{"id":88863,"date":"2021-11-22T13:10:11","date_gmt":"2021-11-22T12:10:11","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=88863"},"modified":"2021-11-22T13:10:11","modified_gmt":"2021-11-22T12:10:11","slug":"pensions-8763-annuitants-receive-n26bn-lump-sum","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/pensions-8763-annuitants-receive-n26bn-lump-sum\/","title":{"rendered":"Pensions: 8,763 Annuitants Receive N26bn Lump Sum"},"content":{"rendered":"<div id=\"m#msg-f:1717107293997249556\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\" style=\"text-align: justify;\">No fewer than 8,763 annuitants\u00a0 received a total sum of N25.92 billion as lump sum in the 2020 financial year.<\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \">\n<div class=\"clear\">\n<p style=\"text-align: justify;\">Similarly, the pension industry paid N57.22 billion as premium to insurance companies in 2020.<\/p>\n<p style=\"text-align: justify;\">Meanwhile, the total premium from Retiree Life Annuity (RLA) transferred to underwriting firms\u00a0 from inception of the Contributory Pension Scheme (CPS) to December, 31, 2020 stood at N464.53 billion<\/p>\n<p style=\"text-align: justify;\">According to the National Pension Commission (PenCom), the total number of retirees on annuity increased from 74,805 in 2019 to 83,568 in 2020, while\u00a0 the breakdown of the total number of retirees showed that the FGN retirees accounted for 49,368 (59.07 per cent),<\/p>\n<p style=\"text-align: justify;\">Similarly, the States retirees accounted for 10,494 (12.56 per cent) while the private sector retirees accounted for 23,706 (28.3 per cent).<\/p>\n<p style=\"text-align: justify;\">However, the cumulative monthly annuity being received by retirees from inception to December 31, 2020 was N4.62 billion, after the receipt of cumulative lump sum of N127.62 billion<\/p>\n<p style=\"text-align: justify;\">In the second quarter of 2021, the regulatory body said, it granted approval to 1,708 retirees under the Retiree Life Annuity, adding that, the total lump sum of N4,586.16 million was approved for payment to the retirees, while the sum of N12,346.89 million was approved for payment to 14 Retiree Life Annuity Providers as premium in return for total monthly\/quarterly annuities of N122.46 million.<\/p>\n<div id=\"m_-8933456768905967444ymail_android_signature\" style=\"text-align: justify;\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>No fewer than 8,763 annuitants\u00a0 received a total sum of N25.92 billion as lump sum in the 2020 financial year. Similarly, the pension industry paid N57.22 billion as premium to&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":88869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-88863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pensions: 8,763 Annuitants Receive N26bn Lump Sum - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/pensions-8763-annuitants-receive-n26bn-lump-sum\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pensions: 8,763 Annuitants Receive N26bn Lump Sum - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"No fewer than 8,763 annuitants\u00a0 received a total sum of N25.92 billion as lump sum in the 2020 financial year. 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