N3.37B Has Been Paid To Pensioners, PTAD Reveals
Sharon Ikeazor Source: The Nation

The Pension Transitional Arrangement Directorate PTAD on Sunday disclosed that a total of N3.37 billion has been paid to pensioners that worked in 187 agencies, while the sum of N1.02 billion outstanding severance benefits was also paid to 1,596 verified eligible ex-workers and next of kin of deceased ex-workers of Savannah Sugar Company Limited.

The development, according to PTAD, was in line with President Muhammadu Buhari’s promise to resolve and ensure accurate computation and payment of the balance of the one-off terminal benefits for the workers who were disengaged in 2002 when the company was privatised.

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Giving the breakdown, PTAD noted that 1,192 ex-workers got N723,546,067.24, while 404 next of kin got N300,878,823.82.

“This (N3.4bn) payment covers six months of the outstanding arrears of the 33% pension increment for pensioners across five sectors as follows, education, health, Other Public Sector Research Institute, power and universities.

“PTAD has now offset 30 months arrears for pensioners in agencies across five sectors under Parastatals Pension Department.”

PTAD noted that between June 2016 and December 2018, PTAD paid 24 months arrears to pensioners in these agencies.

The statement further disclosed that at the time of its takeover of payment of Parastatals pension in 2015, the Directorate had inherited an outstanding 33% pension increment liabilities from the various agencies.

The directorate assured those involved that all arrears would be paid in due course.