African Alliance annuitants decry pension payment default, seek FG’s intervention

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Retirees getting their pensions from African Alliance Insurance Plc (AAI)have called on the Federal Government to intervene in their non-payment challenges with the insurer.

Shareholder Activist & Cofounder, Nigerian Shareholders Solidarity Association, Gbadebo Olatokunbo, one of the retirees that placed their annuities with AAI, lamented that retirees had not been paid for months.

In a statement titled, ‘AAI and suffering of their annuities’, he sought urgent intervention before poverty would send the annuitants to untimely death.

He stated, “Really,the annuities [Contributory Pensioners] with African Alliance Insurance are totally confused on what the future shall look like,because for close to five months May-Sept,2024 there have been no payment of their Annuities with the company, while there is no hope of when next there will be any payment; and all efforts had resulted to nothing because both PenCom and NAICOM cannot deny their knowledge of the plights of the Contributory Pensioners in the AAI without any solution in site.

“Can you please bring it to the attention of the FGN, before another embracing situation on slow death of pensioners on our streets commence in Nigeria; so that FGN can intervene with necessary reliefs to the poor pensioners and find permanent solution on pensioners annuity problems, please help our people were really suffering.”