Category: Pension

ABDULLAHI: I am Abdullahi from Jos Plateau State. My father was a staff member of the Ministry of Defence, Civilian Unit for 16 years before he died in 1995.

  I have attended verification. The last one was in Jos in 2017. I have submitted the required documents for the payment of gratuity and pension as a Next-of-Kin (NOK), but nothing has come out of them.

  In 2020, I was called from PTAD to submit some documents, including bank account details. I have done that.

  From your publication of my case, PTAD was asking for the verification number. I scanned and sent it since. I hope Omobola will assist me.

PTAD: NOK should provide deceased name and bank statement.

ANONYMOUS:  Good day, I will like to know if my father is eligible for pension under Defined Benefit Scheme (DBS). He was appointed on July 3, 1989 and removed on April 27, 1999.

IRIOGBE: Dear Omobola, my name is Iriogbe. Your efforts to ensure retirees are not subjected to untold hardship on retirement are highly appreciated.

By virtue of Decree 42 of 1992, NIPOST is a Federal Government’s parastatal, which I highlighted in my text messages to your office and that of the Executive Secretary- PTAD.

I equally sent petitions and relevant documents to both offices so that we could be paid the accrued arrears.

We are yet to hear from PTAD. This complaint is not new to your office as you once published same in The Nation, where I was asked by PTAD to write to its office, which I have done.

Similarly, I will like to inform the Executive Secretary that I have gone through a newspaper, not The Nation where the Office of the Accountant-General of the Federation (OAGF) asked officers from ministries, departments, agencies and parastatals, including NIPOST, who were disengaged from service in 2006 to 2007, to appear for verification at various centres between November 7 and December 2, 2022. 

Some of NIPOST staff members  disengaged in December 31, 2006 were still in service up to February 27, 2007 hence PMG/CEO’S letter. This issue has been resolved, but arrears are not paid yet. Are we to go for the exercise?

OYIBO: Good morning, Madam. I am Mr. Peter Oyibo. I retired from the National Youth Service Corps (NYSC). I received your response in The Nation of Wednesday, July 30, 2022, which says that my pension arrears are being computed.

Please, I am still waiting for the payment of my eight years’arrears and  to be put in the monthly payroll. Thank you.

OPADEJI: Good day, thank you for the humanitarian job you are doing. 

My name is Opadeji. I retired from NITEL on January 21, 2001 on grade level 14 as senior manager. I participated in the NITEL verification in 2001 and PTAD’s verification in 2005. 

When I was going for verification, my documents got missing and I swore to an affidavit on the loss.

On the basis of the loss, PTAD placed me on grade level 9 and I sent my complaint to PTAD several times, but no action was taken on it.

I, therefore, took the risk of travelling to Abuja PTAD office when the original copy of letter of the promotion was delivered to me by a good Samaritan.

My salary was subsequently readjusted to grade level 14,  but less than my salary before the verification and also far less than the pension being paid to my colleagues on the same GL 14.

Therefore, I sent many complaint,  but returned undelivered, perhaps my emails had been blocked. Since then, I have accepted my fate.

Now that I have the opportunity to forward my complaint through you to PTAD, I shall be grateful if my complaint can be treated with utmost concern. Thank you.

DUROJAYE:  Hello, my name is Durojaye. Thank you for the publications of my complaint on the short-payment of my pension federal share between August 24, 2015  and August 31, 2022.

Please reactivate my federal share of pension.

ANONYMOUS: I want to remain anonymous. My complaint is: the non-payment of the arrears of my monthly pension from April 2007 to September 2010. I retired on  March 30, 2007.

My arrears are pending for these years. I retired from the Code of Conduct Bureau Cross River State. Kindly help me.

PTAD: The complaints of IRIOGBE, OYIBO, OPADEJI, DUROJAYE and others are being attended to.

What does PTAD stand for?

PTAD is an acronym for Pension Transitional Arrangement Directorate. It is a Treasury Funded Extra-Ministerial Department under the Federal Ministry of Finance.

PTAD is responsible for the management of pensions under the old pension Scheme (Defined Benefit Scheme) for pensioners who did not transit to the new Contributory Pension Scheme (CPS), which is in effect in Nigeria.

What is the difference between the Defined Benefit Scheme (DBS) and Contributory Pension Scheme (CPS)?

