PTAD Paid OVer N17.73BN Inherited Liabilities To Defunt Agencies

The Pension Transitional Arrangement Directorate (PTAD) is not owing monthly pension to pensioners on its payroll. The Directorate has in line with its mandate to transform the management of the Defined Benefit Scheme (DBS) ensured that monthly pension payment is prompt, consistent and unbroken since 2014 when it took over pension payment. This standard was maintained even during the COVID-19 pandemic lockdown in 2020.
In the month of June 2022, a total of N9,254,780,094.96 was paid as monthly pensions 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. Incidences of failed pension payments in June 2022 to pensioners across the pension departments have also been re-presented on the GIFMIS payment platform and confirmed received by the affected pensioners.

In December 2021, PTAD through the commitment of President Muhammadu Buhari, the Honorable Minister of Finance, Budget and National Planning, the Office of the Accountant General of the Federation and the Central Bank of Nigeria 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% 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. By December 2021, PTAD had 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.
With the commitment of President Muhammadu Buhari, between 2015 and 2022, PTAD has 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.