Category: Pension

FUNMILOLA: My name is Funmilola, wife to the late Sgt Ramonu. He served at No 2 Squadron Police Mobile Force Keffi Street Obalende Lagos, Force No 152028 until his death  on February 26, 2004.

His next-of-kin is Ismaila Omogboye, and children Sakirat Omogboye, Ismaila Omogboye, Mohamed Omogboye and I. Since 2004, only his gratuity of N239,000 was paid to the family and N314,000 for pension. The children and I were told that the pension will be paid monthly to children till 18 years but nothing has been paid. I was told that we will be given N500,000 for insurance and children will be entitled to scholarship because their father died in active service.

PTAD: NOKs should let us know if they have been verified. If Yes, should provide Verification slip. If No, they should visit the HQ (Maitama,Abuja office) for their verification with all the required documents.

 Muritala:  I thank The Nation for being there for pensioners. I have been complaining since October, last year.

According to the Executive Secretary of PTAD, about 2,100 retirees were put on pension payroll. In her last statement, she said, we didn’t want the retirees to sweat before getting their entitlements. But why did they remove my name from payroll since October? At present, I have no money to feed. I withdrew my service from National Youth Service Corps (NYSC) in 1996 after spending 12 years in service. Kindly help solve my problem.

PTAD: Inform the pensioner that he was dropped from the payroll in October, last year because he was not verified. Advise pensioner to scan his service documents and phone number to verification@ptad.gov.ng.

Akinfenwa: Dear Omobola, this is my second reminder in respect of pensioner’s verification exercise with reference OYO/PF/Anonymous. My complaint is on for the non-harmonsation of my pension by PTAD. May I remind you that up till now, there is no result despite the submission of my documents to PTAD. No information. I am still alive by God’s grace.

PTAD: At the moment, the department is working on complaints of pensioners that are not on the payroll. Complaints on short payment will be resolved as soon as they are through. However, the pensioner should scan his verification slip and complaint to our e-mail: complaints@ptad.gov.ng

 Florence: Hello Omobola of Pension Solution, my name is Florence. My complaint is on PTAD’s deduction of my pension since last December. They reduced my pension from N8000.to N3000 in what they call overpayment in November. 2020. I told them to pay my gratuity that has been pending since May 2005 and then subtract the overpayment. But they carry on with the deduction. This is not fair. Please help me get PTAD to pay my gratuity to enable me benefit from my retirement from the Federal Service since 2005. They wanted my retirement papers for confirmation which I presented to them in October 2018. Kindly help me.

PTAD: Please advise the pensioner that her gratuity will be paid as soon as funds are made available.

Medu: My name is Medu. PTAD is owing me pension arrears of 3 months since 2015. I was verified in October 2019, and have been promising to pay me after 6 months. It is over one year but they have refused to pay me.

PTAD: Advise pensioner to state the period of arrears in question and also bank statement starting six months before his complaint till date.

 Folarin: I retired from the Federal Ministry of Works & Housing in April 2006. My monthly pension has been short paid since my retirement. During the verification exercise of September 25, 2017 in Lagos, the case of my short payment was noted but nothing has been done about it since then in spite of series of letters to PTAD and the Executive Secretary. Kindly assist.

PTAD: Please tell pensioner to scan his verification slip to complaints@ptad.gov.ng. The pensioner number he provided is not correct

Baiyegun: My name is Baiyegun and my complaint is on incorrect monthly pension. PTAD paid me N7000 the monthly payment last month December 2020 instead of N15000 that they have been paying me monthly. Please I want to know the reason for this short payment and solicit you to resolve this issue for me.

PTAD: Inform the pensioner that, his December, 2020 pension was short paid because he was over paid in November, 2020. However, his subsequent monthly pensions have been correctly paid till date.

 Kareem:  My name is Kareem, a retiree under the old scheme. My monthly pension was stopped since December 2020 and efforts to restore it proved abortive. Kindly help me out. I have since submitted my bank statement of account and pension verification form to PTAD to peruse in order to pay me.

