PTAD Receives £26.5mn Repatriated Pension Funds from CAIM
The Pension Transitional Arrangement Directorate (PTAD) has confirmed the receipt of £26,505,862.97 repatriated from the United Kingdom.
The pension fund was hitherto under-investment with Crown Agents Investment Management Limited (CAIM), United Kingdom.
The announcement by the Directorate came as it launched its service charter that documents its policy to guide both staff and pensioners alike on its service delivery.
The Executive Secretary, Chioma Ejikeme said the repatriation was made possible by the approval of President Mohammadu Buhari and a series of meetings between PTAD Management, Office of the Accountant-General of the Federation and the Crown Agents Investment Management Limited, United Kingdom
The ES in a statement by the Head, Corporate Communications, PTAD Olugbenga Ajayi said the funds will be used to settle part of the accrued arrears owed to its pensioners worth over N120 billion
^This development is indeed a very happy and welcome development for our Senior Citizens and it represents another demonstration of the importance that the Buhari led Federal Government places on the welfare of pensioners”, Ejikeme stated
In another development, PTAD has launched its service charter to serve as an internal policy to guide both staff and pensioners alike on the standards of their service delivery.
The service charter according to Ejikeme was to simply communicate the service promise and expected service delivery standards.
“in PTAD we commit to ensuring the integrity of the Defined Benefits Pension administration system so that pensioners are rest assured that their entitlements will be processed and paid accurately, fully and on time”, stated the Executive Secretary who stated that the Charter mandates all relevant departments and units to resolve all complaints from pensioners within four to 16 days.
The charter also sets a maximum timeline of five days for a response on general information requests, response to requests for information on pension computation from pension departments and update of pensioners change requests to their profile and documents.
For this development, the Minister of Finance, Budget and National Planning, Zainab Ahmed, commended PTAD for the innovative policy.
The minister who was represented by, Peter Longo, said that pensioners deserve dignified treatment, urging the Directorate to continue with their good work.
“ The policy will give the public what to expect as well as educate them on their rights, it’s also crucial for the staff to comply with the charter and international best practices should be adhered to dealing with pensioners”, stated the Minister
Nnenna Akajemeli, the National Coordinator Service Compact with all Nigerians (SERVICOM), in her remarks, commended PTAD for doing a good job when it comes to quality service delivery to the pensioners and other stakeholders.
She said that SERVICOM encourages open and transparent processes in every organisation and that there is a need to train staff on the implementation of the charter service, and also on charter service communicates standard.
The SERVICOM boss opined that “The official launch/presentation of PTAD’s Service Charter today marks a significant step towards service improvement in the Directorate”.
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