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Compulsory Retirement
Loss of Employment
Retirement on Medical Grounds
Death In Service

Compulsory Retirement
Retirement as stipulated in the Pension Reform Act 2014 is when an employee attains the age of 50 or the retirement age of the organization, whichever is later. The balance can be accessed either by a programmed withdrawal with your PFA or by purchasing an annuity scheme from an approved Insurance company.
Processing Benefits
Before Retirement
AIICO Pension's standard practice is to notify prospective retirees of their upcoming retirement 6 months before the actual date and to get confirmation of this. The following documents must also be submitted along with the confirmation of retirement.
- A letter of notification of retirement issued by your employer.
- A document confirming that the retirement is in accordance with terms and conditions of employment.
- Pay slip or evidence of total annual remuneration.
- Evidence of any accrued pension rights/acknowledgement of indebtedness (if an employee in the private sector), as well as any outstanding pension contribution.
- Official notice of retirement.
Upon Retirement
At retirement, the below listed documents must be submitted to AIICO Pension, which will be forwarded to the National Pension Commission for payment approval.
Note the requirement listed below apply to both programmed withdrawal and annuity applicant.
FEDERAL GOVERNMENT EMPLOYEES
- Letter of application for payment.
- Retirement benefit registration slip
- Copy of last pay slip
- Notification letter of retirement written to your employer
- Notice of acceptance of (Statutory)retirement
- Means of identification:- any of the following:
- National identification card.
- Valid international passport.
- Valid driver's license.
- Permanent Voters Card
- Bank account details:
- Name of bank.
- Branch or location of bank.
- NUBAN Account number.
- Account name.
- Disengagement letter.
- Two passport photograph.
- Mobile line Permanent Residential address/contact details
- Evidence of Age (Birth certificate/Age declaration)
PRIVATE SECTOR EMPLOYEES
- Letter of application for payment.
- Copy of last pay slip
- A copy of evidence of employment
- Notification letter of retirement written to your employer
- Notice of acceptance of retirement
- Means of identification:- any of the following:
- National identification card.
- Valid international passport.
- Valid driver's license.
- Permanent Voters Card
- Bank account details:
- Name of bank.
- Branch or location of bank.
- NUBAN Account number.
- Account name.
- Two passport photograph.
- Mobile line
- Permanent Residential address/contact details
- Evidence of Age (Birth certificate/Age declaration)
All documents received will be forwarded to the National Pension Commission for payment approval.
AIICO Pension will only disburse into the bank details submitted upon receipt of approval from the Commission

Loss of Employment
The Pension Reform Act 2014 allows RSA holders who have lost their employment and are not able to secure another employment after four months can access up to 25% of their balance of their RSA. This loss must however be due to one of the following:
1. Redundancy
2. Termination of employment
3. Voluntary disengagement
The following documents must be submitted to AIICO Pension to process the application for benefits:
- Letter of application for payment.
- Termination/disengagement letter
- Copy of last pay slip
- A copy of evidence of employment
- Means of identification:- any of the following:
- National identification card.
- Valid international passport.
- Valid driver’s license.
- Permanent Voters Card
- Bank account details:
- Name of bank.
- Branch or location of bank.
- NUBAN Account number.
- Account name.
- Two passport photograph.
- Mobile line
- Permanent Residential address/contact details
- Evidence of Age (Birth certificate/Age declaration)
All documents received will be forwarded to the National Pension Commission for payment approval. AIICO Pension will only disburse into the bank details submitted upon approval by the Commission.

Retirement on Medical Grounds
The Pension Reform Act 2014 allows RSA holders who have been certified unfit to work on medical grounds by a qualified medical practitioner or medical board to have full access to their RSA. The medical practitioner must certify that the employee is no longer mentally or physically capable of discharging his/her official duties as contained in his/her employment schedule, due to total or permanent disability.
The following documents must be submitted to AIICO Pension to process the application for benefits:
- A medical certificate issued by a properly constituted Medical Board or a suitably qualified physician; (The Commission shall advise operators in this regard after due consultation with the Medical Association of Nigeria).
- Letter of notification of retirement issued by his/her employer also authenticating the medical certificate; and
- Pay slip or evidence of total annual remuneration.
- Evidence of any accrued pension rights/acknowledgement of indebtedness (if an employee in the private sector).
- Official notice of retirement
All documents received will be forwarded to the National Pension Commission for payment approval.
AIICO Pension will only disburse into the bank details submitted upon receipt of approval from the Commission.

Death In Service
In the event of death in service of an RSA holder, the employer or Next-of-Kin should notify AIICO Pension of the death of the RSA holder in writing.
Documents to be submitted by the Next-of-Kin to enable AIICO Pension discuss details of the deceased, the Next-of-Kin or representative shall provide one of the following documents been a satisfactory means of identification.
- Valid International Passport
- National Identity Card
- Letter of confirmation of identity from his/her bank or a Notary Public.
Once the identification has been confirmed, the below listed documents will be requested from the Next-of-Kin or representative:
- Letter of Administration or Will admitted to Probate
- Certificate of Death/Cause of Death
- Certificate of Registration of Death
- Police Report (if death is by accident)
- Burial Warrant issued by a Local Government Council
- Evidence of Death/Burial issued by an Islamic Community Head or Judge of a Sharia Court.
- Evidence of Death/Burial issued by a Leader of a registered church.
- Copy of obituary poster (if any)
All documents received will be forwarded to the National Pension Commission for payment approval.
AIICO Pension will only disburse into the bank details submitted upon receipt of approval from the Commission.
RETIREMENT BENEFITS
Compulsory Retirement

