PTAD Pays Benefits to 759 Next of Kins of Defunct Agencies

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By Ebere Nwoji

The Pension Transitional Arrangement Directorate (PTAD), has disclosed that in continuation of its settlement of the benefits of next-of-kins (NoK) of deceased pensioners of federal government parastatals, it has paid full benefit to another set of 259 NoKs of NITEL, Delta Steel Company Limited (DSC), New Nigeria Newspapers (NNN), Nigerian Reinsurance Corporation Plc and NICON Insurance Plc beneficiaries.

According to the directorate, this was in addition to 500 NoKs of NITEL retirees who had already been paid the sum of N1,565,190,623.12, following their conclusion of documentation and federal audit clearance for payment.

The agency in a statement, said in the computation of the final entitlements, there was no common cut-off date as the agencies concerned were privatised at different dates.

It also pointed out that the Bureau of Public Enterprises (BPE) had paid pension to all those eligible at the time of privatisation.

“Therefore, the payment made by PTAD only covered the period between the end of the five years after privatisation and the date of demise of the principal pensioners, as only claims beyond those five years are justifiable under extant laws.

“The NOKs of those who died before the expiration of the five-year post privatisation period are not entitled to any additional benefits as the payment made by BPE qualified as guaranteed pension in conformity with the law”, PTAD said

It also said that a total sum of N669, 762, 902. 73 had been paid to the 259 beneficiaries of the aforementioned defunct/privatised agencies, in the order of 149 for NITEL/Mtel, 72 for New Nigeria Newspapers, nine for Nicon Insurance Limited, nine for Nigeria Reinsurance and 19 pensioners of Delta Steel Company.