148,625 eligible DBS pensioners to get N8.6bn arrears of N32,000 increment – PTAD
The Pension Transitional Arrangement Directorate (PTAD) said that it has finalised the payment of another instalment of pension arrears totalling N8.6 billion to covers all the 148,625 eligible Defined Benefit Scheme (DBS) pensioners.
This move is arising from the N32,000 increment approved by President Bola Ahmed Tinubu in 2024.
In a statement recently signed by Mr. Olugbenga Ajayi, Head, Corporate Communications, PTAD stated that the latest instalment, cuts across the Police, Civil Service, Parastatals, as well as the Customs, Immigrations and Prisons and Pensions Departments of the Directorate.
This payment it further stated, is in continuation of the federal government’s settlement of arrears accruing from the second pension increment of N32,000 approved in July 2024.
In the statement, PTAD said it had earlier fully settled the arrears of the first increment of 20/28 per cent approved by the President, which took effect from January 2024.
The breakdown of the payment is as follows:
1. The sum of N5.7 billion was paid to 59,342 eligible pensioners under Parastatals Pensions Department (PaPD);
2. The sum of N2.3 billion was paid to 71,084 eligible pensioners under the Civil Service Pensions Department (CSPD);
3. The sum of N310 million was paid to 9,579 pensioners under the Police Pension Department (PPD); and,
4. The sum of N276 million was paid to 8,620 pensioners under the Customs, Immigration and Prisons (now Correctional Service) Pension Department.
According to the statement also, the payment was announced by the Executive Secretary of PTAD, Tolulope A. Odunaiya, who reiterated the unwavering commitment of the federal government towards the full settlement of the outstanding balance accruing from the increment.
Odunaiya in the statement, emphasised the unflinching determination of the federal government to proceed with its programmes aimed at improving the welfare of pensioners in line with Mr. President’s Renewed Hope Agenda.