The Pension Transitional Arrangement Directorate in charge of the Defined Benefits Scheme under the Federal Government has said it inherited pension liabilities totalling N129.48bn.
This was disclosed in Lagos during a capacity workshop where a presentation, titled ‘Parastatals Pension Department’, was delivered.
In the presentation, the PTAD said it inherited an estimated amount of N32.77bn, N28.96bn and N67.75bn, owed pensioners of the treasury-funded parastatal, ex-PHCN and defunct agencies.
The directorate however said it had cleared almost all the pension liabilities and was ensuring that all outstanding arrears were cleared.
While ensuring that monthly pensions of the retirees were paid, it also said it had taken measures to bring integrity and validity to the pension system.
