PTAD Pays N834.4m to 1690 Southsouth Pensioners

• PTAD Pays N834.4m to 1690 Southsouth Pensioners

The Pension Transitional Arrangement Directorate (PTAD) has paid N834.45 million pension arrears to 1,690 pensioners from the SouthSouth, its Executive Secretary, Mrs. Sharon Ikeazor, has said.

She told reporters in Lagos that the pensioners were from the civil service.

She said payment was effected on August 18 to verified pensioners and assured pensioners of the directorate’s commitment to its core mandate.

She explained that pensioners under the Directorate were also under the old scheme – the Defined Benefit Scheme (DBS).

Mrs Ikeazor said the Pension Commission (PenCom) would take over from the Directorate the payment of retired federal heads of service and permanent secretaries who fall under the Contributory Pension Scheme (CPS) next January.

She said there were 217 retired federal heads of service and permanent secretaries, 137 of which fall under the DBS while 80 are of the CPS.

She said: “Recall that PTAD administers all pension matters under the DBS and PenCom handle retirees under the CPS.

“Under two Memoranda of Understanding (MoU) signed in 2016 and 2017 between both pension agencies, an agreement was reached for PTAD to pay the monthly pensions of retired Federal Heads of Service and as such, budgetary provisions were made in the 2017 Budget for payment of all 80 retired federal heads of service and permanent secretaries under the CPS.’’

She continued: “Thus far, PTAD has been able to ensure that these senior citizens have received their pension entitlements till date and will continue to do so until December 31, 2017. PenCom has prepared the necessary guidelines for the payment of the retired federal heads of service and permanent secretaries under the CPS. This was a critical area that PTAD, had earlier stressed a need for, to ensure smooth transition devoid of hitches which could negatively impact on pension payments.’’

Mrs Ikeazor said the Acting Director-General of PenCom, Aisha Dahir-Umar assured the Council of Retired Federal Permanent Secretaries (CORFEPS) representatives of a smooth transition to ensure that payments were effected next year.

She said recently PTAD verified retired federal heads of service and permanent secretaries. The event, she added, was attended by the CORFEPS General Secretary, Mr. Japh Nwosu; Publicity Secretary, Dr. Goke Adegoroye and Treasurer Mr. Akin Arikawe.