– N754b paid in 7 years
By Our Correspondent
Awka- THE Pensions Transitional Administration Directorate, PTAD, an arm of the National Pension Commission, said yesterday in Awka that the welfare of Nigerian pensioners remained sacrosanct, explaining that measures had been put in place to make regular payment seamless.
This came as the directorate said it paid N754 billion monthly to over 226,000 pensioners between January, 2015 and December, 2022.
Speaking at the South East stakeholders engagement forum for pensioners from the five South East states, the Executive Secretary of PTAD, Dr Chioma Ejikeme said the organization’s determination to change the narrative as far as pension administration under the Defined Benefits Scheme (DBS) in Nigeria is concerned, is irrevocable.
According to her, PTAD is confident that President Bola Tinubu, given his well-known and commendable antecedents in pension matters, will continue to make pension payment a first-line charge.
“We have already started witnessing continued prompt payment of monthly pensions to our esteemed pensioners. We cannot afford to go back to the time when the DBS pensioners were owed months of pension arrears and their needs pushed to the back-burner.
“At the Pension Transitional Arrangement Directorate, we are aware of the importance of carrying our pensioners and stakeholders along in what we do; and this is why we organize this kind of forum to interact with you, keep you updated on our activities, as well as our future plans, and most importantly, get your feedback.
“It is pertinent to note that PTAD has intentionally and consistently been working on achieving positive and sustainable change in the DBS Pension management for the almost 10 years of its operation.
“You may recall that the Defined Benefit Scheme in the past was fraught with allegations of fraud, corruption and inefficiencies prior to the establishment of the Directorate. “However, the processes and controls that have been put in place since the establishment of PTAD have contributed immensely to the change being witnessed today in the management of the defined benefit pension scheme.”
She recalled that since the last stakeholders forum in Enugu in January 2022, PTAD has carried out a series of activities. These include:
*complete payment of arrears arising as a result of the consequential adjustment to pensions as a result of the increase in minimum wage of April 2019 to the four operational departments in the Directorate;
*complete liquidation of the 126 months outstanding liabilities due to ex-workers of Nigeria Reinsurance Corporation;
*complete payment of the 219 months of inherited liabilities to ex-workers of New Nigeria Newspaper Limited;
*complete payment of the 100 months of inherited liabilities to Ex-workers of NICON Insurance;
complete payment of the 96 months of inherited liabilities to Ex-workers of Delta Steel Company;
*implemented the 9.7% increment to ex-PHCN workers with attendant arrears paid; and
* paid a total of 48 months of the 84 months
