WORKERS FAKE DEATHS TO GET PENSION BENEFITS

The National Pension Commission has vowed to go tough on relatives, workers, and retirees who fake the deaths of contributors to the Contributory Pension Scheme in order the get the benefits entitled to deceased persons.

To ensure that a worker is truly dead apart from other means of verification, PenCom has also asked the banks to close the accounts of reported dead persons so that they would not be able to operate bank accounts again in the country.

The pension industry’s regulator decided on this move due to growing incidences of fake deaths being organized to get out the balances in the Retirement Savings Accounts of reported dead workers.

The Head, Benefits & Insurance Department, PenCom, Obiora Ibeziako, disclosed this while speaking on the administration of retirement benefits and efforts to safeguard the pensions of workers.