PTAD to Begin Verification of Eligible Parastatals Pensioners under the Defined Benefit Scheme

The Pension Transitional Arrangement Directorate (PTAD) has concluded arrangements for the Parastatals verification exercise of 104,133 Pensioners and Next of Kin (NoK) of 270 Federal funded Parastatals, Agencies and Institutions under the Defined Benefit Scheme (DBS). The exercise will take place across the 6 geopolitical zones and Lagos.

Pensioners of the following defunct/privatized agencies will also be verified during the exercise:

  • Nigeria Aviation Handling Company ( NAHCO)
  • Assurance Bank
  • Nigerian National Shipping Line (NNSL)
  • Aluminium Smelter Company Of Nigeria (ALSCON)

The exercise is to validate inherited payrolls from the various defunct pension boards and offices which handled payment to pensioners under the Defined Benefit Scheme and to create a comprehensive digital database of pensioners. The exercise will also facilitate easy access and retrieval of records for computation and prompt complaints resolution. It will also ensure that monthly pension is accurately calculated and reflects application of relevant pension statutes, policy and salary structures.

This verification exercise is NOT for Customs, Immigration and Prisons Pensioners, Civil Service Pensioners or Police pensioners. The exercise is also NOT for Parastatals Pensioners that have already been verified which includes the following: Delta Steel Company (DSC), NITEL/Mtel, NICON Insurance, Nigeria Reinsurance, New Nigeria Newspapers (NNN), Savannah Sugar Company Ltd, Federal Housing Authority (FHA), Nigerian Defense Academy (Civilians).

The Directorate would like to reiterate that the verification of pensioners and NoKs will be done in phases across the country. Pensioners should please note that they do not have to travel to the state they retired from to be verified. They will be verified in the state they currently reside.

The first phase of the verification will commence in Lagos from Tuesday April 23rd, 2019 to Thursday 9th of May, 2019 in centers located in Ikeja, Ketu, Akoka, Ebute Metta and Lagos Island.

Other phases of the exercise will be held in states in the different geopolitical zones on the following dates:  South South (May 20th – June 1st, 2019), South West (June 10th – June 26th, 2019), North Central (July 8th – July 24th, 2019), North East (August 5th – August 9th, 2019), North West (August 19th – September 2nd, 2019), South East (September 16th – October 2nd, 2019).