that 9.2 million poor and vulnerable Nigerians also benefited from the programme across the country in the last three years.
Earlier, Rivers State Coordinator, RiV CARES, Mrs. Ephraim George Imaonyani, commended the delegates for choosing Rivers State for the South-South meeting.
By; John Bibor
