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Beware of fraudsters, PFA raises alarm

A leading Pension Fund Administrators (PFA) in the country has said it is being impersonated by some unscrupulous individuals.

The fraudsters have been asking pension contributors and retirees to pay money to expedite their retirement benefits processing or for a Ponzi investment scheme.

The PFA has, however, cautioned its Retirement Savings Account (RSA) holders not to give money to anyone for any pension issue that they may have.

In a statement the PFA said: “It has come to our notice that certain unscrupulous individuals, attempting to impersonate or misrepresent the the PFA brand, mandate customers to pay money to expedite their retirement benefits processing or for a Ponzi investment scheme.

“Such offers and claims are fraudulent and we urge you not to respond to such request. Be informed that we shall not make such request or mandate an RSA holder to make payment for retirement benefits processing or for any services it renders.

“Applying for retirement benefits is the right of every eligible Retirement Savings Accounts holder, under the conditions as specified by the National Pension Commission (PenCom).

‘’All benefits’ payment applications submitted by our customers are handled strictly in line with the PenCom regulations for processing of retirement benefits. We, therefore, advise you our customers, to not fall victim of these fraudsters. Should you want to report any act of these fraudsters, please do not hesitate to do so.’’

Source: The Nation

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