PTAD to Embark on Nationwide Verification of Retirees

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Stories by Ebere Nwoji
The Pension Transitional Arrangement Directorate (PTAD) has said it will embark on a nationwide verification exercise for all pensioners of treasury funded parastatals, agencies and institutions under the Defined Benefit Scheme (DBS).

PTAD said the exercise would cover retirees of federal universities, polytechnics, colleges of education, teaching hospitals, medical centres, the Power Holding Company of Nigeria, Nigeria Railway Corporation, Nigeria Postal Services, research institutes and other treasury of all federally funded parastatals, agencies and institutes.

The Executive Secretary of PTAD, Sharon Ikeazor, explained in a statement that the exercise would also cover retirees of the defunct/privatised agencies who are yet to be verified such as the Aluminum Smelter Company of Nigeria, Nigeria Aviation Handling, Assurance Bank, Nigerian National Shipping Line.
According to her, the exercise would cover all 270 agencies under the Parastatals Pension Department.

“This verification has been necessitated by the need for the directorate to verify and biometrically capture all bona-fide and qualified pensioners under the Defined Benefit Scheme (DBS), acquire relevant documentation and obtain service records needed for accurate and timely pension computation and subsequent payment of pension benefits. The exercise will also help to build a credible database of pensioners of treasury funded agencies under the scheme,” Ikeazor said.

Furthermore, she explained that the first phase of the exercise commenced in Lagos yesterday and would be on up till Thursday, May 9th 2019, between 8am – 4pm daily.
PTAD listed the verification centres to include the POWA Multipurpose Hall, Police Command, GRA. Ikeja; 3Bees Event Centre, Ikorodu Road, Ketu; Multipurpose Hall University of Lagos, Akoka and the Tafawa Balewa Square, TBS, Lagos Island
PTAD also listed other dates and venue the exercise would take place.
FBN General Insurance Launches Alert Service
The FBN General Insurance Limited, a subsidiary of FBNInsurance has launched a special claims alert service for prompt claims settlement tagged: ‘FBNGI ClaimsAlert Service.’

The company has also announced the release of its audited financial statement for the year ended December 31, 2018, with assurance that though the results was impressive its first quarter 2019 results showed that the sky was just a stepping stone to the level of financial height it was targeting.
FBN General Insurance Managing Director, Bode Opadokun, who spoke at a recent press briefing organised by the company to showcase and test run the Claims Alert service said the solution promises to resolve claims of N50,000 and below at the scene of an accident.

According to Opadokun, the service, which is geared towards streamlining claims process for all FBNGI comprehensive auto insurance policy holders comes with some special benefits. These include instant resolution to minor claims, peace of mind to policyholder with FBNGI Claims representative right there to provide support, ease of starting claims process for quick resolution, resolution of claims at scene of incidence by the claims representatives with no extra cost.
He said the ClaimsAlert Service was designed to provide a responsive service, Monday to Friday, from 8am to 5pm, to all FBNGI Comprehensive Auto Insurance policyholders who have been involved in an accident within the Lagos metropolis where the service is currently active such as Eti-Osa, Lagos Island, Lagos Mainland, Surulere, Kosofe, Shomolu and Ikeja.

Opadokun, however said the company would also extend the service to take care of third party motor insurance if the person is a reliable policyholder.
He explained that in case of accident, all that was needed to be done was to take a picture of the vehicle, contact the company through 08000CLAIMSALERT or send an email. He said a dedicated claim team had been engaged by the company to give advice on actions to be taken anytime even outside Lagos.
According to him, the idea of the claimsAlert service came as a result of the company’s monthly performance review and feedback on customers’ experience and expectation.

He said the service was an indirect way of rendering corporate social responsibility service to customers.
He said the company was aware that companies are in business to pay claims and strive as much as possible to fulfil its obligation when it arises.

“Insurance at the first instance opened shop to pay claims, paying claims is not our selling point but rather how fast and prompt we pay is our own selling point.
“We will not because we want to make profit deny our customers their claims right, we pride ourselves as one of the companies that take paying of claims as our major drivers of this business,” he said.

Speaking on the financials for the year ended, December 31, 2018, Opadokun, said FBN General insurance posted N4.389billion premium income against N3.360billion of 2017. Profit before tax for the period stood at N615.58 million, while profit after tax stood at N492.985 million