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Tag: pension

  • PTAD: Resolving pensioners’ issues

    PTAD: Resolving pensioners’ issues

    ABAWONKU: My name is Mabawonku, a federal/state pensioner. I worked  at the Nigeria Educational Research and Development Centre (NERDC) from September 14, 1982 to July 6, 1993.   

      Thereafter, I joined the Lagos State Government Civil Service on July 15, 1993 and retired on January 26, 2008 as a Director.

      The Lagos State Government paid its share of gratuity and pension in 2010 but that of the federal share has not been paid up till today, despite several demands in writing.

      I am owed gratuity and six months’ pension arrears from January to July 1993.

      I did physical verification with PTAD at Tafawa Balewa Square in Lagos on April 23, 2019. I submitted bank statements from 2008 to date as requested by PTAD and other documents.

    My original pension file has been retrieved from NERDC by PTAD Since November 2017. With all the conditions met, since 2019, still, the gratuity and pension arrears have not been paid. Kindly help me.

    PTAD: Response in progress. 

    IRIOGBE: Good day, my name is Iriogbe, a NIPOST retiree. My phone had been inundated for some time with requests from some colleagues who want to know if PTAD has stopped the online verification of Federal Government pensioners. They are worried that after some pensioners were chosen to do same, they are yet to be asked to do theirs and this has caused a lot of worries to them, fearing it may eventually lead to the removal of their names from payroll.  They are not tired of phoning me, having known that I have done my work late last year. Please, clarify.

    PTAD: Pensioner was sceptical and refused to provide more details on his career. 

    OYIBO: Good day, I am Oyibo. I retired from NYSC. I received PTAD response in The Nation dated Wednesday, July 30, 2022, which stated that my pension arrears were being computed.

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

    PTAD: Pensioner to provide a Letter of Introduction from former MDA signed by a Director.

    TAUHID: My name is Tauhid. I am a state pensioner with Federal share. I retired as a Director on Grade Level 16 step 9. I retired in May 2009 and was verified in Niger State in December 2017.

    I have made several attempts to visit PTAD office at Maitama, Abuja. I have sent many people to facilitate the payment of my federal share of gratuity. I wrote in The Nation of October 19, 2016 but all to no avail.

    I am still waiting. I have exercised patience.

    Please note that  I am suffering from two serious diseases. The newspaper should help me so that PTAD can pay me the Federal Share of Gratuity. Thank you.

    PTAD: Pensioner to provide details of MDA, verification slip and Bank statement from December 2022 to date and has agreed to submit.

    FASHAKIN: Dear Omobola, I read your column on pensions in The Nation and decided to contact you.

    My name is Fashakin, a pensioner from Nigerian Railway Corporation (NRC). After our retirement 17 years ago, the management of the corporation paid part of our entitlement and refused to pay the balance.

    Several letters had been written and efforts made to get our legitimate right but they were rebuffed by the management. Then, we engaged the service of a lawyer who wrote to ask for our money. The management replied our lawyer that he should forward the names and other information of his clients that they were owing. The names were sent to them, still the management refused paying.

    All these happened last year.The case was referred to EFCC on January 11, this year. We waited for EFCC to call us for investigation, according to our lawyer.

    But when we did not hear from them, I went to their office on May 20, 2022 with a letter of reminder. The letter was refused, to my greatest surprise. I was told that EFCC declined to investigate the case of fraud brought against the railway management.

    Madam, I have the proof of all I have said.

    I would be glad if you can step in and look into our case. Thank you.

    PTAD: Pensioner did not state nature of complaint. He did not respond to phone calls. He can contact PTAD directly.

    OWOEYE: Dear Omobola, I am Owoeye. I complained about the backlog of pension arrears to PTAD and I sent documents to you through gmail to your office on December 31, 2020. My complaints are: omission on payroll from January 2000 to February 2005; short payment from February 1, 2005 till date (N419,315.10).

    The PTAD officer, who was handling my file, ignored my bank statement and every complaint I made was underlined and asterisk in the bank statement.