The Defined Benefit Scheme (DBS) is the old pension scheme that was in effect in Nigeria until June 2007 when it was replaced with the Contributory Pension Scheme (CPS) as stipulated in the Pension Reform Act (PRA) 2014.

Under the DBS, the pension obligation is borne by the government whereas under the CPS, the accumulated pension at retirement is based on a pension plan wherein the employer and employee contributed in varying percentages to build a retirement fund for the employee.

In addition, with the CPS, the pension fund exists from the onset and payments can be made as at when due unlike the DBS which is wholly dependent on government treasury for funding.

Who are the pensioners under PTAD management?

They are Federal Public Sector employees eligible to retirement benefits, and who retired on or before June 30, 2007, and have worked in any of the pension groups listed are under PTAD management in accordance with section 43 (3) of the PRA, 2014.

The groups are the Civil Service Pension Department (CSPD); Police Pension Department (PPD); Custom, Immigration and Prisons Pension Department (CIPPD); and Treasury-Funded Parastatals Pension Department (PaPD)

What of state pensioners?

There some state pensioners who are entitled to Federal Share of pensions. To be a state pensioner with federal share, a retiree must have been in the employment of one of the regions of Nigeria before March 3, 1976 and retired before March 3, 2011.

Public sector employees that are Judicial Officers of the Supreme Court and Court of Appeal; Military; and Intelligence and Secret Services of the Federation, irrespective of when they retired are however NOT under PTAD’s jurisdiction.

What is retirement age?

The Federal Government approved the 35 years of pensionable service or 60 years for retirement whichever that comes earlier.

 What is the length of service for pension and gratuity?

The length of service for gratuity is five years, while pension is 10 years. This took effect from June 1, 1992. Before then, the qualifying length of service for gratuity and pension was 10 and 15 years. An officer who retires voluntarily after qualifying years of service cannot draw pension until he attains 45.

What are the circumstances under which pension and gratuity may be granted?

Section 3 (1) and (2) of the Pension Decree No. 102 of 1979 stipulates the circumstances under which pension and gratuity may be granted. They are on voluntary retirement or withdrawal after qualifying years of service and statutory retirement. This is where the officer attains the statutory age of 60 or has worked for 35 years on a pensionable appointment.

Pension and gratuity are also paid on compulsory retirement; on the advice of a properly constituted Medical Board certifying that the officer is no longer mentally or physically capable of carrying out the functions of his office; on permanent disability while in service; or on abolition of office under Section 7 of Pension Decree No. 102 of 1979.

What is the guaranteed period for pension?

The guaranteed period for pension under the Defined Benefit Scheme (DBS) is five years. A pensioner who retires and he is qualified for pension is to earn pension for life but where the pensioner dies less than five years after his retirement, the balance of five year guaranteed pension will be paid to his Next-of-Kin (NOK).

Why is verification necessary?

It is necessary for PTAD to carry out Verification Exercise to ascertain the proof of life and create a credible database of all pensioners under the DBS.

PTAD did not inherit a credible pensioners’database. Consequently, there is the need to verify  pensioners under the DBS to enable PTAD respond to and resolve pensioners’ complaints promptly, and accurately.

The verification of pensioners is therefore aimed at the establishment of an accurate, credible, and digitised database of pensioners under the DBS for the purpose of achieving prompt complaint resolutions; eliminating duplicate payments and ghost pensioners; and regularising anomalies such as over payments and under payments.

Others are obtaining relevant service records to ensure accurate computation of pension payments; and updating the records of the Next-of-Kin (NOK) for payment of death benefits.

What are the required documents for the verification of a pensioner?

The requirements for pensioner’s verification are Letter/Gazette of First Appointment, Letter/Gazette of Confirmation of Appointment, Letter of Last Promotion, Letter of Retirement,Computation Sheet (for State pensioners with Federal Share), Severance payslip (for downsized pensioners), Statement of Account signed and stamped by the Bank, BVN print out with picture, Birth Certificate or Age Declaration, and Means of identification.

What are the required documents for the verification of the Next-of- Kin of a deceased pensioner?

The requirements for the verification of Next-of-Kin are Letter/Gazette of First Appointment of the deceased, Letter/Gazette of Confirmation of Appointment of the deceased, Letter Last Promotion of the deceased, Letter of Retirement of the deceased, death certificate (from government hospital/National Population Commission); and Bank Statement of the diseased from date of retirement to date.

