GNI Assures Retirees of Timely Payment for Additional Pension Inflows

Great Nigeria Insurance (GNI) has reassured retirees that any additional pension inflows due to them will be paid promptly once the funds are received by the company. The assurance was given during the third GNI Retirees Experience Forum in Lagos, addressing concerns arising from a circular issued by regulators.

The National Pension Commission (PenCom) and the National Insurance Commission (NAICOM) clarified that Pension Fund Administrators (PFAs) and Retiree Life Annuity Providers must notify retirees of new deposits. Inflows of N100,000 or less should be paid directly into retirees’ bank accounts. For amounts above N100,000, retirees receiving at least 50% of their final salary can choose a lump sum or use it to purchase an additional annuity. Those receiving below 50% must first use the inflow to raise their annuity to 50% before accessing any remaining balance.

GNI Managing Director, Mrs. Roselyne Ulaeto, assured retirees, “Once the inflows promised by the Federal Government arrive, the N32,000 mentioned will be credited to your accounts immediately. Notifications will be sent via email or phone alert.” She highlighted GNI’s commitment to ensuring reliable and consistent monthly payouts, emphasizing the company’s dedication to a dignified and peaceful retirement for all annuitants.

Mrs. Olaseni Eze-Okoroafor, Head of the Inspectorate Department at Lagos State Pension Commission (LASPEC), commended GNI’s service to retirees, praising the company’s proactive approach to engagement and support despite economic challenges.

Several retirees raised questions on how the additional inflows would apply, especially regarding state civil service retirees, and praised GNI for its responsiveness and support.

The forum also included a health segment led by Dr. Bukola Atum, who encouraged retirees to adopt healthy eating habits, take prescribed medications on time, and maintain regular doctor visits.