The Pension Transitional Arrangement Directorate (PTAD) has so far recovered N16 billion of legacy pension funds and assets in the last one year. This was affirmed by Mrs Sharon Ikeazor, the Executive Secretary who made the disclosure at the 2017 stakeholders’ forum of pensioners in Abuja.
The legacy fund includes the liabilities and assets of pension funds of erstwhile pension offices and treasury funded pensions of parastatal agencies, universities and colleges of education. She said, the legacy funds and assets recovered were mainly from NICON insurance and that efforts were on to recover additional assets and funds held by insurance underwriters.
The theme of the forum, “Putting Pensioners first, is Putting the Country first“, was adapted to brief pensioners on the various activities carried out by PTAD from her assumption in office. She said her assignment at PTAD had given her the opportunity to understand and appreciate the magnitude of problems previously encountered by pensioners.
The secretary said in spite of initial daunting challenges, PTAD had recorded some measure of success in administering the old pension scheme.
Ikeazor listed some of the achievements in the last one year as the automation of the pension payment processes and the use of government to Person Electronic Payments. The successes according to her, had led to pensioners receiving their payments directly through their bank accounts on 25th of the month.
She said that PTAD had also carried out digitisation of pensioner’s data and record through creation of clean database and introduction of a client focused service orientation that showed care and empathy. She also added that plans were made towards completing payment of outstanding 33 per cent pension arrears for all sectors. Strategising were on top gear to create possible ways of developing a social welfare package for verified pensioners once funds were available.
The President, Nigeria Union of Pensioners, (NUP), Mr Abel Afolayan, and PTAD had helped in improving the living conditions of pensioners. Afolayan thanked Ikeazor for her efforts, saying, “Since she came on board, the payment of monthly pension has been regular.’’
Afolayan called on the government to always make funds available to PTAD for the payment of pensioners and in addition, urgently address the issues of police pensioners.