PTAD: Tell pensioner to scan his bank statement from September, 2020 till date to complaints@ptad.gov.ng

Maize has grown in recent years, with several countries registering impressive growths in production and productivity. However, the increasing demands come various problems. At a conference in Abuja, which was streamed online, stakeholders discussed the industry challenges and proffered solutions, DANIEL ESSIET reports.

 

In Nigeria, maize has grown in importance, due to high demand. The demand for the crop has been on the rise because the grain, apart from being used for feeding poultry, serves as a staple food in many households.

Majorly, it is used by flour millers, brewers, bakers of bread and confectionery and animal feed manufacturers.

Notwithstanding its high production, analysts noted that maize farming in Nigeria, which yields an average of 1.8 metric tonnes per hectare (MT/Ha), is the lowest among the top maize producers in the world.

According to Knoema, an international research report, the United States (U.S.) is the top country by maize production in the world. Last year, the world’s total maize production was estimated at 1.07 million tonnes.

Also, the report said maize production in the U.S. was 360,252,000 tonnes or 33.66 per cent of the world’s maize production. Yet, Nigeria had 11,500 tonnes. In 2012, it was 8,695 tonnes.

Experts, however, said there was the need to boost production. It was a highlight of a maize conference held in Abuja.

It  attracted participants from within and outside  the country. Entitled: “Much more maize”, the event was organised by Bayer Nigeria, a German international group, with a focus on developing and deploying new technologies to enhance food production. It featured a panel discussion. The panelists included the National President, Maize Association of Nigeria (MAAN), Alhaji Abubakar Bello; and Director, National Agricultural Seed Council (NASC), Dr. Olusegun Ojo.

Apart from the national research and extension system partners, who participated in the conference, there were experts from Bayer Nigeria, including Agronomic Operations Manager, Mr. Joseph Kibaki, and Market Development Regional Manager, Dr. David Wangila.

The objectives of the conference were to assess specific priorities to enhance production,  share the latest knowledge on cutting-edge technologies and generate awareness among stakeholders for better uses of maize as food, feed, and as an industrial crop.

While scientific achievements in the recent past have led to higher yearly growth in maize, the Country Cluster Commercial Lead for Bayer, Lauren Parez, noted that production  in Nigeria is constrained by many factors. However, there remained a large scope to increase production, as well as opportunities to boost innovations in crop improvement, management and diversification.

As the demand for maize is expected to increase, he further emphasised the need for improved technologies and management practices.

He said Bayer wishes to promote the culture of providing farmers with high-performance products to eradicate the environmental constraints in agricultural yields.

The MAAN President, Alhaji Abubakar Bello, discussed in details  the situation of maize in Nigeria.

To grow the industry, Bello urged for increased focus on  enhancing  farmers’access to  quality seeds, along with climate-smart agronomic management practices.

The MAAN President, who spoke on the topic; ‘Revolutionising the maize production in Nigeria,’ explained that the association was  responsible for driving improvement and development of the maize value chain with emphasis on increasing production capacity of its members with the motto: “Food for all.”

He listed Niger, Kaduna, Ogun, Kogi, Taraba, Ondo, Katsina, Oyo, Plateau, and Kano as states with the highest cultivated area accounting for 60 per cent of maize production in the country.

His words: “Nigeria is producing more maize yearly. The figure of production from 2014 to 2019 was the highest ever, which took Nigeria to the second spot among maize producers in Africa with an average of 12.9 million metric tonnes, yearly.

“Rising from 10.1 million tonnes in 2014 to 10.6 million in 2015 and 11.6 million in 2016. In 2017, the figure held to 10.4 million metric tonnes, but lifts in 2018 to 11 million tons and the figure was maintained in 2019.”

Despite this, the low adoption rates of improved varieties and challenges of accessing of quality seeds, suggest that there is significant space for growth.

