The Pension Transitional Arrangement Directorate (PTAD) has completed the disbursement of NGN8.6 billion in pension arrears to retirees under the Defined Benefit Scheme (DBS). This payment follows the NGN32,000 monthly pension increment approved by President Bola Ahmed Tinubu, GCFR, in 2024.
According to PTAD, the latest installment benefits a total of 148,625 eligible pensioners across various departments including the Civil Service, Police, Parastatals, and the Customs, Immigration, and Prisons (now Correctional Service) Pension Departments.
PTAD clarified that this payment is part of the federal government’s ongoing effort to clear all outstanding arrears linked to the second phase of the pension increment, which was approved in July 2024. Earlier, PTAD had fully settled the arrears for the initial 20/28% increment that began in January 2024.
A breakdown of the disbursement shows that NGN5.7 billion was paid to 59,342 pensioners under the Parastatals Pensions Department (PaPD). Another NGN2.3 billion went to 71,084 pensioners in the Civil Service Pensions Department (CSPD). In the Police Pension Department (PPD), 9,579 pensioners received NGN310 million, while NGN276 million was paid to 8,620 pensioners from the Customs, Immigration, and Prisons Pensions Department.
Speaking on the development, PTAD’s Executive Secretary, Tolulope A. Odunaiya, stated, “This disbursement confirms our commitment to settle all outstanding arrears. It aligns with the Federal Government’s continuous effort to ensure pensioners’ welfare remains a priority.”
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She added that the government remains dedicated to improving the pension system through the Renewed Hope Agenda, a key pillar of the President’s administration. This announcement has been welcomed by stakeholders, reinforcing confidence in the management of pension funds and government transparency.
