Business
BPE Pledges Support For Pension Management
The Bureau of Public Enterprises (BPE) has pledged to collaborate with the Pension Transitional Arrangement Directorate (PTAD) for seamless execution of its mandate for the benefit of pensioners in the country.
This is contained in a statement made available to newsmen on Wednesday in Abuja by the Head Public Communication, Mr Alex Okoh.
The Director-General BPE, Mr Benjamin Dikki, made this known when management team of PTAD, led by its Director General, Mrs Nellie Mayshak, visited the bureau, the statement said.
Dikki said in the statement that the country pensioners had in the past suffered untold hardship which required the immediate attention of PTAD .
The statement said the past mismanagement of pension funds by managers in the private and public sectors prompted the reforms of the pension sector that gave rise to the Pension Act.
It assured that BPE would assist the directorate by providing database on pensions paid to ex-workers of privatised companies in the country as well as assisting with human resources where necessary.
Earlier, the Director General, PTAD, Mrs Nellie Mayshak, said in the statement that funding pension liabilities in the private and public sectors posed a great challenge to her organisation.
The statement said insurance companies which were underwriters to pension funds in the country had in their custody N7billion.
It said that PTAD was having problem getting the companies to release these funds for them to be able to pay credible pensioners.
The statement said that PTAD would like to collaborate with BPE to fashion out a way forward.