One of the key challenges facing the industry, the Director, National Agricultural Seed Council (NASC), Dr. Olusegun Ojo, noted, was access to quality seed, which is the most critical factor for improving productivity.

Ojo reiterated that the council was focused on regulation and coordination to enhance reliable access to quality planting material and seeds of superior varieties at the right time and at an affordable price for farmers.

According to him, the Council and partners introduced the Plant Variety Protection (PVP) Bill to ensure the protection of plant breeders, granting them intellectual property rights over their planting materials and supporting the development of new plant varieties.

“The PVP law when in place will protect plant breeders as it grants them an intellectual property right over their planting materials,” he said.

He expressed gratitude to Bayer Nigeria for its contributions to Nigeria’s seed industry, especially as it concerns maize.

Technical Lead for Maize, MAAN, Dr Sam Ajala, noted the damaging effects of weeds on maize.

Emphasising the need for an efficient and affordable weed management system to enhance yields, Ajala canvassed the use of safe and environment-friendly herbicide options in maize production.

He added that using Bayer’s agrochemicals such as Lagon, an herbicide, has produced positive impact on maize crops.

Agronomic Operations Manager, Mr. Joseph Kibaki, and Market Development Regional Manager, Dr. David Wangila, who spoke on “Good agronomic practices,” said Bayer provides field agronomic advisory applications and decision support tools to help farmers make profitable investments and achieve higher yields.

 

 

Stanbic IBTC Pension Managers has paid N1 trillion to 65,000 retirees since the inception of the Contributory Pension Scheme (CPS). Its Chief Executive Officer, Olumide Oyetan in this interview with OmobolaTolu-Kusimo speaks on how the company has been able grow the pension assets under its management and other issues in the industry

 

HOW has investments of the fund been in recent times, bearing in mind the  macroeconomic environment?

Pension Fund Administrator (PFAs) are rational investors who allocate assets to securities that are considered attractive in relation to the inherent risk of an investment. Due to the macroeconomic environment, we have in recent times witnessed a situation where risk-adjusted returns have been higher on sovereign debt notes, like bonds and treasury bills than from more volatile assets like equities. For context, the annual performance of the equity market has been positive only four times out of the last 10 years while the 10-year Compound Annual Growth Rate (10-Year CAGR) is 9.65 per cent following the over 50 per cent return recorded in 2020.Thus, one can understand the natural preference for safer instruments with higher returns potential.

Furthermore, pension funds, being contributory, have grown at an average annual rate of 18 per cent over the last seven years, whereas there has only been a handful of new listings on the Nigerian Stock Exchange (NSE) over the same period.This disproportionate growth has significantly constrained the ability of pension funds to increase allocation to the equities markets whereas the issuance of sovereign and corporate debt instruments continues to grow steadily.

Transfer Window was recently launched by the National Pension Commission (PenCom). How would you access it?

The transfer window is a positive development for the pension industry as it gives Retirement Savings Account (RSA) holders the freedom to change their initial selection of a PFA to their preferred service provider based on attributes that are important to them. For us, as a company, the transfer window has given us the opportunity to welcome new clients and continually improve our technology and services to meet most of our clients’ needs. Leveraging our various educative programmes, the transfer window also gives us the opportunity to enlighten a wider audience, thereby boosting confidence in the pension industry as well as the larger financial services industry. We have carried out significant upgrades across our digital self-service channels and online platform to provide transactional ease and a personalised experience for both new and existing clients. We have also conducted in-house reviews and re-trained staff to equip them with required skills to harness opportunities presented by the transfer window to grow our market share.

How have you been able to grow and safeguard pension fund assets under your management?

The safety of clients’ pension fund is our priority at Stanbic IBTC Pension Managers.We expertly grow pension assets to deliver sustainable long-term returns using in-depth market research. We also ensure our clients can easily access their retirement benefits when they fall due. Since the inception of the contributory pension scheme, we have paid approximately N1 trillion to more than 65,000 retirees.

