PTAD assures of govt’s commitment to pensioners

Pension Transitional Arrangement Directorate (PTAD) has restated its commitment towards the payment of pensioners’ entitlements, as the Federal Government has mandated it to verify their details ahead of the fund disbursement.

The Director-General, PTAD, Nellie Mayshak, at the verification exercise for pensioners in health and education sectors, in Lagos, at the weekend, said it is government’s desire to put a smile on pensioners’ faces now, after years of mismanagement and a system bedeviled with fraud.

“The pension funds were stolen and mismanaged and while some are in court now, others are on the run to escape prosecution. But we can now give assurance both to public and pensioners that their funds are safe,” she said.
She stated that pension funds are no longer taken outside government’s purview, as they are domiciled with the Central Bank of Nigeria and payments are made on regular basis straight to the pensioner’s account.

“There are no intermediaries, which can tamper with pension fund anymore. That has been what we have been doing for the past two years, which is why there is no noise and nothing is missing.

“When pension are not safe, people don’t want to retire. We then have people change their age to remain in the system because pension is a bad experience.  We thank God that all of that has changed and we are doing very well,” she said.
She assured that current exercise would address the issue of Next of Kin.

“It is a bit unfortunate when pensioners die, sometimes they are lucky to have enjoyed the statutory five years. But a pensioner can die in a year or even a month in their pensionable life and the next of kin needs the money to survive at the period and for that money not to come at the critical time has thrown many families into difficulties. We have been working with our partners to address the situation of late benefits to Next of Kins,” she said.