    Also, the harmonisation approved by the Federal Government was not paid.

    PTAD: Mr. Owoeye should provide detailed bank statement from retirement till date.

    NKANU: My name is Nkanu. I retired on February 29, 1995 from the University of Jos. I have not received my pension salary for May.

    PTAD: Mr. Nkanu’s pension has been paid.

    RAPAEL: Please I want to know why a text message is sent to me every five months to confirm whether I am alive while other people are not bothered like me. The only one other pensioner that gets such messages is in Akwa Ibom. I am not happy over it, the text should be general not to two selected people. Thank you.

    PTAD: The messages are error. Kindly ignore.

  • Enugu gov inaugurates committee to clear outstanding LG pensions

    Enugu gov inaugurates committee to clear outstanding LG pensions

    Enugu State Governor, Peter Mbah has inaugurated a committee for verifying and paying pensions and gratuities of retired primary school teachers and other local government retirees.

    Revd Father Nnamdi Nwankwo is the chairperson of the committee while a retired permanent secretary, Donatus Achin and state chairperson of the Nigeria Union of Pensioners (NUP), Ike Ekere are members.

    Other members are Theophilus Nweke Odo, state chairperson of Nigeria Union of Teachers(NUT); Kenneth Ugwueze, state chairperson of National Union of Local Government Employees (NULGE); Adenike Okebu, senior special assistant to the governor on revenue; Larry Oguego, a rights activist; Chinedu Ngene, from the state Audit Department; and  Obiamaka Egbo,  the Special Adviser to the governor on Public Finance.

    Read Also: Enugu State Govt bans unauthorised use of vehicle with tinted glasses

    Mbah, who was represented by the Secretary to the State Government, Chidiebere Onyia at the event at the Government House, Enugu, said the decision was in continuation of his commitment to ensuring that retirees who had served the state received their entitlements.

    The governor recalled that a similar committee was recently constituted to clear the outstanding pensions and gratuities owed to civil servants since 2006.

    He added that the decision was in fulfilment of his campaign promises to the people.

    He charged the committee to reflect their integrity and experiences on the assignment given to them as they were selected based on their track records and credibility.

    He said the committee, which would serve as a guide, had done extensive work and was expected to submit its report and recommendations on Friday.

    He expressed confidence in the integrity of members of the committee.

  • Pension complaints and solutions

    Pension complaints and solutions

    Obinson: Good day,  I am Robinson. I once worked  at Cubana Lagos at 17,  Adeola Odeku Street, Victoria Island, Lagos. The period of my engagement was between December 2022 and June 2023.

      During the period, my pension deduction was not remitted to my Stanbic IBTC Pension account. I will appreciate your swift response. 

    PENCOM: Dear Mr Robinson, kindly forward your letters of appointment and resignation, payslips for some or all the concerned periods, and an updated copy of your Retirement Savings Account (RSA) to info@pencom.gov.ng to enable the Commission O process the complaint.

    TARTSEGHA: I am Tartsegha.  My PFA is Stanbic Ibtc Pensions. I retired in 2021 but my benefits have not been paid. Please help.

    PENCOM: Dear Mr. Tartsegha, Your application is being processed. Your Pension Fund Administrator will contact you once the process is complete.

    LEONARD: Dear Sir/Madam, My name is Leonard. I worked with Atlas International Engineering Services Limited for 13 years before I retired in June 2022. I realised that my former employer short paid my pension contribution for over 10 years by paying only one quarter of what is due as required by PenCom guidelines. I reported this matter to PenCom Head office in Abuja in February 2023, but uptill date, no action has been taken against Atlas international Engineering Services Limited.

    I am aware that Pencom sent a letter to Atlas demanding explanation within 21 days of receipt of Pencom letter. Atlas refused to collect the letter from the despatch rider twice and the Recovery Agent then sent the letter via Atlas email addresses, including those of the directors, yet no acknowledgment by Atlas.

