PTAD Spends N96 Billion On Pension Allowances

by on September 9, 2020

The Pension Transitional Arrangement Directorate, PTAD, on Wednesday disclosed that it has spent N96 billion on pension allowances to its beneficiaries in the last one year.

Executive Secretary of PTAD  Chioma Ejikeme made this known while addressing a press conference in Abuja.

She revealed that asides the completion of the nationwide verification exercise for the Parastatal Pensioners, PaPD, and continuous verification, it has ensured the regular payment of monthly pension benefits to pensioners across the four Operational Departments which includes  Police, Customs, Immigration and Prisons, Civil Service and the Boards of Trustees of Parastatals and Agencies.

She said, “Between July 2019 and August 2020, PTAD paid a total of over N96 billion Naira across all the Operational Departments. The sum of over N77 billion was paid as monthly pensions payments to 244,643 pensioners as of July 2020. 87,842 pensioners were paid arrears and gratuities of over N19billion.

“The sum of over 670 million was paid to 418 Next of Kins of deceased pensioners. The above payments include the balance of 33 percent arrears for the Parastatal Pensioners which had been outstanding since 2010 and were fully paid to the Pensioners and NoKs in November/December 2019.

“The Directorate made payments in December 2019 as well as in the 2nd and 3rd quarters of 2020. This payment was made to various groups of pensioners to reduce the inherited liabilities from the News Nigeria Newspapers, NICON insurance, Nig-Reinsurance, Delta Steel Company, NITEL, and NAHCO.”

“PTAD has sent the list of these pensioners to the Pension Unions/Associations/Agencies and the information is also on the PTAD website to enable pensioners who are on the list and alive to make themselves available for verification.

“Deceased pensioners and unresponsive pensioners on the list will be removed from the payroll from October 2020.

“In 2019, PTAD collaborated with Nigeria Interbank Settlement System (NIBSS) on Bank Verification Number (BVN) Authentication.

“The NlBSS BVN validation exercise led to the suspension of 5,834 pensioners from the payroll. However, 2,416 of those removed have been restored after undergoing positive review and validation.”

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