Others are Letters of Administration issued by a Court of Competent Jurisdiction, Computation Sheet of the deceased (for state pensioners with Federal share), Severance payslip of the deceased (for downsized pensioners), Joint account statement of account of the Next-of-Kin, BVN printout of the Next-of-Kin, Recognisable means of identification, affidavit of Next- of-Kin, and marriage certificate, if it is the wife.

 I’m the Next-of-Kin (NOK) of a deceased pensioner and I have not received any death benefit. When will I be paid?

You are required to submit a complaint to PTAD with the documents listed above.

Please note that the files of the civil servant who died while in service were sent to the Civil Service Pension Office which PTAD inherited.

The deceased’s departmental file is likely to be in our archive.

Sovereign Trust Insurance Plc has reassured its policyholders of its obligations in claims payment and customer service.

Its Managing Director/Chief Executive Officer , Olaotan Soyinka, stated this at the yearly open forum and thanksgiving breakfast retreat at the company’s Head Office in Lagos.

He said 2023 would be mutually rewarding for its policyholders and corporate organisations.

He urged staff members and other senior management  staff to rededicate their efforts at ensuring that customers were satisfied in the year and beyond.

According to him, they owe customers the obligation to serve them more, so that they could be satisfied as they  are in business for them.

He stressed that the company will  ensure that the staff are exposed to  human capacity development in and outside Nigeria to expand the professional horizon of the workforce and, ultimately, engender quality and better service delivery to the customers.

The company’s Executive Director, Marketing and Business Development Division, Ugochi Odemelam, pointed out that beyond the marketing the products and services of the company , the underwriting firm is also committed to paying genuine claims after due processes had been put in place by both the Insured and the Insurer.

“We must let our various policyholders, individuals or corporate know that claims settlement is what insurance business is all about. We are committed to that in every ramification,” Odemelam said.

The Pension Reform Act (PRA) 2014 is entrenching the principles of transparency and accountability as reflected in the reporting requirements of the PFAs and PFCs to the contributor and the National Pension Commission (PenCom), the Director-General of the commission, Mrs. Aisha Dahir-Umar, has said.

Mrs. Dahir-Umar in a statement said the commission is committed to securing pension funds and ensuring that retirees are paid their pension benefits.

She reiterated that the safeguards around the funds have been effective due to the strong regulatory and supervisory oversight by PenCom.

She stated that the Act prescribes a strict licensing regime to operate as a PFA or PFC.

She said: “This includes possessing the professional capacity to manage pension funds and an undertaking not to engage in any other business except that of management of pension funds.

“In addition, such applicants must satisfy the condition that they have never been liable for the mismanagement of any fund before the application.”

She further stated that there is a segregation of pension funds from the assets of pension operators

“There is complete separation between the pension funds and the assets of pension operators. This means that an operator is not allowed to combine its company funds with pension funds. As a result, a pension operator’s insolvency will not negatively impact the pension funds.

“Where an operator is incapacitated by capital inadequacy, the pension funds will simply be transferred to another solvent operator under the direction of PenCom. This segregation of pension funds has further assured the transparency of the CPS,” she added.

She said there is also strict regulation on the investment of pension funds.

“The investment of pension funds by PFAs is strictly regulated in accordance with the Investment Regulations issued by PenCom. The regulation prescribes allowable investment outlets and sets limits on the percentage of funds that can be invested.

“This ensures that risks are properly managed to ensure the safety of the funds. The PFA’s exclusive responsibility for investment decisions is only limited by compliance with the provisions of the regulation,” she maintained.

The National Pension Commission (PenCom) has approved the payment of N26.9 billion to 40,646 Retirement Savings Account (RSA) holders who were disengaged last year, according to a report.

The Pension Reform Act 2014 (PRA 2014) allows pension contributors to access 25 per cent of the balance of their RSA in case of  a temporary job loss.

Temporary job loss, as established by the PRA 2014, is when an employee who loses a job cannot secure another after four months.

Pension Fund Administrators (PFAs) paid the cash to those who were under 50.

