The Pension Transitional Arrangement Directorate (PTAD) has disbursed more than ₦1 trillion in pension payments over its twelve years of existence, the Executive Secretary, Ms. Tolulope Odunaiya, has announced.

Ms. Odunaiya made the disclosure on Thursday while speaking at a One-Day Capacity Building Workshop for Pension Correspondents and Online Editors in Abuja.

Represented by the Director of Corporate Services, Mr. Kabiru Yusuf, she highlighted PTAD’s commitment to transforming pension administration in Nigeria, particularly under the Defined Benefit Scheme (DBS).

She emphasized the sensitivity of pension management in Nigeria and said PTAD has remained at the forefront of ensuring pensioners’ welfare. She also acknowledged the role of the media, particularly pension reporters, as key partners in fulfilling PTAD’s mandate.

“At PTAD, we aim to foster robust engagement with the media, correct misrepresentations, and inform them of our next steps in sustaining the welfare of our pensioners,” Odunaiya stated.

Since its inception, PTAD inherited about 55,000 pension complaints relating to 3,000 qualified pensioners, along with an estimated ₦304 billion in unfunded pension liabilities across its four operational departments.

Some of PTAD’s notable achievements include securing Presidential approval for emergency funding of ₦45 billion to implement pension increments of ₦32,000, 10.66%, and 12% for eligible pensioners, and obtaining approval for the liquidation of ₦39.2 billion in unfunded pension arrears owed to parastatal pensioners for the period August 2015 to July 2023.

These successes were attributed to effective operational processes and governance, in collaboration with the Federal Ministry of Finance, the Office of the Accountant General of the Federation (OAGF), and the National Pension Commission (PenCom).

However, PTAD noted challenges, including the absence of a statutory provision for pensions to be a “first-line charge”, lack of a defined framework for implementing the Constitutionally-mandated five-year pension increment cycle, and ambiguities regarding federal obligations for certain categories of pensioners, such as primary school teachers and those affected by public service reforms.

The Directorate stressed the need to clarify the responsibilities of the Federal, State, and Local Governments in administering and funding pensions for primary school teachers to ensure timely and consistent payment.