African Alliance Insurance pays annuitants 6 months arrears pension benefits

*PenCom gets kudos for driving the payments

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Chuks Udo Okonta

Many annuitants were enlivened as they were paid six months out of their nine months arrears pension benefits.

While many rejoiced over the payments, some are sad as they only got two months payments.

One of those who got six months payments told Inspenonline that he got the first payment which was for a month on August 14, 2025, which was followed by two months payments made on August 15 and thereafter three months payments on August 21.

Another annuitant who said he had received only two months payments said: “An Acknowledgement of the receipt of two months annuity arrears on the 21, August 2025

“It was a pleasure to receive the above payment yesterday. A total of seven months arrears (February 2025 – August 2025) is yet to be paid. Please, let me have this payment as soon as possible. Remember the terms of my contract with you at the time I joined you.

“Save me from the anxiety of expecting my payment everyday without success.

“I thank you for your attention.” he said.

Speaking on discrepancies on the payment, the six months payments beneficiary urged his colleagues that claimed to have received only two months payments to consult their banks or use mobile banking platforms to verify the payment.

He noted that due to failure of banks in sending payment alerts, most annuitants may be unaware of the payments.

He applauded the role played by the Director-General of National Pension Commission (PenCom) Ms. Omolola Oloworaran, in ensuring the payment, whilst implored her to sustain the push on National Insurance Commission (NAICOM) and African Alliance Insurance Plc in ensuring payment of the outstanding three months arrears and the migration of annuitants to a stable and viable life insurance companies.