Positive Developments In Pension Industry Excite PTAD

By Sola Alabadan

The Pension Transitional Arrangement Directorate PTAD says it is proud to see that its various efforts have continued to yield positive results, after working assiduously to change the narrative of pension administration in Nigeria, especially under the Defined Benefits Scheme.

PTAD’s Executive Secretary, Dr. Chioma Ejikeme, stated this at a one day workshop organised by PTAD for pension correspondents in Lagos on Monday.

The PTAD boss, who was represented by Kabiru Yusuf, the Director, Parastatals Pension Department, stated that “Pension management in Nigeria is a very sensitive issue, and PTAD has been at the forefront since inception, ensuring that the welfare of pensioners under the defined benefit scheme remains a priority.”

Speaking on the Civil Service Pension Department under PTAD, a director of the department, Sulayman Shelleng, informed that the agency has 107,785
pensioners currently on its payroll.

He added that PTAD has fully paid the inherited 33% pension increment and also facilitated the payment of recently approved minimum pension.

Besides, Shelleng said the agency has created a reliable database for civil service pensioners, initiated a decent digital/physical archiving solution.

The establishment of a Special Project by the Executive of PTAD, according to him, saw to the computation and payment of pension arrears to over 24,000 pensioners and Next-of-Kin of deceased pensioners.

He added that PTAD has equally paid 21 Months Arrears of Consequential Adjustment in Pension as a result of the New National Minimum Wage amounting to over N19 billion.