    I was informed that the Legal Department of Pencom in Lagos would be handling the matter.

    Till date, no further attempt has been made and I am left with the option of taking the matter to the National Industrial Court.

    Please advise me or kindly help follow up with your Legal Department in Lagos. Awaiting your kind advice, please. 

    PENCOM: Dear Mr. Leonard, the Commission is still engaging Atlas International Engineering Services Limited. 

    OGUNYANKINNU: My name is Ogunyankinnu. I was verified on July 13, 2022. I ought to have been  paid by now. But my PFA, Access Pensions, said the delay was caused by PenCom.

    Please help me out because my enrolment was successful. 

    PENCOM: Dear Mr. Ogunyankinnu, the accured rights portion of your pension contributions is outstanding. Once the funds are received from the Federal Government, your retirement benefit will be paid.

    AMADI: Good afternoon, I had an issue of multiple pension PINS.

    I filled the harmonisation form through Stanbic IBTC Pension Managers with the relevant documents requested on June 13, 2023. I have visited several times and also contacted your offices through email on June 15, 2023 for updates on the resolution of the matter.

    As at today I am yet to get any  information on when the issue will be resolved to enable me access my pension domiciled with Stanbic IBTC.

    Kindly advise me on when the matter will be resolved. Thank you.

    PENCOM: Dear Mr. Amadi, kindly visit your preferred Pension Fund Administrator (PFA) to undergo the Data Recapture Exercise (DRE) to resolve the issue.

    Please note that the PFA where you undergo the DRE becomes your valid PIN.

    MS MADUKA: My name is Maduka. I worked for Aquila Leasing Limited between 2018 and 2021.  I am owed 17 months pension. I have written to them and they promised to pay by the end of June 2023 but didn’t keep to their words. I continued sending an email but no feedback or response.

    Please use your good offices to assist me.Thank you.

    PENCOM: Dear Ms Maduka, kindly forward your letters of appointment and resignation, payslips for some or all the concerned periods, and an updated copy of your Retirement Savings Account to info@pencom.gov.ng to enable the Commission process the complaint.

    ISHARGBA: Good day, my complaint is about the non-payment of pension from our company – Blaid Farms Limited- after deductions.

    This lingered from January 2018 to June 2023 when the company terminated our services. I was the Company Accountant and I am representing other colleagues.

    Please help us. Thank you.

    PENCOM: Dear Mr. Ishargba, kindly forward your letters of appointment and resignation, payslips for some or all the concerned periods, and an updated copy of your Retirement Savings Account (RSA) to info@pencom.gov.ng to enable the Commission process the complaint.

    SAKA: Dear Sir, my name is Saka. My PFA is Oak Pension Limited. I am appealing that my 25 per cent benefits application request documents form sent to Pencom by my PFA for approval since June 9, 2023 be approved. This is to enable OAK to process the payment.

    PENCOM: Dear Mr. Saka, your request has been approved by the Commission. Please visit your Pension Fund Administrator to conclude the process.

    ADIDI: Hello, my name is Adidi. My PFA is First Guarantee Pension Limited (now Access Pensions). Kindly help me resolve the non-payment of my retirement benefits. I retired from Federal Ministry of Works and Housing on July 21, 22 on age.

    Since then, I have not been paid any retirement benefits.

    PENCOM: Dear Mr. Adidi, the accured rights portion of your pension contributions is outstanding. Once the funds are received from the Federal Government, your retirement benefit will be paid. 

  • Lawmaker supports automation of pension system

    The lawmaker representing Ede North, Ede South, Ejigbo and Egbedore federal constituency, Hon. Bamidele Salam, has supported the automation of the pension system.

    He said it would prevent diversion and denial of pensioners’ entitlements.

    Salam, who is the vice chairman, House Committee on Pension, spoke with reporters during the official opening ceremony of his constituency office in Ede.

    Salam expressed worry over non application and introduction of technology to the pension system by some Nigerians.

