Promoting Good Governance.

New Pension Scheme Administration Commences In November

The head of the civil service of the federation, HCSF, Bukar Aji, has announced that the Pension Transition Arrangement Department, PTAD, established to centrally manage the old pension scheme is to commence operation with effect from Sunday, November 10.

Aji, according to a statement signed by Tope Ajakaiye, the director of communication in the office of the head of service, has also directed all the pension directors to report directly to the PTAD director-general, Nellie Mayshack.

“Directors of the Civil Service Pension Office, Police Pension Office, Customs, Immigration and Prisons Pension Office, CIPPO, and the Pension Board of Trustees of Federal Government Parastatals have been directed to report directly to the Director-General of PTAD from the take-off date,” it said.

As a result, the head of service also directed the pension offices to prepare detailed hand-over notes of their activities, including assets and liabilities to the director-general.

President Goodluck Jonathan recently approved the establishment of a PTAD in line with the provisions of the Pension Reform Act, 2004, appointing Mayshack to take over the management of three of the offices presently running the old pension scheme, the statement said.

Accordingly, the director-general is expected to spearhead the smooth transition of the three offices into a single pension administration and management under the supervision of the National Pension Commission, PENCOM.

The PTAD is to directly report to the office of the co-ordinating minister for the economy and minister of finance, Ngozi Okonjo-Iweala, for co-ordination and control.