Pension News

PTAD presents N134.8 Billion Budget for 2024 Payment of Pension, Gratuities & unfunded liabilities

The Members of the Senate Committee on Establishment & Public Service and House Committee on Pension, at a joint sitting for the presentation of 2024 budget proposal by PTAD, noted that PTAD has performed well in the management of the Defined Benefit Pension Scheme in the country.

The joint Committee stated this when Dr. Chioma Ejikeme, Executive Secretary, PTAD made her presentation on the performance of the Directorate in the year 2023 and her budget proposal for year 2024.

In her presentation, Dr. Ejikeme told the Committees the various achievements made by the Directorate including regular payment of monthly pension, introduction of I Am Alive Confirmation Solution, the establishment of Anti-corruption and Transparency Unit and enrolment of many pensioners to the payroll.

She informed the Committees that a new project that will address the complaints of the Next of Kin of the deceased pensioners has been launched. She said the project will address all issues militating against payment of gratuity to pensioners and death benefits to the NoK.

Members of the committees noted that pension is very critical and central to the well-being of our senior citizens and enjoined PTAD to be multi-tasking in its activities and organise more stakeholders’ engagements for Nigerians to appreciate government’s efforts in pension administration.

The Executive Secretary therein presented the budget of N134.8BN for the payment of pension, Gratuities and unfunded liabilities for the year 2024.

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