Over N79.2 Billion Spent On Pension Payments In 2018, As PTAD Reassures Prompt Payments

PTAD Executive Secretary, Sharon Ikeazor standing in front roll with the Pensioners after the Stakeholders Forum in Abuja

By CLEMENT NWOJI, Abuja

The Pension Transitional Arrangement Directorate (PTAD) Thursday, revealed that a colossal amount of N79,207,927,530.77 was paid out as monthly pensions in 2018 while N23,629,530,882.6 had already been paid out in the first quarter of 2019.

The Executive Secretary of PTAD, Sharon Ikeazor, who released the statistics, assured the commitment of the Directorate and the Federal Government to improve the living standards of pensioners through prompted payments.

While speaking at the North Central zone stakeholders forum in Abuja which theme was “Putting Pensioners First”, she explained that the objective of the forum was to update the pensions on what had been done and future plans of the Directorate as well as open up dialogue, share ideas and discuss ways of improving the lives of the pensioners by PTAD management.

Giving the breakdown of statistical
amounts paid out in 2018 by the four departments, Ikeazor listed as follows: Customs, Immigration and Prisons Pension Department (CIPPD) (N6,810,835,211.79), Treasury funded Parastatals Pension Department (PaPD) (N45,054,301,272.63), Civil Service Pension Department (CSPD) (N21,217,916,095.74) and Police Pension Department (PPD) (N6,124,874,950.61).

Also, she said 2,024 Next of Kins (NoKs) had been paid over N2,839,904,703.16.

According to the Executive Secretary, “Pension payments have been regular and up to date. We have concluded the CSPD verification and commenced the verification of the PaPD pensioners.

“We have made significant progress on the payment of the long standing 33 percent arrears, which are hopeful will soon be a thing of the past. We are making payments to Next Of Kins of deceased pensioners in the CSPD and the PaPD.”

She explained that 30,770 CSPD pensioners who had not been on the payroll have had their benefits computed and put back on the payroll with their arrears paid, adding that as at March 2019, an additional 1655 had also been computed and put back on the payroll.

In respect of PaPD, she said 14,678 pensioners from various agencies under the department were verified, benefits computed and paid.

While speaking, the President of the Nigeria Union Pensioners (NUP), Dr. Abel Afolayan, on behalf of the pensioners expressed gratitude to PTAD and the Executive Secretary for convening the meeting and for all the Directorate had done so far to improve the living standards of the retirees.

He noted that even though PTAD is not yet perfect, but that what obtains now is much better that the past.

The NUP President urged PTAD not to relent until it achieves perfect and solicited the cooperation of the retirees with the PTAD management to enable achieve the desired targets.