With many Pension Fund Administrators (PFAs) in Nigeria, an obvious question is: why should workers choose Stanbic IBTC Pension Managers?

There are several reasons contributors should consider Stanbic IBTC Pension Managers as their preferred PFA. One key factor that stands us out is our rich heritage. As a member of the Standard Bank Group, which is the largest bank in Africa, you can rely on our over 155-years of delivering expert solutions across Africa with a consistent track record of excellence.

We also have a dedicated team that ensures that our clients always receive excellent service. Transparency in the management of your pension asset is critical and we ensure that our clients have full access to up-to-date information pertaining to their Retirement Savings Account (RSA) via multiple channels. Our clients can reach us anytime and anywhere via our multilingual call centre, our PensionSolution mailbox, the Stanbic IBTC Mobile App, our 30388 SMS shortcode, our live chat and MyPension Portal on our website. We also have 41 dedicated service locations nationwide for Pension clients who prefer physical interaction.

In addition to these, we offer free financial advisory through our Financial Fitness Academy and New School Money programmes which provide our clients and their children with tips on how to manage their savings and expenses, especially at such unprecedented times.

Some workers and retirees complain that they are not able to reach pension managers as they would want to. How are you handling this on your part?

Stanbic IBTC Pension Managers is uniquely positioned to deliver exceptional service delivery and long-term consistent results to everyone who trusts us with their pension and we are accessible via telephone at 01 271 6000, via email pensionsolution@stanbicibtc.com and via our website stanbicibtcpension.com.

CHIA: Dear Omobola of the Pension Solutions. I am a solicitor based in Makurdi, Benue State. I write on behalf of Mrs. Josephine of Gboko, Benue State. My client is the widow and next-of-kin of Nathaniel, formerly of the Nigeria Customs Service (NCS).

The deceased was born on October 4, 1960, enlisted into the service of the NCS on October 1991 and died intestate on October 31, 2006. At the time of his death, the deceased was an Assistant Superintendent of Customs.

After the deceased’s death, my client notified his employers. She also procured and submitted the relevant documents to the NCS headquarters in Abuja to facilitate the processing and payment of his death benefits claims.

After the initial processing, the NCS forwarded my client’s application to the Pension Transitional Arrangement Directorate (PTAD) for further processing and payment sometime in the year 2011. PTAD advised my client to participate in a screening and verification. She complied with the instruction on August 15, 2015, following which she was assured of prompt payment of her death benefits claim. However, my client did not hear anything further from the PTAD.

Consequently, she retained my professional service to procure or facilitate the processing and payment of the claim. I paid numerous visits to the NCS and PTAD offices at Abuja where I met with several responsible officers of both agencies. I also sought clarification from the Pension Commission of Nigeria, Abuja.

Despite visits, meetings, consultations, and enquiries in person and via mobile phone calls and letters, the authorities of PTAD did not take any positive action on my client’s claim until June 1, 2019 when I wrote demanding payment  for my client.

PTAD wrote a reply dated June 10, 2019 where it informed my client that it was not responsible for the payment of the deceased’s death benefits and further advised my client to contact the NCS, PenCom and the deceased’s PFA for processing and payment of the claim.

My client is confused and frustrated with the procedure after more than 13 years when she commenced efforts to obtain the death benefits claim in respect of her deceased husband’s service to the NCS.

Meanwhile, my client had lost the only home that her late husband had constructed due to a fire accident a few years ago. Mrs. Josephine is the administrator of the estate of the deceased.

Kindly help us to get clarity.  – C. V. Chia.

PenCom: You are kindly advised to verify if the late officer has a Retirement Savings Account (RSA) account with any Pension Fund Administrator (PFA). After which, the PFA will advise on the documents which would be required for the death benefits of the late officer to be processed. The PFA, in turn, will forward these documents to the National Pension Commission (PenCom) for processing.

