Great Nigeria Insurance (GNI) recently reassured retirees that all outstanding inflows will be credited once the funds arrive. The company gave this assurance at its third Retirees Experience Forum in Lagos. Many attendees requested clarification about a recent regulatory circular on additional pension inflows.
The National Pension Commission and the National Insurance Commission issued a joint directive on managing new deposits for retirees already on annuity. PFAs must inform retirees of fresh payments and pay amounts of N100,000 or below directly into their bank accounts. However, deposits above N100,000 work differently. Retirees earning at least half of their final salary may choose to collect the amount as a lump sum or use it to enhance their annuity. Retirees receiving below that threshold must first increase their annuity before accessing any balance.
GNI’s Managing Director, Mrs Roselyne Ulaeto, assured attendees that payments will be processed immediately after the funds reach the company. She promised that retirees would receive notifications through email or text once their accounts are credited. She also acknowledged the economic difficulties facing retirees and emphasised the company’s commitment to reliable monthly payments.
Other speakers praised GNI for its pension service delivery. Representatives from the Lagos State Pension Commission noted the company’s dedication to customer satisfaction and ongoing support. Retirees raised questions about the applicability of the inflows to state pensioners. Some also expressed gratitude for the company’s service standards and responsiveness. The event also featured a health session encouraging retirees to adopt healthy lifestyle habits and follow medical advice consistently.
