PTAD pays N1.7bn pension arrears to 5,382 newly enrolled

• Concludes computation of benefits for Delta Steel pensioners

The Pension Transition Arrangement Directorate (PTAD), said it recently paid a total sum of N1.7billion being outstanding pension arrears to 5,382 pensioners out of the 7,969 civil service pensioners, who were enrolled into its monthly payroll in March.

Also, PTAD said it has adjusted the monthly pension payments for 10,522 pensioners to reflect their correctly computed monthly pension, based on their employment records. A total of 4,292 pensioners had their monthly pension payments adjusted downward, while 6,230 were adjusted upwards.

The agency also, assured all pensioners under the Defined Benefit Scheme (DBS), who had outstanding pension arrears that payments will be made as soon as the Federal Government allocates and disburses funds, adding that the present administration is committed to the welfare of Nigerian pensioners.

Meanwhile, the directorate said it has concluded the computation of pension benefits for 3,542 pensioners of the Delta Steel Company Aladja (DSCA), in a significant milestone achievement, 13 years after the Federal Government concluded its privatisation in February 2005.

The Executive Secretary, PTAD, Sharon Ikeazor, with her team paid a working visit to Aladja, Warri, in March 2017, to meet with the retirees, and assured them of the Buhari administration’s commitment to their welfare.In November same year, PTAD successfully verified 4,182 regular pensioners and deceased pensioners Next of Kin (NOKs) in an exercise that held concurrently in Abuja, Lagos, and in Aladja.

Following the successful conclusion of the exercise, the Directorate, also announced that 3,542 pensioners, who were cleared by Federal Audit, will be pay rolled in August, and will start receiving their monthly pension for life.The agency also disclosed that the computation, audit and payrolling of NICON Insurance Limited, Nigerian Reinsurance Corporation, and NITEL/MTEL will be completed in due course.