PTAD pays N1.6bn to 776 NOK deceased pensioners

The Pension Transitional Arrangement Directorate (PTAD) has celebrated a significant milestone by disbursing ₦1,644,358,299.70 to 776 verified and eligible Next of Kin (NOK) of deceased pensioners.

According to the statement released by the Directorate on Wednesday revealing that these deceased pensioners were from the Civil Service, Police, Parastatals, Customs, Immigration, and Prisons Pension Departments.
Giving the breakdown of the Payment:
629 NOK under the Parastatals Pension Department received ₦1,481,839,122.97
103 NOK from the Civil Service Pension Department were paid ₦101,138,214.08.

Also, 43 NOK of Police Pensioners received ₦58,949,082.97 and 1 NOK under the Customs, Immigration, and Prisons Pension Department got ₦2,431,879.68
PTAD’s Executive Secretary, Tolulope Odunaiya, said the payment underscores the Directorate’s commitment to settling the entitlements of deceased pensioners, subject to fund availability.

She emphasized that PTAD is working diligently to clear the backlog of pension liabilities, and this disbursement is a significant step in that direction.

Odunaiya further highlighted that paying death benefits to NOK is a crucial part of PTAD’s mandate, as it provides financial relief to families who have lost their loved ones.
“This payment is expected to bring comfort to the beneficiaries, and PTAD is proud to have played a role in positively impacting their lives”.

Reaffirming PTAD’s dedication to pensioners and their families, Odunaiya assured that the Directorate remains committed to delivering efficient and timely pension payments.

She reiterated that PTAD will continue its efforts to ensure that all pensioners and next of Kin receive their rightful entitlements in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.