Section 7 (2) of the PRA 2014 states: “Where an employee voluntarily retires, disengages or is disengaged from employment as provided for under Section 16 (2) and (5) of the PRA 2014, the employee may, with the approval of the Commission, withdraw an amount of money not exceeding 25 per cent of the total amount credited to his RSA, provided that such withdrawals shall only be made after four months of such retirement or cessation of employment and the employee does not secure another employment.”

The provision is one of the novel changes made by the Contributory Pension Scheme (CPS) unlike the old Defined Benefits Scheme (DB) that left many employees who lost their jobs without benefits.

Section 7(2) of the PRA 2014 guarantees financial security to employees under the CPS as they have their RSA balances to fall back on in case of job loss.

It is pertinent to note that RSAs are individualised. Therefore, account holders can change employers without the fear of losing their retirement benefits.

So far, according to the report, PenCom has approved N188.51 billion for 453,686 requests from individuals seeking to access 25 per cent of their RSA balances.

It read: “The payment approvals were granted to PFAs after the commission authenticated that the RSA holders who lost jobs were under the age of 50 years and were unable to secure another employment four months after the date of their disengagements.

“A breakdown of the payment approvals in 2022 showed that during the first quarter, the Commission approved PFAs’ requests to pay N5.66 billion to 9,966 RSA holders that were disengaged from employment.

“In the second quarter of the same year, PFAs paid N6.65 billion to 9,250 RSA holders for job loss.

“In the third quarter, N8.28 billion was disbursed to 11,913 RSA holders, while during the fourth quarter, the Commission approved PFAs to pay N6.31 billion to 9,966 RSA holders.

“Furthermore, the PRA 2014 provides that where an employee has accessed the 25 per cent for temporary loss of job, such employee shall subsequently access the balances in the retirement savings account only at the time of retirement.

“Notwithstanding the provision of Section 7(2) of the PRA 2014, it is pertinent for RSA holders to understand that the CPS is designed to cater for life at retirement.

“Therefore, the RSA is unlike the regular savings account with a commercial bank, where a customer deposits and withdraws funds at any time.

“Consequently, withdrawals from an employee’s RSA are based on conditions allowed under the PRA 2014, including the 25 per cent access for temporary job loss.”

The commission added that an employee who had accessed 25 per cent of his RSA balance due to job loss was expected to resume pension contribution once he secured another employment. 

ADISA: Good day, Madam. I am Adisa. I retired from a primary school in August 2016 as a headmaster on level 14, 11.

 My RSA is First Guarantee Pension Limited. I have been paid but my complaint is my pension was calculated with 13, 11 instead of 14, 11.

 The lump sum given to me is less than what was paid to my colleagues despite getting appointment at the same period. I need your assistance in this regard. Justice to one should be a justice to all. I will like PenCom to look into my case. Hope to hear from you soon.

PENCOM: Request received, and processed. For further complaints, you are advised to approach the Lagos State Pension Board.

ALHASSAN: My name is Alhassan. I served at the College of Education Minna and retired on July 15, 2021.

My PFA is Stanbic IBTC Pension. I am yet to be paid my retirement benefits.

Kindly assist me to find out the reason for the delay. Thank you.

PENCOM: PenCom does not have information on the retiree’s verification and enrolment on the database. Please, visit your PFA to rectify the issue.

OMOBULEJO: Good Day. I am Omobulejo. I retired on August 15, 2020 at the Vintage Press Ltd in Lagos. I regularised my documents with my PFA, Stanbic IBTC confirmed in November 2021 and they confirmed it as okay. Since then, they send me messages to be patient. For how long will I be patient. I have no job at hand. Thank you.

PENCOM: Please, visit your PFA to re-submit your application.

ABUBAKAR: Hello. My name is Abubakar. I am a next-of-kin. The president’s approval of outstanding pension stated something about 2014 retirees. But my father died in 2013.

Will his death benefit also be paid and what is consolation? How long does it take on the average? Thank you.

PENCOM: Please note that for your late father’s death benefits to be paid, you must submit some documents to his Pension Fund Administrator (PFA) for processing.

If you have done this, please forward to the commission the following: his RSA PIN, full name, name of PFA as well as other vital information to enable the commission investigate further. Thank you.

MICAH: Good day. My name is Micah. I worked with the Federal Radio Corporation of Nigeria (FRCN) as a Principal Marketing Officer where I retired in April 2019. I was promoted to a Controller Marketing, in January same year. Up till today, my level 13 arrears and promotion have not been implemented by my PFA, Premium Pension.

