The Federal Parastatals and Private Sector Pensioners Association of Nigeria (FEPPPAN), has called on president Bola Ahmed Tinubu and the National Assembly to support the existence of the Pension Transitional Arrangement Directorate (PTAD).
The pensioners’ union in a memorandum it submitted to the House of Representatives’ Special Ad-Hoc Committee on Restructuring of Federal Parastatals, Commissions and Agencies emphasised PTAD’s pivotal role in sustaining the life and wellbeing of tens of thousands of DBS pensioners under its payroll.
The union also cited a white paper recommendation of the 2014 White Paper on the Presidential Committee on Restructuring and Rationalization of Federal Government Parastatals, Commissions, and Agencies, as regards to PTAD’S existence.
FEPPPAN also recalls the White Paper on the Presidential Committee on Restructuring and Rationalization of Federal Government Parastatals, Commissions and Agencies of 2014 under PENCOM that states: “that the Pension Transitional Arrangement Directorate be inaugurated with the provision of PRA 2004 in order to provide single platform for effective and efficient administration of the defined benefits pension scheme”, which was also endorsed in the Steve Oronsaye Report.
“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.” The 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.”
Moreso, FEPPPAN passionately urges President Tinubu and the National Assembly to retain PTAD, stressing that its existence is vital for the well-being of pensioners under the Defined Benefits Scheme. The union also argues that PTAD’s operational framework aligns with the Oronsaye Report’s vision, in terms of ensuring effective and efficient pension administration.
“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 scrapping PTAD because such actions would disrupt the lives of pensioners who depend on its services.”
FEPPPAN’s memorandum also underscores the critical role of PTAD in safeguarding the welfare of Federal Government pensioners. It appeals for policy continuity and governmental commitment to uphold the integrity of pension administration in Nigeria.
As the debate on restructuring Federal Agencies continues, FEPPPAN’s stance resonates as a steadfast advocacy for the rights and dignity of senior citizens who have faithfully served the nation.