PTAD Reaffirms Commitment to Pensioners’ Welfare, Highlights Tech-Driven Reforms

By LOVETH AZODO,  Lagos

The Pension Transitional Arrangement Directorate (PTAD) has restated its unwavering commitment to safeguarding the rights and welfare of federal pensioners under the old Defined Benefit Scheme (DBS).

Speaking during the 2024/2025 Annual General Meeting of the Nigerian Association of Insurance and Pension Editors (NAIPE), held recently in Lagos, PTAD’s Executive Secretary/CEO, Mrs. Tolulope Odunaiya, emphasized the agency’s mandate and its achievements over the years. She was represented by Mr. Olugbenga Ajayi, Head of Corporate Communications, and Mr. Casmir Audu, Head of the Lagos Regional Office.

Mr. Ajayi explained that PTAD was established to manage the pensions of federal retirees who did not transition to the Contributory Pension Scheme (CPS), noting that the Directorate has consistently fulfilled its mandate since its inception in 2013.

“Since PTAD’s establishment, we have never failed to pay pensions monthly,” he said. “That consistency has restored dignity to our pensioners, taking them off the streets and reinforcing public trust in the system. Pension funds are now protected from diversion, and payments are made directly to pensioners through the Central Bank.”

Ajayi highlighted several reforms introduced to enhance service delivery, particularly around pensioner verification. Among them is the “I Am Alive” Confirmation” a digital initiative that allows pensioners to verify their status from the comfort of their homes using an internet-enabled device.

“This innovation was driven by our concern for elderly pensioners, especially those living far from verification centers.

With ‘I Am Alive’, pensioners can confirm their status without the stress of traveling,” he said. “Once verified, their pension continues seamlessly for the next six months.”

For pensioners who are incapacitated or critically ill, PTAD has also launched Mobile Verification, allowing staff to visit pensioners’ homes for on-site confirmation.

Ajayi clarified that PTAD is a treasury-funded government agency and does not operate commercial bank accounts.

“All pension payments are handled by the Central Bank of Nigeria. PTAD simply prepares the payment schedules, which go through rigorous scrutiny including federal and internal audits before disbursement,” he explained. “This process ensures transparency and prevents the misappropriation of pension funds.”

With a presence in 13 states, PTAD says it remains committed to upholding pensioners’ dignity, leveraging technology and accountability to fulfill its mission.