Kindly help look into my problem. Thank you.

PENCOM: Please provide your PIN.

JERRY: Good day. I am Jerry from Jos. I wish to seek your help on my late’s dad pension. He worked with the Federal Ministry of Defence.

PENCOM: Please, provide your PIN and PFA.

DOGARA: Good day. My name is Dogara. I retired from the Senate in 2007. I have been enjoying my monthly benefits from my PFA, IEI Anchor Pension, since then.

Unfortunately, sometime in 2018, I was told that there were some issues among my PFA, PenCom and the National Assembly.

Please, l am living with acute diabetes which you know needs urgent attention.

Kindly assist to effect the payment of the outstanding benefits to enable me pay for my treatment.

PENCOM: Please provide your PIN.

ADEOSUN: I am Adeosun. I retired in February 2018 and my documents were submitted to LASPEC towards the end of 2021 and re-submitted last July.

My PFA is Leadway Pension. My repeated calls to LASPEC are not yielding any results.

Could you please help me find out the cause of the delay?

PENCOM: Please provide your PIN.

ZUBAIRU: My name is Zubairu. My employer is the Ministry of Police Affairs, Police Children School, Owerri, MSS Police Headquarters, Owerri, Imo State. 

I am still in service with Police Children School.  My PFA is First Guarantee Pension Limited.

PENCOM: Please provide your PIN

OJEBOLA:  I retired on November 13, 2013. My documents were submitted to LASPEC on September 23, 2021. My PFA is Stanbic IBTC Pension. I am tired of repeated calls and this hotline never goes through. My pension benefits are long overdue since November 13, 2013.

I will be highly elated, if you could help me.

PENCOM:  Provide details: Full name, PFA, PIN

ADEKUNLE: Good day, I was given your phone number to seek your assistance on my late dad’s benefits been processed by Leadway Pensure.

He worked at Federal Polytechnic, Offa and died in service. I have submitted the necessary documents since 2018, but up till date, I have not got his entitlement.

This is why I need your help.

PENCOM: Payment was made in August 2021.

ANNONYMOUS: Good Morning. I work with the NPF, having been enlisted in 2016. Ever since, I haven’t received my pension.

I have made several complaints, but to no avail.

I transferred to NPF Pension Limited from Trustfund Pensions Limited and my balance in the later had not been transferred to the former.

My current employer has also not remitted my pension contributions to my PFA.

Kindly assist me.

PENCOM: Already being processed for payment.

KAJAFA: My name is Kwajafa. I retired on November 4, 2020 and completed my verification late last year.

Till now, I have not been able to access my gratuity/pension.

Kindly assist me with the necessary information to facilitate it. Thank you – Kwajafa, Border Communities Development Agency.

PENCOM: Work in progress. Please exercise patience

LAURENCE: I sincerely express my joy to The Nation and National Pension Commission. I call on the commission to rescue me from dual PIN that I have suffered for long.

Special thanks for Mr Laurence Ogungbemi of Stanbic IBTC Pension Office, Abakaliki, Ebonyi State.

I travelled to Makurdi, Benue State to process my pension payment. But I was frustrated because they attend to one person per day. The Makurdi branch of Stanbic IBTC Pension had better close down since they only attend to one person daily.

PENCOM: Go and carry out the Data Recapture Exercise with your preferred PFA to resolve the issue of double PIN.

ABUBAKAR: Hello, my name is Abubakar, I am a next of kin. The president approval of outstanding pension said something about 2014 retirees. But my father became late in 2013. Will his death benefit also be paid and what is consolation? How long does it take on average? Thank you.

PENCOM: Please note that for your late father’s death benefits to be paid, you must submit some documents to his Pension Fund Administrator (PFA) for processing. If you have done this, please forward to the commission the following details: his RSA pin, full name, name of PFA as well as other vital information to enable the commission investigate further. Thank you.

ANNONYMOUS: I am Retired Inspector Isah under NPF Pensions. I retired on January 15, 2020 under Niger State Police Command on age ground of 60 years.

But I was paid only 25 per cent lump sum of N1.665 million in February 2021, out of my total amount of N5.1million. I was also put-on monthly pension of N31,758 from March 2021 to date.

My complaint is that I deserve to be paid at least 50 per cent of my total amount of N5.1million. I am really aggrieved.