Ene: Please, what are the rules and regulations of payment for Federal Government’s retirees? Secondly, I retired in April, this year. When will my accrued right be paid?

 PenCom: The rules and regulation for payment of Federal Government retirement benefits under the CPS starts by participating in the Commission’s Pre-retirement verification and enrolment.The prospective retiree/retiree needs to contact the Pension Desk Officer (PDO) of his/her MDA to get the documents for enrolment.

He/she is also required to come along with the PDO to the enrolment centre for his/her attestation. After the enrolment, the retirement benefits are determined and paid into the RSA of the retiree based on the information provided by the retiree during enrolment.

But, please, NOTE that retirement benefits are paid subject to the release of funds by the Federal Government for payment of accrued rights.

 Anonymous: My complaint is on the non-payment of outstanding pension and gratuity. I am a retired officer with the Nigeria Immigration Service (NCS). I was in service when the National Pension Commission (PenCom) was born in 2004.

Two years later6, I registered with First Alliance Pension Limited, which has metamorphosed into ARM Pension Managers with a PIN 100####. But certificate issuance was unusually delayed and no explanation was offered. This delay created anxiety prompting me to register with another pension manager, Stanbic IBTC Pension with PIN PEN100####.

I retired in May 2016. By December 29 of the same year, I applied for harmonisation of my pension managers to the PenCom into one pension manager to facilitate the payment of my pension.

PenCom replied me in a letter dated February 1, 2017, where it recognised the first PIN registered with ARM as a valid PIN and that Stanbic IBTC PIN is invalid. That ARM Pension Managers PFA Limited would retain the first valid PIN on its data base while Stanbic IBTC Pension Managers would de-activate the second invalid PIN from its data base.

PenCom advised that I should maintain Retirement Saving Account (RSA) PIN with ARM Pension for pension transactions. PenCom also promised to reconcile the contributions in the valid PIN to ensure that total contributions therein are brought up to date accordingly, while that in the valid PIN (if any) would be refunded to the Federal Government through its accounts with the Central Bank of Nigeria (CBN. Kindly assist me solve this problem.Thanks.

PenCom: His retirement benefits were paid into the second PIN with Stanbic IBTC.  He is advised to write the complaint to the Commission for proper treatment.

Bisong: My name is Bisong. I applied for 25 per cent of my pension with NLPC since December, 2019 and I am yet to be paid. Please help facilitate approval.

PenCom: Mr. Bisong’s application for temporary access of his RSA was sent to the Commission on June 17, 2020. Approval notification was sent to NLPC on  June 21, 2020.

Emmanuel: Good Day, ma. My name is Emmanuel, the son of the late SUPOL James. We have an issue on the pension of our late dad who passed away on March 13, 2015. We have paid the money they asked us to and we have also submitted the necessary documents. But we have not received any message on his pension. Please help us.

PenCom: Please we need further details such as his PIN Number and Pension Fund Administrator (PFA) to enable us investigate the issue.We called the above number provided but was wrong number.

Udochi: I am Udochi and I am 47 years old. I retired from Walvis Nigeria Limited in 2014. My PFA later paid me 25 per cent. I need your help because I am having a health issue and I have issues with my children school fees. Please you can give me half of or all the money, that is with you. I will be happy so that I can take care of myself.

Pencom: Having collected 25 per cent, the balance will be paid to you as pension when you attain 50.

 

FUNMILOLA: My name is Funmilol, wife to the late Sgt. Ramonu. He died on February 26, 2004. He served at No. 2 Squadron Police Mobile Force, Keffi Street, Obalende Lagos. His Force was No 152028. His next-of-kin is Ismaila Omogboye, the  children Sakirat Omogboye, Ismaila Omogboye and Mohamed Omogboye and l.

Since 2004, the only gratuity  paid to his family was N239,000 and N314,000 for pension.

