PTAD spends N375m to clear NRC ex-workers’ pension arrears

 Uche Usim, Abuja

The Pension Transitional Arrangement Directorate (PTAD) has spent N375,936,732 to clear the outstanding 30 months of the 33% increment arrears for ex-workers of Nigeria Railway Corporation (NRC) under the defined benefit scheme.

The Executive Secretary, PTAD, Sharon Ikeazor who made the disclosure stated that the Directorate inherited 30 months arrears of 33% from various agencies

as at June 2015.

However, between 2016 and 2018, 24 months arrears was paid to the pensioners of the Corporation leaving an outstanding balance of 6 months as at December 2018. With the latest payment, PTAD has settled fully the 33% 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.