PENCOM: You are entitled to 25 per cent lumpsum

MOHAMMED: Dear Madam, we are the administrator of our late father Mohammed. He worked with Immigration Service from 1987 and was kicked out during the Presidential Taskforce in 2006.

Since then, we have not collected a kobo from the National Pension Commission or the Nigeria Immigration Service. We don’t know where to go or what to do. Help us out. –  Bawa.

PENCOM: Please provide the PFA and PIN number to enable the Commission investigate your complaint.

AJALA: My name is Ajala. Greetings to PenCom and The Nation staff. I retired from the Nigeria Custom Service in June 2009. My complaint is on the increment approved by President Muhammadu Buhari for pensioners last year.

My Pension Fund Administrator (PFA) is Sigma Pension. I visited my it on September 19, but was told that there is no remittance from PenCom yet.

In the October 19 edition of the newspaper, I was asked to provide my PIN by PenCom. I visited PenCom office on October 24 and I met a female staff whom I believe is the boss in complaint office. I showed her a copy of the newspaper and she said okay. She then told me that they have not started paying and but she made a photo copy of my pin.

PENCOM: Work in progress. Please exercise some patience.

DENNIS: Dear Madam, my name is Dennis; RSA anonymous. My PFA is First Guarantee Pension Limited. I retired from the Nigeria Police Force on June 1, 2008 and my monthly pension is N26,451. This is 14 years and six months and my monthly pension has not been enhanced. Please, can you tell me why? Thank you.

AKPUDOGWU: I am Akpudogwu. My PFA is Veritas Glanvill Pension. I have been running around for my 25 per cent benefits since my appointment got terminated in April, last year. I have concluded everything and submitted all my documents.

AJAYI: Hello, my name is Ajayi, born on July 14, 1985. I worked with Prudential Guards and was posted as a Guard to Adeola Odeku Ecobank, Lagos, between January 2014 and April 2015.

I was posted to the Civic Centre, Victoria Island, Lagos, between April 2017 to November 2018. But none of my pension is remitted into my Leadway Pensure.

Please kindly persuade the company to remit my pension for the aforementioned years. Thank you, Madam.

LADIPO: Dear Omobola, thank you for promoting transparency and accountability.

As you have requested, my PFA is Stanbic IBTC and PIN is anonymous.

My issue is that my RSA balance was sent to me last October. Does it mean that after exhausting the balance and I am still alive, there will be no more life pension for me? Thank you for your relentless efforts, Ladipo.

THE NATION: The newspaper will intervene. Do look out for the newspaper next week for responses from PenCom.

The Board of Directors of Royal Exchange General Insurance Company Limited has appointed Mrs. Ebelechukwu Benedicta Nwachukwu as the Managing Director/CEO of the company.

This followd the confirmation of her appointment by the industry regulator, the National Insurance Commission (NAICOM).

The Chairman, Prince Ike Chioke, made this known at a press conference in Lagos.

He said Mrs. Nwachukwu, with her extensive experience and knowledge of the industry, would seek to drive the growth and profitability of the company and make it a market leader in general insurance in Nigeria, adding that she assumed office December 1, 2022.

The chairman said Mrs Nwachukwu brings close to three decades of versatile and trusted experience to Royal Exchange General Insurance, with a track record of excellence and performance, having previously led two insurance companies in Nigeria.

While expressing confidence in her ability to take the company to even greater heights, Chioke thanked the outgoing MD, Benjamin Agili, for his meritorious service to the company.

Mrs. Nwachukwu is a graduate of University of Benin, Edo State and obtained her Masters of Business Administration from the ESUT Business School.

She is an alumni of London Business School (Executive Education); London and The Columbia Business School, New York; and has attended Executive programmes at the Manchester and Lagos Business Schools.

She started her insurance career at International Standard Insurance in 1994 after the mandatory NYSC and spent an additional year with the firm before joining Standard Alliance Insurance Plc in 1996, as an Officer, Public Sector.

She rose to the position of Assistant General Manager (AGM) before leaving in 2004 to join UBA Insurance Company as Deputy General Manager/Divisional Head, Retail and Channel Management with the task of running the Bancassurance Model with UBA Plc.

She also had a stint at UBA Plc as Senior Manager/Head, Marketing – Cards Division.

