IRREVOCABLE STANDING PAYMENT ORDER
DownloadThe Pension Reform Act, 2004 (the Act) provided that contributions into the NSITF scheme (the Scheme) together with accrued income shall be transferred into members Retirement Savings Accounts (RSAs) after the expiration of the 5 years moratorium i.e. from July, 2009. The Act also provided that the Commission should supervise the transfer.
DownloadRetirement benefits are any entitlements/rights/privileges that accrue to a worker/employee upon leaving the services of an employer for reason of having worked or provided service to the employer. Such benefits could be paid in either lump-sum, periodically or a combination of both. Further still, such arrangements could include multiple benefits and severance arrangements.
DownloadThe requirements of these Guidelines are consistent with the provisions of the Pension Reform Act, 2004 and are also considered enforceable within the industry.
Download