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PAL Pensions Sensitises Retirees On Industry Reforms

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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.

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IYC Demands Apology Over Arrest Of Soboma Jackrich

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The Elders Council of the Ijaw Youth Council (IYC) has demanded for an apology from the security agencies over the recent invasion of the residence of Ambassador Soboma Jackrich where two of his aides were killed.
The council said this in a press release made available to newsmen in Port Harcourt.
Signed by Elder Afonya Horsefall, Chairman Ijaw Youth Elders Council, KalabariSekpangi, said the military, by the invasion has trampled on the inalienable rights of its leader.
According to the organisation, “the wanton destruction of his property and the killing of aides is repugnant to natural justice and must be restituted.
It stressed the need for the security agencies to be professional in their approach to security, adding that every action of the security agencies must be within the ambit of the law.
The group described Ambassador Soboma Jackrich as a prominent Ijaw leader who has contributed immensely towards the development of the Niger Delta and the relative peace in the region.
The IYC also called on President Bola Tinubu and Governor Siminalayi Fubara to come to the aide of the Niger Delta people by ensuring security and development in the region.

By: John Bibor

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Rivers

Fubara Has Demystified Governance-Elder Statesman

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As Governor Siminalayi Fubara’s administration is set to mark itsone year anniversary, an elder statesman, Sir Fubara Hart, says governance in Rivers State under the governor has been demystified.
Hart, two-time House of Representatives aspirant, therefore, called on Rivers people to rally round the Governor in show of support to achieve the desired objective.
Hart, in an interview in Port Harcourt, said under Governor Fubara, infrastructural development and human capital development are given .maximum attention they deserve for the wellbeing of the citizenry.
He said available evidences abound in the State, judging from the thanksgiving rallies organised by the Simplified Movement, saying it is a strong indication that Rivers people are pleased with the wave of development in the State.
He noted that the spread of projects across the nooks and crannies of the State, unlike in the past, has endeared the Governor to the people who are celebrating him.
Hart said under Governor Fubara, Rivers, people can feel a sense of belonging, as governance is being given a human face through the distribution of social amenities across the board.
He maintained that it would be appropriate to support Governor Fubara, rather than distracting him, saying Governor Fubara has shown his determination to change the fortunes of the people, especially the unreached, among the populace .
“In the past, it wasn’t like this, a scenario where one man divided and cornered the wealth of the people is over. Rivers people are pleased, being carried along and being allowed to contribute to the growth of the State.
The multi-billion naira Port Harcourt Ring Road; Trans-Kalabari road project; the low cost housing units; Songhai farm rehabilitation; and job creation can be described as the monumental achievements Governor Fubara has recorded.
“Gone are the days projects are sited in Obio/Akpor Local Government Area alone. Rivers people can now see projects in all parts of the State. We appeal to detractors to allow Governor Fubara serve his people, give him maximum cooperation as it was given to Wike and others who had ruled the State. Others ruled for eight years, so nothing will stop our own.
Governor Fubara is one of the best things that has happened to Rivers State, as his peaceful disposition, accessibility and open-door policy are hallmark of leadership. He came for Rivers people, as seen in his actions and conduct. Anyone fighting him is an enemy of Rivers people and should be jettisoned,” he said.
Hart said the former Governor of Rivers State, Dr Peter Odili was right by endorsing Governor Fubara as the political leader of the State as provided in the PDP Constitution.
The PDP meant well by enshrining it in his Constitution, which the All Progressives Congress (APC) borrowed to implement.
The elderstatesman, therefore, appealed to all PDP members to respect the party’s Constitution as it is supreme.
He urged the 27 lawmakers led by Hon Martin Amaewhule to know that they are no longer lawmakers in the eyes of the law as any law made by them cannot stand.
While urging them to desist from being used by one selfish politician to destablise the peace existing in the State, Hart pleaded with the Governor to remember Bonny Local Government Area in the award of road projects, as Bonny internal roads are begging for attention.

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Monarch Lauds Fubara Over Solicitor-General’s Appointment

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The Eze Oha Evo III of Evo Kingdom, King Leslie Eke, has praised the Rivers State Governor, Sir Siminalayi Fubara over the appointment of Mrs Ibiwari Charity Clapton-Ogolo as Permanent Secretary and Solicitor- General of the State.
Eke  said this at a press briefing to mark his birthday at his palace in Woji in Obio/Akpor Local Government Area.
He said Clapton-Ogolo being a seasoned lawyer will do as expected in an attempt to project and defend the interest of the people.
According to him, such opportunity will also reduce the work-load on the office of the Attorney -General of the State.
The traditional ruler also said the appointment will aid in prompt delivery of justice in the State.
The appointment, he noted, has further demonstrated the Governor’s strength in governance of the State and not weakness as argued in some quarters.
He said those who are not in tune with the modern ways of governance will always be at the sea at each step taken by Governor Fubara.
The Governor, he further explained, is full of wisdom and is prepared to better the lots of Rivers people.
“I am at home with the Governor’s leadership style. He is calculative and he always hits the nail on the head. Well, people are free to say anything they like, but for me, the Governor is a goal getter”, he said.
He re-emphasised the intention of the entire Evo Kingdom’s undiluted support for the present administration as he prayed God to continue to guide and direct the Governor aright in order to enable him deliver credibly on the mandate given him.
It would be recalled that the State has for some time operated with only the office of the Attorney-General of the State until the recent appointment of the Permanent Secretary and Solicitor-General of State by Governor Fubara.

By: King Onunwor

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