In a move aimed at ending persistent protests by retired workers, the Federal Government is seeking nearly the sum of N758 billion to offset pensioners’ arrears.
This was disclosed in Abuja by the Minister of State for Finance, Dr Doris Uzoka-Anite, who was quoted as saying this in a statement by the Head, Corporate Communications Unit of the Pension Transitional Arrangement Directorate (PTAD), Olugbenga Ajayi, at the launch of the revised Service Charter.
Speaking at the launch of the revised Service Charter, Uzoka-Anite revealed that plans are underway by the government to issue N758 billion bond to pay off pension arrears.
The relaunched charter, PTAD said, reaffirms its dedication to transparency, accountability, and excellence in delivering services under the Defined Benefit Pension Scheme (DBS).
Uzoka-Anite commended PTAD for setting new standards in public service delivery.
She emphasised that pensioners deserve an unwavering commitment to their welfare and dignity, noting that the revised Service Charter serves as a vital instrument to strengthen the confidence between pensioners and government institutions.
She further reaffirmed the Ministry’s steadfast commitment to supporting PTAD’s ongoing reforms
The Minister of State also reaffirmed President Bola Tinubu’s commitment to pension reforms, highlighting his understanding of the difficulties pensions are confronting.
She noted that the government’s reforms offer unique opportunities for workers in both the public and private sectors, providing lifetime insurance that ensures financial security after retirement.
She added that the pension scheme had become a vital part of workers’ financial plans, particularly as it offered a reliable alternative when facing economic challenges.
She said: We have been working with Pencom to ensure that pension funds are not only invested securely but also leveraged to drive economic development.”
Giving a ray of hope to retirees, the minister said, “We want pensioners to know that it is now a thing of the past that they have to cry before they see their money.”
Delivering her opening remarks, the Executive Secretary of PTAD, Tolulope Odunaiya, described the revised service charter as more than a document.
She added: “It is a covenant with our pensioners and stakeholders,” while emphasising that the charter embodies PTAD’s determination to set clear standards, adopt innovation, and deliver services with empathy, timeliness, and professionalism.
The Director-General of PenCom, Ms. Omolola Oloworaran, in her goodwill message, praised PTAD’s collaborative spirit within Nigeria’s pension ecosystem.