    Read Also: Lawmaker to youths: Stop depending only on your certificates

    Salam, who maintained that technology would ensure transparency and speed in the payment of pension, promised to push for the introduction of full technology in identification of the pensioners and verification of the pensioners. He also said he would ensure that the funds that are meant for pensioners are not diverted nor kept away from them.

    Meanwhile, Salam has also appointed four persons living with disabilities among his 35 aides. At a ceremony in Ede, where he gave letters of appointment to his aides, he said he was determined to give people of his constituency an equal opportunity.

    He thanked the Speaker of the House, Femi Gbajabiamila, for appointing him as a member of ECOWAS Parliament and deputy chairman, House Committee on Pension.

  • ‘Pension remittances improve under stiff penalties’

    Penalities imposed on defaulting employers under the Contributory Pension Scheme (CPS) have increased the rate of remittance of pension contributions into employees’ pension accounts, the Retirement Saving Accounts (RSAs).

    The Regional Manager, Trustfund Pension Limited, Mr Obiora Ozoekwem spoke at the 2019 Employers’ Forum in Lagos.

    He said the scheme faces the challenge of some employers not remiting up to date.

    Ozoekwem said most of the employers remit in arrears and this has led to backlog of remittance, thus making it difficult for them to be up to date.

    He said as a Pension Fund Administrator (PFA), they always organise fora to sensitise employers on how they can be compliant with the scheme.

    He said: “The forum is a gathering where we sit with employers under our management and bring them up to speed on some things they need to know and new happenings in the industry. We also discuss certain challenges we are having in terms of contributions and registrations among others.

    “We also discuss the challenges that we encounter in their operations as regards the pension administration. The first challenge we encountered with the employers started from the point when we have to talk to the employees to enroll under the scheme. We let them know that the responsibility to enroll laid with the employer because when a new staff joins an organisation, the employer is supposed to enquire whether the staff has been registered with a PFA or not.

    “In the case where he has not, the employer ought to allow him make a choice of PFA. But in a situation where he has registered with a PFA, the employer should not be found forcing him to leave where he is registered to join another. So, we make them to understand that the choice of a PFA lies with the employee and then the responsibility of ensuring that everybody has a pin lies with the employer.

    “At the point where the employee comes in and he doesn’t have a pin, the employer is mandated to after 6 months call for a temporary pin for the employee. The employer will then begin to remit his pension funds into the employees’ RSA account,” he added.

  • Fixing pension data challenge with technology

    The National Pension Commission (PenCom) has introduced an Enhanced Contributor Registration System (ECRS) to solve the challenges in the Contributor Registration System (CRS). PenCom advised Retirement Savings Account (RSA) holders to approach their Pension Fund Administrators (PFAs) to provide their Bank Verification Numbers (BVNs) initiated by the Central Bank of Nigeria as well as National Identity Number (NIN), among other biodata. The ECRS and deployment of BVN and NIN in RSAs’ management will promote financial inclusion and boost contributors’ confidence, writes COLLINS NWEZE.

    In this new world, technology is seen as the way to go. It is embraced by institutions that think and act ahead. Technology does not only make agencies’ operations seamless, but it also brings efficiency and trust to their services.

    For the National Pension Commission (PenCom), one of the biggest challenges confronting Nigeria’s pension industry is cleaning up data of contributors and pensioners under the Contributory Pension Scheme (CPS). Thus, to fix this challenge, it became a priority for PenCom to transit from the use of the precursor application, the Contributory Registration System (CRS), to a more robust ECRS to enable the Commission entrench efficiency, transparency and contributors confidence in its operations. The Bank Verification Number (BVN) introduced by the Central Bank of Nigeria (CBN) is also helping the commission to achieve desired result by providing unified data on every contributor.

    PenCom said the  ECRS was designed, developed and deployed to provide  a more dynamic and friendly-user interface even as it fully addresses the issues identified with the CRS. Thus, the deployment of the ECRS, the commission said, would enhance the integrity of contributors’ data and also provide a platform for registration of Micro Pension Plan participants and Cross Border participants, including Nigerians living abroad and foreigners living in Nigeria who wish to contribute under the CPS.

