The Federal Government has released funds for the disbursement of N5.12 billion in pension arrears to 90,689 Defined Benefit Scheme pensioners under the Pension Transitional Arrangement Directorate.
This is contained in a statement issued on Monday in Abuja by the Head of Corporate Communications of PTAD, Mr Olugbenga Ajayi, according to the News Agency of Nigeria (NAN).
He said that the directorate had finalised the disbursement of the money.
The Nigeria Customs Service, the Nigeria Immigration Service, and Prisons Pension Department (CIPPD) pensioners are 8,626, received N276,032, for one-month arrears; the Police, Pension Department (PPD) pensioners are 9,681, received N619,584, for two months as arrears.
The Civil Service Pension Department (CSPD) pensioners are 12,773, received N408,736, for one-month arrears, and the Parastatals Pension Department (PAPD) pensioners are 59,609, received N3,814,
He said that the payment reaffirms the administration’s commitment to ensuring that pensioners receive their due entitlements in line with the Renewed Hope Agenda of President Bola Tinubu.
Backstory
Last week, President Tinubu approved a series of far-reaching measures aimed at improving the welfare of pensioners under the Defined Benefit Scheme (DBS), marking a significant milestone in Nigeria’s pension reform efforts.
The approvals, which align with the President’s Renewed Hope Agenda, were confirmed in a statement issued by Mr. Olugbenga Ajayi, Head of Corporate Communications at the Pension Transitional Arrangement Directorate (PTAD).
“This move shows President Tinubu’s strong commitment to senior citizens’ welfare and marks a new era in DBS pension management,” said PTAD Executive Secretary, Tolulope Odunaiya.
Among the key measures is the immediate implementation of an extra budgetary allocation to enforce new pension rates for DBS pensioners.
The President also endorsed the adoption of a proposed pension harmonisation policy, which will be incorporated into the 2026 pension budget. Additionally, health insurance coverage for all DBS pensioners has been approved, ensuring access to essential healthcare services.
The proposed reforms include a new pension rate of N32,000 and incremental increases of 10.66% and 12.95% for pensioners from defunct and privatised agencies. Other components of the reform package include harmonisation of pension rates across all DBS pensioners and their enrolment into the National Health Insurance Scheme (NHIS).
In June, PTAD announced the successful disbursement of N8.6 billion in pension arrears to 148,625 eligible DBS pensioners across various sectors. The payments reflect the implementation of the N32,000 pension increment approved by President Tinubu in 2024.
PTAD had previously settled arrears related to the first pension increment of 20% to 28%, which came into effect in January 2024.
