PTAD pays July pension
The Pension Transitional Arrangement Directorate (PTAD) has paid out N7,389,954,164.03 as July pensions to about 237,306 pensioners in federal government agencies under the Defined Benefit Scheme.
PTAD also announced that it will transfer payment of pensions of retired Heads of Service and Permanent secretaries who fall under the Contributory Pension Scheme to the National Pension Commission from January 2018.
A statement from the management of PTAD made available to The Nation on Saturday said 98,362 Pensioners who retired from the Parastatals Pension Department (PPD), 16,111 Pensioners under Police Pension Department (PPD), 110,753 Pensioners under Civil Service Pension Department (CSPD) and 12,080 Pensioners under Customs, Immigration and Prisons Pension Department (CIPPD) where paid.
The statement said the Directorate is committed to keeping its promise of making prompt payment to Pensioners as at when due, stressing that PTAD was a Treasury Funded Agency and rely on financial releases from government to pay the workers.
In a separate statement, PTAD said the payment of retired Federal Heads of Service and Permanent Secretaries who fall under the Contributory Pension Scheme will now be done by PENCOM with effect from January, 2018.
It said while there are 217 retired Federal Heads of Service and Permanent Secretaries, 137 fall under the Defined Benefit Scheme (DBS) while 80 are of the Contributory Pension Scheme (CPS), adding by law, while PTAD administers all pension matters under the Defined Benefit Scheme and PENCOM handle retirees under the Contributory Pension Scheme.
It said further that “Under two Memoranda of Understanding (MoU) signed in 2016 and 2017 between both Pension agencies, an agreement was reached for PTAD to pay the monthly pensions of retired Federal Heads of Service and as such, budgetary provisions were made in the 2017 Budget for payment of all 80 retired Federal Heads of Service and Permanent Secretaries under the Contributory Pension Scheme.
“Thus far, PTAD has been able to ensure that these senior citizens have received their pension entitlements till date and will continue to do so until 31st December, 2017.
“PENCOM has prepared the necessary guidelines for the payment of the retired Federal Heads of Service and Permanent Secretaries under the CPS.
“This was a critical area the Executive Secretary of PTAD, Sharon Ikeazor had earlier stressed a need for, to ensure smooth transition devoid of hitches which could negatively impact on pension payments.
“The Acting Director General of PENCOM, Aisha Dahir – Umar gave assurances to the Council of Retired Federal Permanent Secretaries (CORFEPS) representatives of a seamless transition as budgetary preparations were in progress to ensure payments are effected from January, 2018. Of recent, PTAD had carried out a verification of retired Federal Heads of Service and Permanent Secretaries.”