Find answers to the 25 official inquiries about Salary Protection Shield subscription, premium terms, and claim payouts.
How can I enroll for Prestige Salary Protection Scheme (PSPS)?
Kindly subscribe from our website by filling the Expression of Interest (EOI) form.
Is there an age limit for signing up for this policy?
You must be 18 years and above to apply for this scheme.
I am a student; can I enroll for this policy?
Everyone is eligible to apply for this scheme as long as you are in full-time/permanent employment.
Is there a salary limit for an enrolee of the scheme?
Yes. The limit varies from industry to industry. Please call our hotline to know the minimum salary currently applicable to your industry.
I am self-employed; can I sign up for PSPS?
No, the scheme covers only permanent employees in paid employment.
What does it mean to be disqualified or penalized? What can cause a disqualification?
An enrolee may be disqualified if moral issues arise. Moral issues include falsified job reports, false salary declarations, or mock/collusive terminations.
How do I know if my application has been received?
You will receive an automated confirmation email from us immediately upon submission of your online application form.
How will my monthly premium be paid or deducted from my account?
You will be provided a Debit Mandate form during signup that enables automated monthly premium collections on your agreed date.
How flexible is premium payment? Can I pay monthly, quarterly, semi-annually, or yearly?
For payroll consistency, monthly payments are highly recommended. However, quarterly, semi-annual, or annual billing options are fully supported.
Is there a discount in premium if we sign up as a group?
Yes, corporate or professional group discounts are applicable with a minimum membership of 50 subscribers.
Why is my premium different from my colleague earning the same salary?
Subscribers' individual risk profiles differ. Premium rates take into account job industry risk, employment stability factors, and occupational category history.
What happens after I apply but later decide not to continue with the scheme?
PSPS provides a 30-day "free-look" window where subscribers can opt out of the scheme without any penalty and get a full refund of any premiums paid.
What information is required in order to process my claim?
To initiate a claim, enrolees must log in to their dashboard and upload their official redundancy/layoff letter, recent payslips, and employment documents.
What happens when PSPS receives my claim submission?
Our transition verification team begins claims verification immediately. Approved monthly benefits are disbursed directly to your registered bank account.
On what condition(s) will PSPS not pay a claim?
The shield does not cover: voluntary resignation, retirement, dismissal due to fraud or misconduct, or job losses occurring during the initial 12-month waiting window.
What if my claim has been declined and I do not agree with the decision?
Enrolees may formally present their appeal to our Claims Complaint Committee (CCC) by sending a case review file to pspsclaims@prestigeassuranceplc.com.
How are payments made once the claim is approved?
Once approved, benefit payments are transferred directly to your bank account monthly, or enrolees may pick up cheques at our nearest branch.
What can I do if I am experiencing technical difficulties on the website?
If you encounter any dashboard issues, please call our direct PSPS desk lines on +234 705 665 0001 or +234 811 320 0001 for immediate assistance.
Is applying online for PSPS benefits secure?
Yes. Our platform uses standard end-to-end encryption. All enrolee salary data and documents are stored securely and processed in compliance with NDPR rules.
After benefiting from this scheme and getting a new job, can I still continue on this scheme?
Yes, enrolees can continue cover. Simply update your profile with your new employer, and we will recalculate your adjusted premium rate.
What should I do if I cannot report or be available to pick my claims benefit as instructed?
If you cannot physically pick up a benefit cheque, we will safely hold it, or you can switch to automated direct bank transfers.
What happens if I quit my job?
If you quit your job willingly, enrolees are not entitled to receive any transition benefits under the PSPS policy rules.
What happens if I am fired from my job?
If you are fired due to downsizing, redundancy, or company liquidation, enrolees can claim benefits immediately if they have finished the 12-month waiting period.
How do I submit my paper record of Employment and other documents required when I apply online?
Subscribers can scan and upload PDF records directly to the dashboard, or send hard copies to our Victoria Island, Lagos headquarters.
When can I make a claim?
Claims are made immediately upon involuntary layoff or redundancy, provided the subscriber's policy is active and has completed the 12-month paid waiting period.
