The Pension Transitional Arrangement Directorate (PTAD), the agency responsible for managing the pensions of retirees under the Defined Benefit Scheme (DBS), has reiterated its unwavering commitment to addressing critical pension-related issues, particularly the payment of the recently approved N32,000 pension increase and other outstanding arrears. This commitment was underscored during a meeting between PTAD’s Executive Secretary, Tolulope Odunaiya, and representatives of the Federal Universities Pensioners’ Association (FUPA) and the Association of Federal Radio Corporation of Nigeria Pensioners (AFRCN). The meeting served as a platform for open dialogue, allowing pensioners to voice their concerns and for PTAD to outline its strategies for resolving these issues. Key areas of concern included back-end computations, processing of Next-of-Kin payments, enrollment in the National Health Insurance Scheme (NHIS), verification of diaspora pensioners, and, most importantly, the timely disbursement of the approved pension increase and accumulated arrears.
Ms. Odunaiya assured the pensioners’ representatives that PTAD is treating these concerns with utmost seriousness and has prioritized their resolution. She explained that the agency is actively engaging with key government stakeholders, including the Federal Ministry of Finance and the National Salaries, Incomes and Wages Commission, to expedite the processes necessary for the implementation of the N32,000 pension increase and the clearance of all outstanding arrears. The engagement with these bodies focuses on securing the required funding, which is crucial for the commencement of arrears disbursement. PTAD emphasized its commitment to transparency and accountability in managing pension funds and assured pensioners that every effort is being made to ensure they receive their rightful entitlements.
The issue of back-end computation, which involves recalculating pension benefits based on the new approved rate, is being addressed meticulously to ensure accuracy and avoid further delays. PTAD is working diligently to streamline the process of Next-of-Kin payments, aiming to minimize the bureaucratic hurdles faced by beneficiaries. Efforts are also underway to facilitate the seamless enrollment of eligible pensioners into the NHIS, ensuring access to quality healthcare services. The verification of diaspora pensioners presents unique challenges, and PTAD is exploring effective mechanisms to ensure these pensioners are included in the payment process.
The N32,000 pension increase represents a significant step towards improving the welfare of DBS pensioners. This increase, once implemented, will provide much-needed financial relief to retirees who have dedicated their careers to public service. The commitment to clearing outstanding arrears further demonstrates PTAD’s dedication to ensuring pensioners receive all their entitled benefits. The agency recognizes the financial hardships faced by many pensioners and is working tirelessly to alleviate these burdens.
The pensioners’ representatives expressed their appreciation for PTAD’s proactive approach and the transparency demonstrated during the meeting. They acknowledged the complexities involved in managing pension funds and pledged their continued support and collaboration with PTAD. This collaborative spirit is essential for ensuring the smooth implementation of the pension increase and the effective resolution of other outstanding issues. The pensioners’ representatives also highlighted the importance of continuous communication and engagement, urging PTAD to maintain open channels of communication with pensioners and their associations.
The successful implementation of the N32,000 pension increase and the clearance of outstanding arrears will significantly impact the lives of thousands of pensioners under the DBS. It will provide them with greater financial security and improve their overall well-being. PTAD’s commitment to these objectives, coupled with the support and cooperation of pensioners and relevant stakeholders, is crucial for achieving these goals. The agency is confident that with continued collaboration and diligent effort, the challenges facing DBS pensioners will be effectively addressed, ensuring they receive the retirement benefits they deserve. PTAD remains dedicated to its mandate of ensuring the timely and accurate payment of pensions, enhancing the welfare of pensioners, and fostering trust and confidence in the pension system.
