Union bank of Nigeria Plc has continued the transfer of legacy pension for post 2005 pensioners to their Pension Fund Administrators in line with the Pension Reform Act, 2004.

A statement by the bank on Friday said the PFAs would consequently take full responsibility for pension payments for the affected pensioners with effect from this month.

It said the affected pensioners had been informed via letters and SMS.

The statement said, “This exercise is a further push by Union Bank to ensure it fully complies with the Pension Reform Act of 2004.

“On completion, this category of the Union Bank pensioners would have been integrated into what had been achieved with the current employees of the bank. It will be a continuous exercise until all the pensioners are covered.”

Source: Punch