PTAD: The Welfare of Pensioners in Nigeria is Paramount

The Pension Transitional Arrangement Directorate (PTAD) has reiterated its commitment to protection of pensioners’ rights and their wellbeing.

To this end, the Directorate said it has introduced various initiatives aimed at actualising its mandate which is to manage pension benefits for Federal Government retirees under the old Defined Benefit Scheme (DBS), who did not transit to the Contributory Pension Scheme (CPS).

Speaking at the 2024/2025 Annual General Meeting (AGM) of the Nigerian Association of Insurance and Pension Editors (NAIPE) sponsored by PTAD in Lagos, the Executive Secretary/CEO, Mrs. Tolulope Odunaiya, highlighted the mandates of the Directorate and their achievements so far.

Odunaiya, who was represented at the occasion by the Head, Corporate Communication, Mr. Olugbenga Ajayi and Head, Lagos Regional Office, Mr. Casmir Audu, said the Directorate is fully committed to protecting the pensioners’ rights to pension as well as their wellbeing.

Ajayi said the Directorate was specifically established to handle pensions of those who did not move to the Contributory Pension Scheme, noting that PTAD’s mandate is to ensure that eligible pensioners receive their due pension payments promptly and accurately.

“Since the establishment of PTAD in 2013, and up till this present moment, PTAD has never failed to pay pensions every month; that is why we have been able to take pensioners out of the streets; that is one of the credibility the present government is enjoying because nobody is diverting money meant for payment of pensions anymore,” he said.

He stated that the Directorate has continued to introduce various initiatives to enhance its efficiency and effectiveness, some of which are: Field Verification, I Am Alive Confirmation, Mobile Verification, among others.

“As we progressed, we discovered that we shouldn’t be calling our fathers and mothers, especially, those from far distance to come and do verification here in Lagos and a technology was introduced. We call that technology ‘I Am Alive’ Confirmation. Why do we call it ‘I Am Alive’? Because pension under DBS is for life.  Once you are still alive, you are entitled to your pension. I Am Alive enable pensioners to confirm their status even inside their home at every location. This is done through Internet-enabled phone and anybody can help you do it. Once you confirm your aliveness status, in the next six month, your pension will continue to run.

“We have introduced Mobile Verification for people who are sick, or those who are alive but are incapacitated to attend normal verification, we schedule mobile confirmation for those who have done Am Alive verification but later falls sick,” he added.

Ajayi disclosed that PTAD is a federal government treasury-funded agency with no commercial bank account, adding that their responsibility is to prepare schedules for pension payment.

“PTAD don’t have any account in any commercial bank so we don’t keep any money because we are a treasury-funded agency. Pensions are paid by the Central Bank of Nigeria (CBN) and are paid directly into pensioners’ account. Our duty is to prepare the schedules of payment and it will pass through various tables including Federal Auditors, Internal Auditors, Accountant General Office, so it is not something that somebody will just wake up and say PTAD has money somewhere,” he explained.

He said PTAD is ensuring that nobody tampers with pensioners’ money. PTAD offices are in 13 States of the country.

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