    “Electronic submission of employer code requests by Pension Fund Administrators (PFAs) on employers and the full automation of the process of issuing employer codes. Updates and edits of contributors’ information on the National Databank maintained by the National Pension Commission by the PFAs. The deployment of the ECRS is a major step towards the introduction of the transfer widow, which will enable contributors change to the PFAs of their choice, in line with Section 13 of the Pension Reform Act (PRA) 2014,” the report said.

    The Commission said the ECRS has been integrated with the National Identity Management Commission (NIMC) for authenticating the uniqueness of individuals seeking to register under the CPS. “The ECRS is an electronic platform for the submission of requests by Pension Fund Administrators (PFAs) for the registration of contributors and issuance of Personal Identification Numbers (PINs). Consequently the Commission has transited from the use of the existing Contributor Registration System (CRS) to the ECRS,” the statement said.

    The Pension Reform Act mandates every employer with a minimum of three employees to open an RSA for the workers, which would be funded by both employer and employees. The employer is required to pay ten (10) per cent while the workers are required to contribute eight per cent of total monthly emolument.

    Under the CPS, the PFAs manage the funds, which are in the custody of the Pension Fund Custodians (PFCs).

    PenCom Acting Director-General Mrs Aisha Dahir-Umar said the Commission introduced the ECRS because of the positive impact which technology can make on the pension industry.

    She explained that the ECRS consists of six major functions: contributor registration to generate unique pin, recapture for  contributors, bio-data, signature and picture update, where applicable, temporary PIN for employer-initiated registration and Retirement Savings Account (RSA) verification service.

    Mrs Dahir-Umar said the assets under the CPS had continued to rise hitting N9.03 trillion “since the introduction of the CPS and I am pleased to note that appreciable progress has been made consistently”. According to her, the statistics are evidence that the CPS has improved access to retirement benefits for employees in both the public (Federal Government) and the private sectors.

    For contributors’data integrity, the enhanced registration system also has the following capabilities: dashboard availability for Pension Fund Administrators (PFAs) to view status of their requests and reports and PFAs can also receive notifications via Dashboard, emails and Error Codes.

    Head, Corporate Communications, PenCom, Peter Aghahowa, said the agency’s  staff could also use the ECRS to view status of submissions by PFAs, generate reports and approve requests that require authorisation. In addition to download responses, latest upgrades, patches, employer codes generation, the system also has capacity for National ID verification with NIMC.

    The system went live on June 24, after PenCom assessed the environmental readiness of PFAs and pilot run for the PFAs to use ECRS. This development is significant for the pension industry as it may pave the way for the implementation of other critical policies hitherto prevented by poor contributors’ data.

    One of such policies is the transfer window provided in the Pension Reform Act, 2014 (PRA, 2014), allowing RSA holders to switch PFAs if they so desire. Under the CPS, a comprehensive and reliable data of RSA holders had been a huge challenge, a development some sources said was the reason why PenCom has been reluctant in opening up the transfer window.

    The PRA, 2014 provides that an employee may not more than once in a year, transfer his or her RSA from one PFA to another without producing any reason for such transfer. Section 13 of the Pension Reform Act 2014 also provides that, “subject to guidelines issued by the commission, a holder of a retirement savings account maintained under this Act may not, more than once in a year, transfer his account from one Pension Fund Administrator to another.” Despite this provision, PenCom is yet to authorise PFAs to allow RSA holders to transfer their RSAs from one PFA to another.

    PenCom recently directed RSA holders to provide their National Identity Number (NIN) to their fund managers.  This involved both active and retired RSA holders and is in line with Federal Government’s policy mandating Nigerians to have a NIN.