Compulsory Retirement
Retirement as stipulated in the Pension Reform Act 2014 is when an employee attains the age of 50 or the retirement age of the organization, whichever is later. The balance can be accessed either by a programmed withdrawal with your PFA or by purchasing an annuity scheme from an approved Insurance company.
Processing Benefits
Before Retirement
AIICO Pension's standard practice is to notify prospective retirees of their upcoming retirement 6 months before the actual date and to get confirmation of this. The following documents must also be submitted along with the confirmation of retirement.
- A letter of notification of retirement issued by your employer.
- A document confirming that the retirement is in accordance with terms and conditions of employment.
- Pay slip or evidence of total annual remuneration.
- Evidence of any accrued pension rights/acknowledgement of indebtedness (if an employee in the private sector), as well as any outstanding pension contribution.
- Official notice of retirement.
Upon Retirement
At retirement, the below listed documents must be submitted to AIICO Pension, which will be forwarded to the National Pension Commission for payment approval.
Note the requirement listed below apply to both programmed withdrawal and annuity applicant.
FEDERAL GOVERNMENT EMPLOYEES
- Letter of application for payment.
- Retirement benefit registration slip
- Copy of last pay slip
- Notification letter of retirement written to your employer
- Notice of acceptance of (Statutory)retirement
- Means of identification:- any of the following:
- National identification card.
- Valid international passport.
- Valid driver's license.
- Permanent Voters Card
- Bank account details:
- Name of bank.
- Branch or location of bank.
- NUBAN Account number.
- Account name.
- Disengagement letter.
- Two passport photograph.
- Mobile line Permanent Residential address/contact details
- Evidence of Age (Birth certificate/Age declaration)
PRIVATE SECTOR EMPLOYEES
- Letter of application for payment.
- Copy of last pay slip
- A copy of evidence of employment
- Notification letter of retirement written to your employer
- Notice of acceptance of retirement
- Means of identification:- any of the following:
- National identification card.
- Valid international passport.
- Valid driver's license.
- Permanent Voters Card
- Bank account details:
- Name of bank.
- Branch or location of bank.
- NUBAN Account number.
- Account name.
- Two passport photograph.
- Mobile line
- Permanent Residential address/contact details
- Evidence of Age (Birth certificate/Age declaration)
All documents received will be forwarded to the National Pension Commission for payment approval.
AIICO Pension will only disburse into the bank details submitted upon receipt of approval from the Commission
Loss of Employment

Loss of Employment
The Pension Reform Act 2014 allows RSA holders who have lost their employment and are not able to secure another employment after four months can access up to 25% of their balance of their RSA. This loss must however be due to one of the following:
1. Redundancy
2. Termination of employment
3. Voluntary disengagement
The following documents must be submitted to AIICO Pension to process the application for benefits:
- Letter of application for payment.
- Termination/disengagement letter
- Copy of last pay slip
- A copy of evidence of employment
- Means of identification:- any of the following:
- National identification card.
- Valid international passport.
- Valid driver’s license.
- Permanent Voters Card
- Bank account details:
- Name of bank.
- Branch or location of bank.
- NUBAN Account number.
- Account name.
- Two passport photograph.
- Mobile line
- Permanent Residential address/contact details
- Evidence of Age (Birth certificate/Age declaration)
All documents received will be forwarded to the National Pension Commission for payment approval. AIICO Pension will only disburse into the bank details submitted upon approval by the Commission.
Retirement on Medical Grounds

Retirement on Medical Grounds
The Pension Reform Act 2014 allows RSA holders who have been certified unfit to work on medical grounds by a qualified medical practitioner or medical board to have full access to their RSA. The medical practitioner must certify that the employee is no longer mentally or physically capable of discharging his/her official duties as contained in his/her employment schedule, due to total or permanent disability.
The following documents must be submitted to AIICO Pension to process the application for benefits:
- A medical certificate issued by a properly constituted Medical Board or a suitably qualified physician; (The Commission shall advise operators in this regard after due consultation with the Medical Association of Nigeria).
- Letter of notification of retirement issued by his/her employer also authenticating the medical certificate; and
- Pay slip or evidence of total annual remuneration.
- Evidence of any accrued pension rights/acknowledgement of indebtedness (if an employee in the private sector).
- Official notice of retirement
All documents received will be forwarded to the National Pension Commission for payment approval.
AIICO Pension will only disburse into the bank details submitted upon receipt of approval from the Commission.
Death In Service

Death In Service
In the event of death in service of an RSA holder, the employer or Next-of-Kin should notify AIICO Pension of the death of the RSA holder in writing.
Documents to be submitted by the Next-of-Kin to enable AIICO Pension discuss details of the deceased, the Next-of-Kin or representative shall provide one of the following documents been a satisfactory means of identification.
- Valid International Passport
- National Identity Card
- Letter of confirmation of identity from his/her bank or a Notary Public.
Once the identification has been confirmed, the below listed documents will be requested from the Next-of-Kin or representative:
- Letter of Administration or Will admitted to Probate
- Certificate of Death/Cause of Death
- Certificate of Registration of Death
- Police Report (if death is by accident)
- Burial Warrant issued by a Local Government Council
- Evidence of Death/Burial issued by an Islamic Community Head or Judge of a Sharia Court.
- Evidence of Death/Burial issued by a Leader of a registered church.
- Copy of obituary poster (if any)
All documents received will be forwarded to the National Pension Commission for payment approval.
AIICO Pension will only disburse into the bank details submitted upon receipt of approval from the Commission.