PTAD Pays N3.4 Billion As 33 Percent Pension Increment Arrears To Pensioners

Sharon Ikeazor,Executive Sec PTAD

The Pension Transitional Arrangement Directorate (PTAD) has paid the sum of N3,366,354,277.64 to pensioners of 187 agencies under parastatals pension department.

A statement by PTAD weekend explained that the payment was in fulfillment of President Muhammadu Buhari’s promise to clear outstanding pension arrears for pensioners under the Defined Benefit Scheme.

This payment covers six months of the outstanding arrears of the 33 percent pension increment for pensioners across five sectors as follows: Education, Health, Other Public Sector Research Institute (OPSRI), Power and Universities.

PTAD has now offset 30 months arrears for pensioners in agencies across five sectors under Parastatals Pension Department (PaPD).

It would be recalled that between June 2016 and December 2018, PTAD paid 24 months arrears to pensioners in these agencies.

At the time of its takeover of payment of Parastatals pension in 2015, the Directorate had inherited outstanding 33% pension increment liabilities from the various agencies.

The Directorate had assured that all arrears would be paid in due course.