The children and I were told that the pension would be paid monthly to the children till they were 18, but nothing had been paid. I was told that we will be given N500,000 for insurance and that the children would be entitled to scholarship because their father died in active service. So far, nothing had been paid. Please assist us.

Duke: I am writing to acknowledge N14,033.57 N50,133.67 for February and March, 2021. Please I want to know the reason PTAD has continued to deduct my money.

Muritala:  I thank The Nation for being there for pensioners.

I withdrew my service from National Youth Service Corps in 1996 after 12 years in service.

I have been complaining since October 2020 on why did they removed my name from payroll since October?

According to the Executive Secretary of PTAD, about 2,100 retirees were put on pension payroll. She had said she didn’t want the retirees to sweat before getting their entitlements. Yet, this is happening to me.

I have no money to feed. Kindly solve my problem.

Akinfewa:  Dear Omobola, this is my second reminder  on the pensioner’s verification with reference OYO/PF/Annonymous. My complaint is on non- harmonsation of my pension by PTAD.

May I remind you that up till now, no results, despite that I have submitted my documents to PTAD.

I am still alive by God’s grace.

Florence: Hello Omobola, my name is Florence. My complaint is on PTAD’s deduction of my pension since December 2020. They reduced my pension from N8,000 to N3000 in what they called overpayment in the previous month. I told them to pay my gratuity that had been pending since May 2005 and then subtract the overpayment. But they carried on with the deductions. This is not fair.

Please help me get PTAD to pay my gratuity to enable me benefit from my retirement from the Federal Service. They wanted my retirement papers for confirmation. I presented to them in October 2018. Kindly help me.

Medu: My name is Medu. PTAD is owing me pension arrears of three months since 2015. I was verified in October 2019. They  promised to pay me after six months. It is over one year, they have refused to pay me.

Folarin: I retired from the Federal Ministry of Works and Housing in April 2006. I was short paid my pension. During the verification on September 25, 2017 in Lagos, the case was noted but nothing had been done about it since then in spite of the letters I sent to PTAD’s the Executive Secretary.

Kindly assist.

Baiyegun: My name is Baiyegun and my complaint is on incorrect monthly pension. PTAD paid me N7,000 last  December instead of N15,000 that they have been paying me monthly.

Please I want to know the reason for this short payment.

Kareem:  My name is Kareem, a retiree under the old scheme. My monthly pension was stopped since December 2020 and efforts to restore it proved abortive.

I have since submitted my bank statement of account and pension verification form to PTAD to peruse.

Kindly help me out.

Abraham: My name is Abraham, son and next-of-kin to  the late inspector Samuel Adem, from Benue State. My late father served the Nigerian Police and retired on June 29, 2004, after 26 years.

Until his death, his monthly pension was yet commence. This means he was not on police pension payroll till he died on October 6, 2010.

Please where how do start processing pension and other death benefits. Is it PTAD or PenCom?

Abuchi: My name is Abuchi. I worked with the Federal Ministry of Housing and Urban Development. I was disengaged from service on July 13, 2006. Our gratuity was paid on June 19, 2007. I started receiving my pension from August 2008. My complaint is that I have not been paid my pension outstanding arrears from day of retirement which is from July 31, 2006 to July 31, 2008 after several  complaint letters and bank statement since 2008 up to when we did our last verification in December 2017 and up till now, nothing has come out.

The Nation: Funmilola, Duke, Muritala, Akinfenwa, Flprence, Medu, Folarin, Baiyegun, Kareem, Abraham,and Abuchi, the newspaper will intervene by sending your complaints to PTAD. Do watch out for the newspaper publication next Wednesday for a response from the commission and subsequently  weekly for pension news.

By OmobolaTolu-Kusimo

 

NSIA Insurance has kicked   launched its radio advert campaigns, NSIA Value Campaign, nationwide.

