In fulfillment of President Muhammadu Buhari’s promise to clear outstanding pension arrears of pensioners under the Defined Benefit Scheme, the Pension Transitional Arrangement Directorate (PTAD) has paid N375.9 million to 13,754 pensioners of the Nigeria Railway Corporation (NRC).
The Executive Director, PTAD, Mrs. Sharon Ikeazor, in a statement, said the payment was the final installment of the 30 months arrears of the 33 per cent pension increment that was confirmed by the management of NRC.
She said PTAD inherited outstanding 33 per cent pension increment liabilities from various agencies at the time of its takeover of payment of parastatals pension in 2015.
Mrs. Ikeazor said between 2016 and 2018, 24 months arrears was paid to the pensioners of the corporation, leaving an outstanding balance of six months as at December 2018. She said with the latest payment, PTAD has settled fully the 33 per cent arrears of NRC.
She assured other agencies that all arrears will be paid after the completion of Parastatals Pension Department (PaPD) verification exercise later in the year.