Annuitants with African Alliance Insurance Plc have taken their grievances over seven months of unpaid pension benefits to the federal government, seeking urgent intervention to alleviate their financial distress.
The affected pensioners have called on President Bola Tinubu to step in and ensure that their long-overdue payments are settled. They emphasized that the delay has left many of them struggling to meet their basic needs in retirement, with some of their colleagues reportedly passing away while awaiting their benefits.
To amplify their concerns, the annuitants have formed cluster groups and are leveraging personal contacts to push for a resolution. Speaking to Inspenonline, one of the affected retirees lamented the hardships faced over the past seven months without any source of income.
“Life has been extremely difficult for us. We have been left without any financial support for months, and unfortunately, some of our members have died while waiting for their rightful benefits,” the retiree stated.
He urged the National Insurance Commission (NAICOM) to wield its regulatory authority to ensure that African Alliance Insurance Plc fulfills its obligations. Additionally, he proposed the establishment of a body akin to the Nigeria Deposit Insurance Corporation (NDIC) to safeguard policyholders and annuitants from similar predicaments in the future.
As the plight of these pensioners gains attention, stakeholders in the insurance industry and regulatory authorities are being called upon to take immediate action to prevent further suffering among retirees relying on annuity payments for their sustenance.