    NIMC has the mandate to implement the National Identity System (NIS) as part of the Federal Government’s strategy to have a clean NIS. PenCom advised RSA holders to approach their PFAs to provide their BVNs, NIN as well as other biodata. These innovations may be an opportunity for PFAs to clean up their databases to combat identity theft as well as prevent fraud in the industry.

    A Lagos-based pension contributor, Mathias Abiodun, said a clean database will  pave way for the introduction of the transfer window that will enable RSA holders to switch accounts from one PFA to another. He said the role of pension funds in economic development has moved into the focus of public attention, particularly Nigeria’s growing need for long-term capital.

    Abiodun explained that successful mobilisation of pension fund assets and contributions to the growth of any nation were essential policy objectives. “For the first time, our country can boast of a long-term funding base and the impact to date has included the funding of the government and government projects, development of the capital market as well as increased foreign development inflows,” he added.

    Pension assets on the rise

    The PenCom data showed that total pension assets have risen to N9.03 trillion as at March 31, up from the N7.44 trillion it was in January, last year.

    The Commission said these assets have been prudently invested in 24 major asset classes to yield interests to the contributors. Giving a breakdown of how the assets were invested, the Commission said the Federal Government’s securities took a lion-share of the investment as it received well over N6.51 trillion, representing 72.9 per cent of the total assets.

    Specifically, the Federal Government bond got N 4,458,806.38 of the funds, representing 49.37 per cent of the total assets; while N1.94 trillion was invested in treasury bills (21.44 per cent); N11.96 billion in agency bonds (NMRC & FMBN), (0.13 per cent); N94.11 billion in Sukuk (1.04 per cent) and N8.51 billion in Green Bonds, (0.09 percent).

    The commission also said in line with the Multi-fund structure, RSA Fund 1, witnessed N12.73 billion investment and RSA Fund 11, recorded N3.99 trillion investment, RSA Fund 111, saw N2.15 trillion investment while RSA Fund IV, recorded N732.13 billion investment.

    The report showed that N596.61 billion, which was 6.54 percent of the funds, was invested in domestic ordinary shares; while N62.59 billion, amounting to 0.69 percent was invested in foreign ordinary shares.

    Also, N144.31 billion (1.60 per cent) was invested in state government’s securities; corporate bonds got N463.99 billion (5.4 percent); corporate infrastructure bonds, received N8.64 billion, (0.10 percent); corporate green bonds, N5.46 billion(0.06 percent); supra-national bonds got N5.37 billion (0.06 per cent); local money market, N874.39 billion, (9.68 percent) commercial papers, N64.46 billion (0.71 percent); banks – N809.94 billion (8.97 per cent), among others.

    Financial pundits commended the management of PenCom for the implementation of the Pension Reform Act, which has led to more contributors embracing the CPS and deepening of the financial system. They insisted that reforms in the sector have raised accumulations from contributors to N9.03 trillion, as well as brought brighter hopes to retirees.

  • Pension complaints and solutions

    STEVEN: I am a retired teacher from Ifako International School. I was receiving pension of N24,684.76, but since 2003 nothing has been given to me. My NPF no is ANNONYMOUS. I will be happy if you can help and ensure that the money is paid. I also worked at Barachel Model College.

    PTAD: The pensioner was called several times, but no response. He is advised to send his complaint, name and account details to complaints@ptad.gov.ng.

    ALICE: My name is Alice. Well-done and thanks for your concern on pensioners’ matters. My pensioner number is Annonymous. I have done verification since August 2017, but PTAD has not paid me till date. Kindly assist, several pensioners have been paid their pension. I am a state pensioner with Federal share. I retired on April 30, 2008 without payment till date. Thank you.

    PTAD: The pensioner’s complaint has been investigated. She will receive payment as funds are allocated and released by the Federal Government.

    JOSHUA: My name is Joshua. I retired as a Seargent on grade level 05 step 4. My date of first appointment is January 20, 1986 and date of retirement is March 1, 1997. I have done verification in Abuja. Please I have no money, help me  tell pension boss that she should pay my pension. I am helplessly living a hard life.