According to the company in a statement, NSIA Value Campaign offers the opportunity to deliver a simple yet powerful message to a targeted group of consumers in an effort to increase awareness about the organisation, and also to communicate effectively the value of their product offerings and tailor-made services.

The statement read: “The campaign has two directions: “Insurance is” and “Insurance has a new look”. ‘Insurance is’ showcases insurance as a safety net, ensuring one does not have to pay out-of-pocket when an eventuality occurs.

“Insurance has a new look’ focuses on changing the perception about insurance in Nigeria. This direction speaks to the fact that NSIA Insurance is committed to providing its stakeholders with excellent customer experience, throughout their journey.

“The campaign will run for five weeks on various radio stations in: Lagos, Ibadan, Port Harcourt, Warri, Abuja, Onitsha, Asaba, Enugu, Kaduna and Kano.

The Managing Director/Chief Executive Officer (CEO) of NSIA Insurance, Ebelechukwu Nwachukwu said they have a lot to offer to our customers.

“We seek to help create, protect and preserve wealth. One way we can fulfil this is by keeping our potential and existing customers in the loop about our new products and how they can benefit from them,” he added.

 

“Radio is ideal for targeting specific demographics and market segments. By choosing this medium, we can get to our potential customers, remain top of mind to our existing customers and ultimately change the perception about insurance in Nigeria.”

By OmobolaTolu-Kusimo

 

Lagos State Government has credited the Retirement Savings Accounts (RSAs) of 358 retirees with N1.01 billion.

The Director-General, Lagos State Pension Commision (LASPEC) Babalola Obilana, made this known during the Retirement Bond Certificates Presentation to the 84th batch of the Contributory Pension Scheme (CPS) retirees in Lagos.

Obilana noted that the fund had been transferred by the government to the retirees’ Pension Fund Administrators (PFA’s), who have confirmed receipt and would begin disbursement within soon.

He said the state has been consistent with its leadership role in the implementation of the Contributory Pension Scheme (CPS) in line with the provision of the Lagos State Pension Reform Law of March 19,2007 now amended.

He posited that the event was organised to celebrate the elder statesmen who had laboured in the State’s Public Service and also to present them their retirement benefit bond certificates .

According to him, the bond certificates shows the accrued rights due to the retirees for the years spent in the service of Lagos state under the discontinued Defined Benefit Scheme.

He said: “You have worked for 35 years and you will not spend your money on illness. Please take very good care of yourself, as health is wealth and the Coronavirus is still very much around.

“Desist also from unimportant spending and beware of pension fraudsters,” Obilana advised.

The LASPEC boss hinted that the state government was also working on modalities for the implementation of the health insurance for the pensioners, which is expected to tentatively kick-start before the end of the year.

He commended Governor Babajide Sanwo-Olu for his commitment to the efficient and effective administration of the CPS in the state.

He explained that the effort of the governor has culminated to the regular issuance of the retirement benefit bond certificates to the retirees.

By OmobolaTolu-Kusimo

 

The Pension Transitional Arrangement Directorate (PTAD) has debunked reports that some pensioners  have been left out of the consequential pension adjustment approved by President Muhammadu Buhari.

Its Executive Secretary, Dr. Chioma Ejikeme, in a statement, explained: “We would like to state emphatically that Mr. President’s approval under reference covers all pensioners under the Defined Benefit Scheme (DBS), including parastatal pensioners, who constitute the membership of FEPPAN, and does not discriminate against any category of pensioners.

“For the avoidance of doubt, the Directorate has already computed the entitlements of all its pensioners and will commence the immediate implementation of the consequential increment as approved by Mr. President.

“This, therefore, renders any call of potential engagement of any Federal Government agency by FEPPAN irrelevant as all its members are covered under the DBS umbrella as stated in the circular released by the National Salaries Wages and Incomes Commission (NSWIC).”

Ejikeme appealed to the leadership of pension unions to avail themselves of the freedom of information offered by the Directorate to avoid the  misconception of government policies.