PTAD offsets over N17.73bn inherited liabilities of defunct government agencies —Findings

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

The pension agency has in recent time bragged of not owing monthly pension to any pensioner under its payroll. Our reporter, in search of the truth, discovered that the Directorate has, in line with its mandate, transformed the management of the Defined Benefit Scheme (DBS) and ensured that monthly pension payment is prompt, consistent and unbroken since 2014 when it took over pension payment.

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

According to research, PTAD in the month of June 2022, paid a total of N9,254,780,094.96 as monthly pension to 229,256 verified and eligible pensioners across the Civil Service, Police, parastatals, Customs, Immigration and Prisons Pension Departments while N351,264,285.17 was paid as pension arrears to 3,089 pensioners.

It was also discovered that incidences of failed pension payments in June 2022 to pensioners across the pension departments have also been represented on the GIFMIS payment platform and confirmed receipt by the affected pensioners.

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 liabilities due to ex-workers of two of the defunct agencies namely 287 Nigeria Reinsurance Corporation pensioners totaling N948,054,514.20 and 509 New Nigeria Newspapers Limited pensioners were paid a total of N2,134,845,781.70.

A significant portion of the outstanding liabilities was also paid to ex-workers of three defunct agencies: 11,239 NITEL/MTEL pensioners received a total of N11,685,740,544.38; 1,046, NICON Insurance Corporation pensioners were paid

N1,140,333,806.20 while 3,657 Delta Steel Company Limited pensioners were paid N1,821,842,463.93.

In the same vein and following the implementation of 9.7 per cent increment to ex-PHCN workers, PTAD paid a total N6,889,617,482.86 in December 2021 to all eligible 9,389 ex-PHCN retirees.

In addition, PTAD has completed the payment of all arrears of pension due to pensioners as a result of the Consequential Pension Adjustment approved by the President in April 2021 but with effect from April 2019.

It is also discovered that in December 2021, PTAD paid all 24-months arrears due to pensioners of three pension departments except Civil Service Pensioners whose outstanding balance of three months was paid in May 2022.

The agency once revealed that the commitment of President Muhammadu Buhari, between 2015 and 2022, was the reason it successfully reinstated 40,918 verified eligible pensioners to the monthly pension payroll, paid N40,332,909,500.42 as pension arrears to 161,122 verified eligible pensioners across the four pension departments and paid N7,134,360,136.45 as final pension entitlements to next of kin of deceased pensioners across the four pension departments.

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