•Pledges swift settlements, zero scams
By Henry Uche
The Pension Transitional Arrangement Directorate (PTAD) has reassured Nigerian retirees under the Defined Benefit Scheme (DBS), that their pensions are in safe hands, with firm guarantees of timely disbursements and an uncompromising stance against fraud.
The agency, while emphasising its commitment to transparency, accountability and the welfare of pensioners, said it has put robust systems in place to ensure that every entitled retiree receives their emoluments as and when due in order to have a blissful retirement.
The assurances came the Executive Secretary/Chief Executive Officer of the Directorate, Mrs. Tolulope Odunaiya, at the 2025 Annual General Meeting (AGM) of the Nigerian Association of Insurance and Pension Editors (NAIPE) held recently in Lagos and co-sponsored by PTAD.
Represented at the event by the Head of Corporate Communications, Mr. Olugbenga Ajayi and the Head of Lagos Regional Office, Mr. Casmir Audu, the PTAD boss, highlighted the Directorate’s strong commitment to the welfare of retirees under the Defined Benefit Scheme (DBS), those who did not transition into the Contributory Pension Scheme (CPS).
“The Directorate is fully committed to protecting the pensioners’ rights as well as their wellbeing, and we are committed to ensure that eligible pensioners receive their pension as and when due, in line with our mandate,” she said.
Emphasising the agency’s track record since its inception in 2013, she noted: “PTAD has never failed to pay pensions every month. That is why we have been able to take pensioners off the streets. This is one of the reasons the present government enjoys credibility, because nobody is diverting money meant for pension payments anymore.”
Odunaiya further explained that PTAD continues to roll out reforms to improve efficiency and ease of access for pensioners, including Field Verification exercises, the I Am Alive Confirmation solution, and Mobile Verification services.
“As we progressed, we discovered that we shouldn’t be calling our fathers and mothers, especially those from far distances, to come all the way to Lagos for verification. So, a technology was introduced—we call it ‘I Am Alive’ Confirmation. Why do we call it that? Because pensions under the DBS are for life. Once you’re still alive, you’re entitled to your pension. I Am Alive allows pensioners to confirm their status from the comfort of their homes using an internet-enabled phone, and anyone can assist with the process,” she explained.
“Once you confirm your status, your pension will continue to run for the next six months.”
She added that the Mobile Verification initiative was created to cater to retirees who may be ill or physically incapacitated. “We schedule mobile confirmation for those who have done the I Am Alive verification but later fall sick or are unable to attend a standard verification.”
Assuring retirees of the integrity of the pension payment system, Odunaiya clarified that PTAD, as a treasury-funded agency, does not hold any funds in commercial banks.
“PTAD doesn’t have any account in any commercial bank because we are a treasury-funded agency. Pensions are paid by the Central Bank of Nigeria directly into pensioners’ accounts. Our responsibility is to prepare payment schedules, which pass through several layers of scrutiny, including the Federal Auditors, Internal Auditors, and the Office of the Accountant-General. So, it’s not something someone can just tamper with,” she emphasised.
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