The Federal Government is working out strategy to settle outstanding unfunded pension liabilities to the tune of ninety point one billion naira from accumulated unpaid arrears.
The Executive Secretary, Pension Transitional Arrangement Directorate, Chioma Njikeme disclosed this at a one day capacity building for Abuja based Editors and Pension Correspondents.
In a paper presentation on behalf of PTAD, Chief Administration Office, Yusuf Umar identified defunct Power Holding Company of Nigeria ( PHCN) with over 10,000 pensioners, Delta steel Company with liability of N7.9 billion, NICON Insurance N4.9 billion, Nigeria- Reinsurance with 24 months arrears totalling N1.1 billion and New Nigeria Newspaper with pension liability of N2. 9 billion.
Others are Nigeria National Shipping Line with pension liability of N1.2 billion, Aluminum Smelter Company Limited (ALSCON) with N467 million liability, Nigeria Aviation Handling Company N467 million, defunct Assurance Bank with N570 million and Federal Housing Authority with liability of N389 million. He further noted that PTAD has however, settled a huge part of the liability.
The agency also disclosed that about 107,000 certified pensioners are covered in the payroll after 20,000 pensioners with irregularities were removed from the system.
PTAD however, assured pensioners of its commitment to ensure that their benefits are fully paid.