    PTAD: The pensioner’s complaint has been reviewed by the operations department. He will be paid as funds are allocated and released by the Federal Government.

    SUNDAY: I retired in June 2003 from the service of former governmet agency changed to National Clearing and Forwarding Agency. I received my pension from March 2008 to April 2018. But they stopped my pension after April and I don’t know why. Please help me.

    PTAD: If Mr Eshiet has been verified we advise that he sends a clearly scanned copy of his verification slip to complaints@ptad.gov.ng. If he has not been verified, he can visit our Abuja or Lagos office with his employment documents, BVN and original stamped bank statement from April 2018 till date to be verified and monthly pension payment will resume if eligible.

    MRS  ONIYE:  My Name is Mrs. Oniye. I retired from Federal Government College, Idoani, Ondo State in April,1999 as Grade 2 Typist, G.L 5 Step 10. My gratuity was paid on June 7, 2007. I have not been paid any monthly pension. Please see to my problem by helping me to contact the Pension Transitional Arrangement Directorate (PTAD) on non-payment of my monthly pension since 1999.

    PTAD: The pensioner is advised to send her complaint, name and account details to complaints@ptad.gov.ng. Her telephone number as provided is not reachable.

    BENJAMIN: I am Benjamin, I retired in 2006 under the old NEPA/PHCN and by transition from NELMCO to PTAD. My monthly pension of January and March 2015 were omitted. I went to PTAD for five times and did all I was told to do, but to my surprise, each time I went there, they would tell me ‘no fund’ Please intervene for me.

    PTAD: The pensioner is required to submit his bank statement from July 2014 to date to PTAD Office Abuja, including his complaint to enable us investigate and resolve his complaint.

    ISA: Good evening Madam, this is from one of the Pre 1996 Railway pensioners in Nasarawa State. My name is Isa. Our 18 months arrears (part of 52 months) since the time of former President Goodluck Jonathan is yet to be cleared. Also, railway pensioners are the least paid nationwide. Kindly use your good office to help and solve our problems. We “THANK YOU” for being there for US.

    PTAD: It is an assumed liability by some group of pensioners in the NRC. The group is yet to forward any supporting documents.

  • Ex-speaker urges Dickson to stop pension for gov, deputy

    A former Speaker of the Bayelsa State House of Assembly, Chief Nestor Binabo, has appealed to Governor Seriake Dickson to halt ongoing payment of monthly pensions for former governors and their deputies in the state.

    Binabo, who commended Dickson for mustering political will to withdraw his assent on the controversial pension bill for state lawmakers, said the governor’s action would be complete if he stopped ongoing pensions for his predecessors.

    The former acting governor, who is a chieftain of the All Progressives Congress (APC), explained the state still harboured the Pension Law for Governors and Deputy Governors, 2003.

    He said: “In 2003 the then House of Assembly passed the Pension Bill for governors and deputy governors, which was signed into law by the then governor of the state.

    “It has come to my notice that the recent development is an effort by the current members of the House to repeal the 2003 Law and to make a new law, which would include their pensions as well as enhanced the pension benefits of the governors and their deputies.

    “Fortunately following the outcries of members of the public, Governor Dickson rejected the new bill. This means that the state will revert to the subsisting 2003 pension law.

    “This is still immoral. The right thing to do is to repeal the 2003 pension law for governors and deputies.

    “I have maintained the view that no political office holder including governors and deputy governors should be pensionable.

    “There may be a need to provide security to former governors and their deputies, but they should not be paid pensions. Pensions are the exclusive rights of civil servants, who use significant number of their years to serve their states”.

    Binabo said Dickson would further endear himself to the people if he took a bold step to initiate action for the abrogation of the 2003 pension law.

    “We have had a crop of politicians especially governors and their deputies, who already leveraged on their elective positions to prepare better future for themselves and their families.

    “These politicians within their periods in offices acquired exotic cars, mansions in different parts of the country and abroad as well as assets in companies.

