PTAD offsets 33% Pension Increment Arrears of Railway Pensioners Press "Enter" to skip to content

PTAD offsets 33% Pension Increment Arrears of Railway Pensioners

Mathew Dadiya, Abuja

The Pension Transitional Arrangement Directorate (PTAD) has paid the sum of N375, 936,732.49 million to 13,754 pensioners of Nigeria Railway Corporation (NRC).

This, the Executive Secretary, Sharon Ikeazor, said was in fulfilment of President Muhammadu Buhari’s promise to clear outstanding pension arrears for pensioners under the Defined Benefit Scheme.

Ikeazor, on Wednesday, stated that the payment was the final instalment of the 30 months arrears of the 33% pension increment that was confirmed by the management of NRC.

The Daily Times recalled that that PTAD inherited outstanding 33 per cent pension increment liabilities from various agencies at the time of its takeover of payment of Parastatals pension in 2015.

The Executive Secretary, said that the Directorate had inherited 30 months arrears of 33 per cent as at June 2015.

However, she explained that between 2016 and 2018, 24 months arrears were paid to the pensioners of the Corporation leaving an outstanding balance of 6 months as at December 2018. With the latest payment, PTAD has settled fully the 33 per cent arrears of NRC.

She assured other agencies that all arrears will be paid after the completion of Parastatals Pension Department (PaPD) verification exercise later in the year.