The Pension Transitional Arrangement Directorate, PTAD, has suspended 22,021 pensioners from the payroll following the non-appearance of the pensioners for the verification exercise in 2017. The Executive Secretary of PTAD, Mrs. Sharon Ikeazor, made this known at a news briefing in Abuja.
She said over N6 billion had been saved annually from the process. Mrs. Ikeazor said that the pensioners, who did not show up for the exercise, were given up to end of March to appear, saying that the basis of verification was to identify genuine pensioners.
She explained that the directorate had also taken notice of pensioners living in the Diaspora, adding that pensioners in that category, who had updated their status with PTAD would however not be affected. Mrs. Ikeazor said the suspension of the pensioners is resulting in the saving of N495 million monthly for the Federal Government, which amounted to approximately N6 billion per annum.
“Following the successful conclusion of the nation-wide civil service pensioners’ verification exercise in December 2017, pensioners who did not show up were given up to the end of March 2018 to come forward to be verified.
“A total of 22,021 who did not show up have now been suspended from the payroll, amounting to a monthly savings of N495, 022,747.57 to government. This would translate to approximately N6B per annum,” Mrs. Ikeazor.
She also stated that over 19,000 pensioners whose accounts did not have the required Bank Verification Number were identified in the data management process and suspended from the payroll. Mrs. Ikeazor said the pensioners would only be re-instated after provision of their BVN and due verification conducted.
She explained that the update of Civil Service Pension Department had successfully added 7,969 verified civil service pensioners to the payroll. “These are pensioners who were verified in the South West and North Central in quarter four of 2017.
“Before this addition, over 19,500 verified civil service pensioners from the North West, South East, North East and South-South had been reinstated and paid their arrears,’’ she said. Mrs. Ikeazor said 2,830 civil service pensioners verified in the North East between November 2016 and January 2017, who were wrongly removed from payroll prior to the establishment of PTAD, had been restored on the payroll.
According to her, they have been paid their total arrears of N1.3 billion as at June 2017. She further said another 8,564 civil service pensioners verified in the South-South between January and February 2017 were pay rolled and paid arrears of a total of N4.9 billion from June to Dec 2017.
“We are working to ensure this is expeditiously done so that they can start collecting their monthly pension,“ she said.
On pension assets recovery, she explained that, PTAD had so far recovered cash and non-cash assets of over N16billion from the Pension Board of Trustees and Insurance Underwriters. Mrs. Ikeazor disclosed that the cash component of N6.9billion is domiciled with the CBN in a designated recovery account, created solely for the remittance of such funds.
The Executive Secretary said that outstanding pension assets with the Insurance Underwriters and BOTs as at April 2018 was in excess of N11 billion. She said the property recovered had been forwarded to the Federal Ministry of Power, Works and Housing for proper assessment and valuation
Mrs. Ikeazor disclosed that all recovered funds will be ploughed into settling of pension arrears
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