Pension Transitional Arrangement Directorate (PTAD) has announced the implementation of the new pension increment rates for pensioners under the Defined Benefit Pension Scheme (DBS), following the approval of President Bola Ahmed Tinubu. The increment, which includes N32,000, 10.66% and 12.95%, will begin to reflect in the September 2025 pension payroll cycle.
This development comes after the Federal Ministry of Finance released N20.188 billion from the emergency funding of N45 billion earlier approved by the Federal Government. According to PTAD, this milestone demonstrates the administration’s continued commitment to safeguard the welfare and entitlements of pensioners in line with the Renewed Hope Agenda.
In a statement issued by the Directorate, it said: “PTAD expresses profound appreciation to the President, His Excellency, Asiwaju Bola Ahmed Tinubu, GCFR, for approving the emergency funding allocation to implement the pension increments as well as other landmark reforms that is certain to enhance the welfare of the beneficiaries and redefine the future of the Defined Benefit Scheme (DBS) pension administration.”
The Directorate also acknowledged the support of key officials who contributed to the implementation process. Those mentioned include the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite; the Chief of Staff to the President, Hon. Femi Gbajabiamila; the Special Adviser to the President on Revenue, Dr. Zacch A. Adedeji; the Accountant-General of the Federation, Mr. Shamseldeen B. Ogunjimi; the Senate Committee on Establishment & Public Service; the House Committee on Pensions; and several other stakeholders.
The statement added: “Their commitment, timely interventions, tireless disposition, partnership and coordinated efforts have been instrumental in ensuring that this day, when the DBS Pensioners will begin to enjoy this enhanced pension payment, is realised.”
PTAD also recognised the roles of the national leadership of the Nigeria Union of Pensioners (NUP) and the Federal Parastatals and Private Sector Pensioners Association of Nigeria (FEPPPAN). According to the Directorate, both unions showed cooperation, understanding, and perseverance during the period when PTAD worked to secure the release of funds.
“PTAD sincerely appreciates the cooperation, constructive discussion, collaboration and perseverance while the Executive Secretary and Management of PTAD worked diligently to secure the release of funds,” the statement noted.
The Directorate further assured pensioners that it would continue to collaborate with the relevant authorities to ensure the release of the outstanding approved funds. It also reaffirmed its dedication to fulfilling all future obligations relating to the pension increments and other landmark reforms that support the DBS pension administration.