This refers to withdrawal of the total RSA balance where a retiree has a total RSA balance of Five Hundred and Fifty Thousand Naira (N550, 000.00) or less at final RSA consolidation. A Retirement Savings Account (RSA) holder upon attaining retirement age or age 50 is eligible for this payment.
Application will be processed if all required documents are provided.
- The retiree shall also provide the following documents to PAL for sighting at any of our offices.
- A notification of retirement issued by his/her employer
- Passport photographs (Two)
- Proof of age i.e. Birth certificate or sworn declaration of age
- Confirmation letter by the ex-employer stating the pension remittance status of the contributor.
- Bank statement
- Means of identification
- Once all the above documents have been received PAL sends payment request to PENCOM for approval
- Upon approval, UBA Pension Fund Custodian credits clients account.