The Pension Transitional Arrangement Directorate (PTAD) on Wednesday affirmed its commitment to recover Outstanding Pension Assets with Insurance Brokers and Underwriters put at in excess of N11 Billion.
Sharon Ikeazor, Executive Secretary, PTAD said this while addressing the press in Abuja, stating that the directorate will ensure complete recovery of all these outstanding pension assets.
She said “PTAD will continue the recovery of all pension assets with Insurance Brokers and Underwriters, we have so far recovered cash and non-cash assets of over N16Billion from the BOTS and Insurance Underwriters. The cash component of N6.9B is domiciled with the CBN, in a designated Recovery Account, created solely for the remittance of such funds. Properties recovered have been forwarded to the Federal Ministry of Works & Housing for proper assessment and valuation”.
She further explained that PTAD So far, has made payment of the outstanding 33% arrears for pensioners under the Paramilitary (full payment – 42 months), Civil Service (12 months outstanding), Parastatal (18- 36 months outstanding stressing this varies for different agencies and Police (12 months outstanding.
She noted that PTAD added over 700 verified Parastatal Pensioners from the Federal Housing Authority and NDA (Civilians) to the payroll to begin to receive monthly pension payments noting that PTAD started verification of defunct and privatized agencies in Q4 2017 with the verification of pensioners from Nicon, New Nigeria Newspapers, NDA (Civilians), the Federal Housing Authority.
According to her, “In the First Quarter of 2018, PTAD made pension payment of N2, 215,830,506.54 to 111,525 Civil Service Pensioners and 219 Retired Perm Secs and HOS in January, N2, 216,184,723.81 in February and N2, 216,703,124.70 in March respectively while 98,259 Parastatals pensioners, received N4, 097,429,279.59 pension payment in January, 98,224 Parastatal Pensioners N4, 134,638,576.19 in February and N4, 020,511,594.28 paid to 98,209 in March”.
“Also a total number of 12,019 Customs, Immigration and prisons pensioners were paid N623, 145,648.93 in January, 11,972 pensioners were paid N620, 651,619.58 in February and N620, 328,452.73 was paid to 11,966 pensioners in march. While 16,048 Police Pensioners received N557, 862,130.70 in January, 16,040 pensioners received N557, 787,752.72 in February and 16,055 pensioners received N558, 036,667.13 in March respectively”.
She stressed that following the successful conclusion of the nation-wide civil service pensioners’ verification exercise in December 2017, pensioners who did not show up were given up to the end of March 2018 to come forward to be verified and a total of 22,021 who did not show up have now been suspended from the payroll, amounting to a monthly savings of N495, 022,747.57 to government adding that this would translate to approximately N6 billion per annum.
“Discussions and plans with the NHIS for health insurance and other health care benefit to pensioners under the DBS. Other welfare benefit schemes to be explored include benefit discounts and rebates on essential services and products”.
Joseph Okunade, secretary General, Nigeria Union of Pensioners expressed satisfaction as explained that the pensioners so far have felt the impact of the activities of the directorate. “We are feeling the impact of this administration, indeed we have hardworking individuals in office and we are glad”.
CYNTHIA EGBOBOH, ABUJA
