The Pension Transitional Arrangement Directorate (PTAD) has refuted reports regarding the payment of 33 percent arrears to pensioners under the Defined Benefit Scheme (DBS).

Initial reports had suggested the federal government had released various sums of money to PTAD for the settlement of 33 percent pension arrears to pensioners, claiming that the agency was holding on to the money.
But PTAD in a statement said: “Nothing could be further from the truth.”

It clarified that “PTAD is not in arrears in the payment of Monthly Pension to Civil Service, Parastatals, Police and Customs, Immigration and Prison pensioners. The Directorate pays monthly pension as at when due.

“That PTAD does not operate any account outside the Treasury Single Account (TSA) and all payments are made via GIFMIS or Remita, depending on the mode of release, as the Directorate is 100 per cent treasury funded.

“That PTAD has settled the 33% arrears for at least one year for each of the Pension Departments. The most recent payments made were to the Police (9 months) and to 22 treasury funded agencies, health institutions, universities and polytechnics which had hitherto not been paid anything out of the 33% arrears. The payment made to the latter group was for 12 months and brought them to par with other pensioners in their category.”

It added:”That the balance of the outstanding 33% arrears was included in the total pension liability established and reconciled by the Inter-ministerial Committee on Pension Liabilities which was set up by President Muhammadu Buhari and chaired by the Minister of Finance (HMF).

“The Executive Secretary of PTAD served as secretary of the Committee. The minister of finance is working tirelessly to ensure that funds are made available to settle these obligations which have been graciously approved by the Federal Executive Council (FEC).”