PTAD receives £26m repatriated pension fund from UK

The Pension Transitional Arrangement Directorate (PTAD) says it has received £26,505,862.97 million pension funds repatriated from the United Kingdom.

These pension funds had hitherto been under investment with Crown Agents Investment Management Limited (CAIML) in the UK and the money is the total sum of the pension investment and return on investment under the old pension scheme.

Chioma Ejikeme (pictured), executive secretary of PTSD, said the repatriation of the fund was made possible by the approval of President Muhammadu Buhari and a series of meetings between PTAD management, office of the Accountant-General of the Federation and the UK-based Crown Agents Investment Management Limited.

Ejikeme noted that the funds will be used to settle part of the accrued arrears owed 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,” she said.