From Adanna Nnamani, Abuja
Retirees on the platform of the Federal Parastatals and Private Sector Pensioners Association of Nigeria (FEPPPAN), have appealed to the Federal Government, urging it to maintain the Pension Transitional Arrangement Directorate (PTAD), as the sole agency responsible for managing the Defined Benefits Pension Scheme in Nigeria.
FEPPPAN had earlier written to President Bola Tinubu requesting support for PTAD’s continuity. In their recent submission to the House of Representatives’ Special Ad-Hoc Committee on Restructuring of Federal Parastatals, Commissions, and Agencies, the union said that the directorate’s role has been crucial in supporting thousands of DBS pensioners.
FEPPPAN also referenced the 2014 White Paper from the Presidential Committee on Restructuring and Rationalization of Federal Government Parastatals, Commissions, and Agencies, operating under PENCOM, which recommended the establishment of the Pension Transitional Arrangement Directorate to streamline and enhance the administration of the defined benefits pension scheme as stipulated in the PRA 2004.
It noted that this recommendation was further supported in the Steve Oronsaye Report.
The union further argued that the establishment of PTAD marked a critical shift towards improved governance and fairness in pension management, addressing systemic challenges that plagued retirees previously.
“Its creation was a humane and respectful response to the plight of senior citizens who endured mismanagement of pension funds,” FEPPPAN memorandum stated.
Furthermore, the union highlighted some achievements and impact of the agency, saying: “After over a decade of PTAD’s operations, significant milestones have been achieved. PTAD successfully implemented a comprehensive database of pensioners, eliminating previous gaps in record-keeping.
“Through rigorous verification processes, PTAD has eradicated fraudulent claims of pensions by non-existent beneficiaries. Measures implemented by PTAD have curbed fraudulent activities that marred the Defined Benefits Scheme, promoting financial accountability. Administrative bottlenecks in accessing pension services have been significantly reduced, with innovations like the “I am alive Confirmation” allowing pensioners to confirm their status conveniently every six months.
The union added that “Instead of scrapping or merging with any other Agency, we urge you to rather support PTAD by ensuring it continues its current culture of regular and punctual pension payments, a fundamental right of retirees. We strongly oppose any consideration of merging or scraping PTAD because such actions would disrupt the lives of pensioners who depend on its services.”