The Pension Transi
tional Arrangement Directorate (PTAD) has begun the verification exercise of Federal Civil Service Pensioners in the South South states.
PTAD Director-General Mrs Nellia Mayshak, announced this in a statement issued by the PTAD on Monday.
The statement said the verification exercise was aimed at bringing pension administration closer to pensioners in the south-south states in order to make life easier for them.
The statement added that PTAD had commenced the monthly payment of 33 per cent pension increase in October 2014 as well as outstanding arrears successfully paid by the federal government to all pensioners in December 2014.
PTAD stressed the Pension Directorate had commenced the national pensioners’ biometrics verification exercise starting first with police pensioners throughout the federation.
The PTAD DG said the agency had constantly done follow up on banks on payments and verification status of pensioners account to ensure prompt payment and better pension management system in the country.
Mayshak explained that PTAD since its inception had record significant payment improvements as a result of the measurers put in place by the pension directorate to remove the duplication of names on the same account and clearing of the pension payroll of ghost pensioners.
She noted that PTAD would put in place good structures to sustain the services provided by the organisation and ensure effective pension administration in the country.
The statement enjoined retired Federal Civil Service Pensioners to avail themselves of the opportunity of presenting all necessary documents to the verification team for smooth exercise in the south-south geo- political zone. Meanwhile, the President, Pension Lawyers Association of Nigeria (PLAN) Mr Mbanugo Udenze said government’s decision to carry out a review of the Pension Act was a right step in the right direction.
Speaking to The Tide in Port Harcourt, the PLAN’s President Mr Mbanugo Udenze said the Pension Reform Act 2014 is a great improvement on the 2014 Act.
He said there is still a lot of work needed to be done on the part of the employers to ensure that the core objectives of the Pension Act are achieved.
The Association’s leader explained that the country was yet to achieve the objectives of the Contributory Pension Scheme as less than 10 per cent of the citizens who the pension scheme is meant to cover, have yet to be covered under it.
He said the Pension Reform Act 2014 has introduced some innovation that would engender the achievement of the objectives of the legislation.
Mbanugo listed some of the innovations to include increase in the contribution of the employers and employees from 7.5 per cent flat contribution to now 10 per cent for the employer and 8 per cent for employee, stressing that both contributions now bring to a total of 18 per cent of the employee monthly emolument as against the former 15 per cent of the contributory pension scheme.
tional Arrangement Directorate (PTAD) has begun the verification exercise of Federal Civil Service Pensioners in the South South states.
PTAD Director-General Mrs Nellia Mayshak, announced this in a statement issued by the PTAD on Monday.
The statement said the verification exercise was aimed at bringing pension administration closer to pensioners in the south-south states in order to make life easier for them.
The statement added that PTAD had commenced the monthly payment of 33 per cent pension increase in October 2014 as well as outstanding arrears successfully paid by the federal government to all pensioners in December 2014.
PTAD stressed the Pension Directorate had commenced the national pensioners’ biometrics verification exercise starting first with police pensioners throughout the federation.
The PTAD DG said the agency had constantly done follow up on banks on payments and verification status of pensioners account to ensure prompt payment and better pension management system in the country.
Mayshak explained that PTAD since its inception had record significant payment improvements as a result of the measurers put in place by the pension directorate to remove the duplication of names on the same account and clearing of the pension payroll of ghost pensioners.
She noted that PTAD would put in place good structures to sustain the services provided by the organisation and ensure effective pension administration in the country.
The statement enjoined retired Federal Civil Service Pensioners to avail themselves of the opportunity of presenting all necessary documents to the verification team for smooth exercise in the south-south geo- political zone. Meanwhile, the President, Pension Lawyers Association of Nigeria (PLAN) Mr Mbanugo Udenze said government’s decision to carry out a review of the Pension Act was a right step in the right direction.
Speaking to The Tide in Port Harcourt, the PLAN’s President Mr Mbanugo Udenze said the Pension Reform Act 2014 is a great improvement on the 2014 Act.
He said there is still a lot of work needed to be done on the part of the employers to ensure that the core objectives of the Pension Act are achieved.
The Association’s leader explained that the country was yet to achieve the objectives of the Contributory Pension Scheme as less than 10 per cent of the citizens who the pension scheme is meant to cover, have yet to be covered under it.
He said the Pension Reform Act 2014 has introduced some innovation that would engender the achievement of the objectives of the legislation.
Mbanugo listed some of the innovations to include increase in the contribution of the employers and employees from 7.5 per cent flat contribution to now 10 per cent for the employer and 8 per cent for employee, stressing that both contributions now bring to a total of 18 per cent of the employee monthly emolument as against the former 15 per cent of the contributory pension scheme.
Stories By Philip Okparaji
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