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Checklist For 25 Application

To be eligible for a 25% withdrawal from your retirement savings account (RSA), your application must include the following documents: 1) A completed and signed application form stating you are applying for 25% of your RSA balance. 2) Valid photo identification like a passport or drivers' license. 3) Your birth certificate or age declaration from court. 4) An exit letter from your employer stating your last date of employment and reason for leaving.

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570 views

Checklist For 25 Application

To be eligible for a 25% withdrawal from your retirement savings account (RSA), your application must include the following documents: 1) A completed and signed application form stating you are applying for 25% of your RSA balance. 2) Valid photo identification like a passport or drivers' license. 3) Your birth certificate or age declaration from court. 4) An exit letter from your employer stating your last date of employment and reason for leaving.

Uploaded by

oghale
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Updated 07-May-2015

Check list (requirements) for 25% Application


Applications will ONLY be processed if they include the required documents. If any document is missing, the
application will be considered incomplete and not accepted until the documents have been provided. Please
refer to required document checklist below for your application type. Original documents are required for sighting.

Definitions
ID" means Identification RSA means Retirement Savings Account
SIPML means Stanbic IBTC Pension Managers Limited "Applicant means the person making the application

NOTE: If you have Pre 2004 contributions in your RSA and are eligible to apply, kindly do so before applying for
25%. Once you have been paid 25% of your contributions, you will no longer be eligible to apply for any Pre-Act
contributions.
{Please tick box (X) to indicate all documents provided}

1. Application Form 6. Original Bond Certificate & Clearance


Letter (Employees of Lagos State only)
a) This is the duly completed and signed application a) Original certificate received during Bond ceremony.
form which clearly states the client is applying for 25% b) Retiree is to complete the Lagos States clearance
of his/her RSA balance. process to enable the Government issue a clearance
b) The RSA holders signature on the application must letter to SIPML.
be the same as that on our records. PLEASE NOTE THAT retirees of self-funded Lagos
State institutions are not required to submit bond
2. Passport Photograph certificates.

One passport photograph of the applicant is required. 7. Bank Account Details


The client must fill his/her valid bank account
3. Birth Certificate/Age Declaration
number (not a 3rd partys account) on the application
It is required that the client provides his/her birth
certificate or an age declaration from the Court. form. It is important that account names match what is
PLEASE NOTE THAT the age on the means of on our record to prevent payment returns by the bank.
identity and birth certificate/age declaration must be
same as on our records. 8. Means of Identity
Valid means of ID is any ONE of the under listed:
4. Exit Letter from Employer a) National Identity Card
a) The letter (which should be on the letter head of the b) Valid International Passport
employer) must state the effective date and mode of c) Valid Drivers License
exit. d) *Letter of confirmation of identity from the bank
b) The applicant must have waited for 4 months after (this must be on the banks letter head paper and duly
exit (and still without another job) to qualify for 25% stamped and signed)
application. e) *Letter of confirmation of identity from a Notary
Public (this must be on the notary publics letter head
PLEASE NOTE THAT Lagos State employees who paper and duly signed and sealed)
retire compulsorily can apply if they are still
unemployed after 3 months. *Passport photograph of the applicant must be on the
letter duly stamped by the issuer.
5. Confirmation Letter (Private Sector Clients and
Self-Funded Government Organisations only) PLEASE NOTE THAT the means of ID must have at
A letter will be sent from Stanbic IBTC Pension least six (6) months before it expires and the date of
Managers Ltd (SIPML) to the clients previous birth on the above means of ID must be the same as
employer to confirm remittance of all contributions into the date of birth on our records.
the clients RSA, length of service as well as client's
date of birth. The application can only be processed for
approval from the National Pension Commission on
receipt of the employers response.

If you feel your application has been unduly delayed or are aggrieved by the application process, please notify us through our 24-hours 7 days a week
multilingual contact centre on 01-2716000 or send an email to [email protected]

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