PTAD Clears Over N17.73 Billion of Debts Inherited from Former Government Agencies—Findings

As the Nigeria Pensioners Union (NUP) continues to call on state governments to save the lives of their counterparts in the states by paying the many months of pension arrears owed to them, the findings revealed that the Pension Transitional Arrangements Directorate (PTAD) paid monthly pension to all retirees on its payroll.

The pension agency recently bragged that it does not owe a monthly pension to any retiree on its payroll. Our reporter, in search of the truth, discovered that the Management has, in accordance with its mandate, transformed the management of the Defined Benefit Scheme (DBS) and ensured that the monthly payment of the pension has been fast, consistent and uninterrupted since 2014 when she took over. pension payment.

This standard was surprisingly also maintained even during the COVID-19 pandemic lockdown in 2020.

According to research, PTAD as of June 2022, paid out a total of N9,254,780,094.96 as monthly pension to 229,256 verified and eligible retirees in the departments of Civil Service, Police, Parastatals, customs, immigration and prisons, while N351,264,285.17 was paid. pension arrears to 3,089 retirees.

It has also been discovered that the incidences of pension payment failures in June 2022 to pensioners from all pension departments have also been represented on the GIFMIS payment platform and confirmed by the pensioners concerned.

Furthermore, PTAD, through the commitment of President Muhammadu Buhari, the Minister of Finance, Budget and National Planning, the Office of the Accountant General of the Federation and the Central Bank of Nigeria in December 2021, completed the payment of all inherited debts owed to the ex-workers of two of the defunct agencies, namely 287 pensioners of Nigeria Reinsurance Corporation totaling N948,054,514.20 and 509 pensioners of New Nigeria Newspapers Limited, received a total of N2,134,845,781.70.

A significant portion of unpaid debts was also paid to former workers of three defunct agencies: 11,239 NITEL/MTEL pensioners received a total of N11,685,740,544.38; 1,046 NICON Insurance Corporation retirees were paid

N1,140,333,806.20 while 3,657 retirees of Delta Steel Company Limited received N1,821,842,463.93.

In the same vein and following the implementation of a 9.7% increase for former PHCN workers, PTAD paid out a total of N6,889,617,482.86 in December 2021 to all 9,389 eligible retirees of the former PHCN.

In addition, PTAD has completed the payment of all pension arrears owed to retirees following the consequential pension adjustment approved by the President in April 2021 but with effect from April 2019.

It is also discovered that as of December 2021, PTAD has paid all 24 month arrears due to retirees of three pension departments with the exception of Civil Service retirees whose three month outstanding balance was paid in May 2022 .

The agency once revealed that President Muhammadu Buhari’s commitment, between 2015 and 2022, was the reason why he managed to reinstate 40,918 verified eligible pensioners into the monthly pension payroll, paid 40,332,909,500, 42 N as pension arrears to 161,122 verified eligible pensioners in the four pension departments. and paid N7,134,360,136.45 as final pension entitlements to close relatives of deceased pensioners in the four pension departments.

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Ashley C. Reynolds