13,754 NRC Pensioners: PTAD Pays N375.9 Million, Clearing 33 Percent Pension Increment Arrears

Ikeazor

By LOVETH AZODO, Lagos

The Pension Transitional Arrangement Directorate (PTAD) has paid the sum of N375,936,732.49 to 13,754 pensioners of Nigeria Railway Corporation (NRC).

The payment was the final installment of the 30 months arrears of the 33 percent pension increment confirmed by the management of NRC.

A statement from the PTAD office noted that the payment was In fulfilment of President Muhammadu Buhari’s promise to clear outstanding pension arrears for pensioners under the Defined Benefit Scheme.

It would be recalled that PTAD inherited outstanding 33 Percent pension increment liabilities from various agencies at the time of its takeover of payment of Parastatals pension in 2015.

The Executive Secretary, Sharon Ikeazor explained that the Directorate had inherited 30 months arrears of 33 percent as at June 2015.

However, she said that between 2016 and 2018, 24 months arrears was paid to the pensioners of the Corporation leaving an outstanding balance of six months as at December 2018.

She noted that with the latest payment, PTAD has settled fully the 33 percent arrears of NRC.

She assured other agencies that all arrears will be paid after the completion of Parastatals Pension Department (PaPD) verification exercise later in the year.