Retirees to smile as PTAD receives £26.5m repatriated pension fund from UK
Written by freshadmin3 on June 30, 2021
The Pension Transitional Arrangement Directorate (PTAD) has received £26,505,862.97 (Twenty Six Million, Five Hundred and Five thousand, Eight hundred and Sixty-two Pounds, Ninety-Seven Pence) repatriated from the United Kingdom (UK).
These pension funds had hitherto been under investment with Crown Agents Investment Management Limited, CAIML, United Kingdom, UK.
According to the PTAD’s Executive Secretary, ES, Dr Chioma Ejikeme, the repatriation of the fund was made possible by the approval of President Muhammadu Buhari and 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 said the funds would be used to settle part of the accrued arrears owed to its pensioners worth over N120 billion (One hundred and Twenty billion Naira only).
She said: “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.”