Upon the demise of a Retirement Savings Account (RSA) holder,  the personal representative of the deceased or any other person as may be directed by a court of competent jurisdiction will be entitled to the client’s RSA balance upon submission of a Will admitted to Probate or Letter of Administration where the client died intestate.

The employer or next-of-kin or the representative of the deceased shall formally notify any Legacy Pension Office of the demise of the employee/retiree.

The next-of-kin is entitled to the group life insurance benefit as mandated by law to deceased contributors who died in active service. The group life benefit will be paid by the employer directly to the next-of-kin.

Note: Beneficiaries of Deceased RSA holders with zero balances from the public sector are expected to fill the Death Notification Form and send to the last known employer of the deceased. The form (or any qualified person) is expected would be filled and forwarded to PenCom for the reconciliation, processing and remittance of the deceased’s benefits.

 

MISSING PERSONS

Where a Retirement Savings Account holder is reported missing, the employer or Next-of-Kin (NOK) shall notify the Pension Fund Administrator after a minimum period of 12 months. The National Pension Commission would upon notification set up a Board Of Inquiry to ascertain the circumstances of the client’s disappearance.  After investigations have been concluded by the Board Of Inquiry and the client is presumed dead, the personal representative(s) of the missing client or any other person as may be directed by a court of competent jurisdiction  will be entitled to the client’s RSA balance upon submission of a Will admitted to Probate or Letters of Administration.

Benefits Accessible

Any person or body as may be directed by a court of competent jurisdiction will be entitled to the client’s RSA balance upon submission of a Will admitted to Probate or Letters of Administration. Requirements to be fulfilled by the Next-of-Kin.