Ebele left UBA Plc to join Zenith General Insurance as a Deputy General Manager (DGM) in 2007, was promoted to the position of General Manager (GM) in 2008 and later appointed the MD/CEO in the same year, leading the company to unprecedented growth in terms of revenue and profitability in the nine (9) years she spent as the Managing Director.

Mrs. Nwachukwu then assumed the leadership position of MD/CEO at NSIA Insurance in January 2018, where she led the business reengineering and transformation projects in the company. While at NSIA, her efforts led to a change in the company’s structure, culture and operations, leading to increased business patronage and was awarded the ‘Best Place to work’ in 2019. She left NSIA in May 2022 to pursue other personal interests.

A member of Chartered Insurance Institute of Nigeria (CIIN); Ebele is also a member of the Institute of Directors, Nigeria, (IoD); Chartered Member of the Nigerian institute of Management (NIM) and a member of the Personal Finance Society, United Kingdom.

In the Nigerian Insurance Industry, Ebele has served in the following capacities: Member, Governing Council, Nigeria Insurers Association (NIA); Chairman, Publicity Sub-Committee of the Insurers Committee (NAICOM); Chairman, AIO Organising Committee – AIO 2021, (hosted in Nigeria) and Chairman, NIA House Project.

The Pension Transitional Arrangement Directorate (PTAD) has praised President Muhammadu Buhari for prioritising pensioners’ welfare and making pension payment of the Defined Benefits Scheme (DBS) an unwritten first-line charge from the inception of his administration till date.

Its Executive Secretary, Dr Chioma Ejikeme, spoke during an engagement with stakeholders in Abuja.

She stated that Buhari’s policy on prompt payment of DBS pensioners monthly pension and the resolve of the Minister of Finance, Budget and National Planning, Zainab Ahmed, the Office of the Accountant-General of the Federation and other stakeholders to implementing the President’s policy on pension matters, are the bedrock of the many successes the Directorate has achieved.

Dr Ejikeme noted that the agency is  working hard and changing the narrative in the management and administration of DBS pension, which has been made possible because of the commitment of the President, Minister of Finance and others.

PTAD has made landmark achievements, which include completion of the payment of arrears arising as a result of the consequential adjustment to pensions as a result of the increase in minimum wage of April 2019 to the four departments in the Directorate; completed liquidation of the 126 former workers of Nigeria Reinsurance Corporation.

She added that the Directorate also completed payment of the 219 months of inherited liabilities to former workers of New Nigeria Newspaper Limited; and completed payment of the 100 months of inherited liabilities to ex-workers of NICON Insurance; completed payment of the 96 months of inherited liabilities to ex-workers of Delta Steel Company (DSC); implemented the 9.7 per cent increment to former PHCN workers with attendant arrears paid; and made part-payment of the arrears owed NITEL/MTEL pensioners.

She said: “Two weeks ago, we paid another 15-month arrears to 5,907 pensioners out of the outstanding 63 months of the inherited unfunded pension liabilities. The remaining half of the NITEL/MTEL will get their 15-months’arrears’paymentsoon.  

 “Through the unwavering support of President Muhammadu Buhari, PTAD has completely liquidated the inherited unfunded liabilities of all the defunct/privatised agencies handed over to us, with NITEL/MTEL, which we are fully committed to liquidating.”

She also reiterate that following the launch of the “I Am Alive” confirmation solution and  the successful completion of the pilot phase where the agency tested the application on 50,000 randomly selected pensioners from the four operational departments and the six geo-political zones, PTAD is ready for the full rollout of the solution.

The PTAD boss further stressed the agency’s resolve to make the process as seamless as possible for pensioners.

“PTAD has trained the Pension Desk Officers of the various institutions and organisations where our pensioners retired from, as well as pension union executives from the six geopolitical zones on the solution. The training is to enable them to assist pensioners who are unable to carry out the “I Am Alive” confirmation on their own. The commitment of PTAD towards the welfare of our pensioners remains sacrosanct, and we shall continue our meetings and engagement with the various unions to ensure quality service delivery.

“PTAD is grateful to President Muhammadu Buhari who since the inception of his administration has made pensions an un-written first line charge, to our able supervisory Minister, Dr Zainab Ahmed, the Office of the Accountant General of the Federation and all our other major stakeholders who have made the modest successes achieved by PTAD possible,” she added.