NRC Pensioners Seek Transfer of N3.5 bn Pension Fund to PTA

The Nigeria Union of Pensioners, Railway Sector has urged the federal government to ensure urgent transfer of N3.5 billion pension fund in the Pension Board of Trustees (PBOT) of the corporation to the Pension Transition Arrangement Committee (PTAD), which is currently overseeing payment of Railway pensioners benefit under the Defined Benefit Scheme.

The union said the amount was transferred by the Man- agement of Nigeria Railway Corporation (NRC) to the Federation Account without the consent of its members.

At a recent National Executive Council meeting of the union held in Ibadan, the union alleged that the decision of the Railway corporation’s management to transfer the said fund to the federation account was predicated on secret agenda to eventually transfer the pension money into the Railway Management Account so as to have direct control of it and use the money for unspecified project.

The union in a statement signed by its National Chairman Alhaji Abdulkadir Bida and General Secretary, Alhaji Rafiu Enesi Balogun said the action of the NRC management was in utter disregard and nonchalant approach to the outstanding pension liabilities, which is a clear demonstration of lack of commitment to the improvement of the pensioners welfare in spite of the evidence that NRC pensioners are the least paid pensioners in the country.

Expressing further the union’s feelings on the matter, Bida stated that the National Executive Council strongly condemn the action of the NRC management and resolved as follows: That the NRC should implement without further delay, the decision of the pension board of trustees that all liabilities and assets of NRC pension unit be handed over to PTAD in compliance with the directive of Head of Civil Service of the Federation based on the Pension Reform Act (PRA) 2004 and 2014.

According to him, the union wished to strongly appeal to the Accountant General of the Federation (AGF) to please personally ensure that the N3.5 billion is transferred to PTAD so that the fund can be used to address part of NRC pension liabilities.

He affirmed that the leadership of the union is committed to peace and cordial relationship with the NRC management but would not compromise the right and interest of its members.

He on behalf of the National Executive Council of the union appealed to the seven district council chairmen and secretaries of the union to ensure that their members remain calm and wait for the outcome of the NEC position on the matter.

Bida questioned why the said amount was not used to improve the welfare and alleviate the plight of the railway pensioners or why it was not returned to the AGF for the past four years