    “It will be a disservice and in fact a double jeopardy for such persons to continue to impoverish, under-develop and fleece the state in the name of pensions.

    “Bayelsa over the years is still having teething problems of development. There is no water, no electricity, dearth of basic infrastructures, large illiterate population and ravaging poverty, yet we pay huge amount of money as pensions to former governors and their deputies. This should also stop”.

    Binabo further appealed to civil society groups, activist and residents to rise and demand an end to the subsisting 2003 executive-induced rascality that awarded pensions to former governors and their deputies.

    He also asked the current lawmakers to repair the damage done to the image of the legislative arm of government in the state and restore legislative confidence by initiating a move to repeal the 2003 pension law.

  • Pension assets stand at N8.906 trn – PenCom

    The National Pension Commission ( PenCom ), says the country’s total pension assets stand at N8.906 trillion as at February ending as against N9 trillion reported in the media.

    Mr Peter Aghahowa, PenCom’s Head of Corporate Communications Department, made this known in an interview with the News Agency of Nigeria (NAN) on Friday in Lagos.

    Aghahowa was reacting to the April 4 media reports that the pension assets had hit N9 trillion.

    He said, “The country’s Pension Assets stood at N8.906 trillion and yet to reach N9 trillion as stipulated.”

    “It would be recalled that sometime in February, the House of Representatives mandated the committee to commence investigations into the activities of PenCom.

    “This is since April 2017, over an allegation of violation of the Act establishing the commission and N9trn pension fund.

    Read Also: Pension scam: Reps summons Emefiele over N33bn deductions

    “In the April 4 reports, Johnson Agbonayinma, the Chairman of House of Representatives Ad-hoc Committee investigating the activities of the nation’s Pension Administrators, threatened to issue a bench warrant on the administrators should they fail to appear before it.

    “But unfortunately, the administrators and other stakeholders deliberately did not appear at the Public hearing which was meant to elicit the needed information for the investigation.”

    Aghahowa further confirmed that the house had called the commission for public hearing in February and that it responded.

    He however, said the commission was deeply concerned about the recent media reports,” Aghahowa said.

  • Maritime retirees protest ‘non-payment’ of pension

    Pensioners of the defunct Nigeria National Shipping Line (NNSL) have protested the non-payment of their pension arrears by the Pension Transitional Arrangement Directorate (PTAD) since last April.

    Their protest,  they said, was to draw attention to their suffering because of the non-payment of their accumulated arrears.

    Their President, Comrade Patrick Azu Ogobuegwu, who addressed the protesters at the Federal Ministry of Justice, Marina, Lagos, said over 200 of his members had died of hardship and lack of care.

    Ogobuegwu recalled that in 2012 they joined other pararstatals, including NITEL, NICON, and Delta Steel Company, Aladja, to mount pressure the Federal Government to reinstate them into the pension payroll in accordance with the Pension Act.

    He said although their request was granted, PTAD accidentally omitted NNSL later corrected it via a letter to the Ministry of Finance dated December 22, 2017, which also directed Finance Ministry to carry out verification and biometric capture of beneficiaries.

    While the pension of other parastatals had since been effected, Ogobuegwu said his members had been left to their fate.

    He said: “We are asking to know the crime NNSL pensioners committed that has made PTAD to deny us verification and payments as was done to others.

    “It is necessary to state here that NNSL is the forerunner among other parastatals liquidated, and the pensioners’ strength is about 800. The total estimate of pension arrears is about N3billion made up of five years’pension arrears, including 33 per cent on payment made in 2008.”

    The Chairman of the committee of the aforementioned parastatals, Mr. Solomon Nyorere, said NNSL members did not deserve the kind of hardship the government was making them to go through.

    One of the pensioners, Mr. Joseph Otsamira, said the situation has left him broke. “I borrowed N70,000 for hospital bill for my wife when she was sick in December, and another N40,000 for my children’s school fee. We are going through an ugly and unfortunate treatment meted out to us by PTAD,”he lamented, asking, “What is our offence?”