PTAD Executive Secretary, Sharon Ikeazor

The Pension Transitional Arrangement Directorate (PTAD) is set to commence 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).

A statement from the PTAD management said the exercise would take place across the six geopolitical zones and Lagos.

It said within the period, pensioners of the following defunct/privatized agencies would also be verified:
Nigeria Aviation Handling Company ( NAHCO), Assurance Bank, Nigerian National Shipping Line (NNSL) and
Aluminium Smelter Company Of Nigeria (ALSCON)

PTAD explained that 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.

According to the Directorate, “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.”

It however, said “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 reiterate that the verification of pensioners and NoKs would be done in phases across the country, adding that the pensioners doesn’t need to travel to the state they retired from to be verified as they would be verified in the state they currently reside.

The schedule of the verification indicated that 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).