PTAD disburses N8.6bn arrears to 148,625 pensioners

The Pension Transitional Arrangement Directorate (PTAD) says it  has disbursed N8.6 billion as arrears of the N32,000 pension increment approved by President Bola Tinubu in 2024.

The payment covers all 148,625 eligible pensioners under the Defined Benefit Scheme, including retirees from the Civil Service, Police, Parastatals, and Customs, Immigration and Correctional Service pension departments [1].

Breakdown of Payment

The breakdown of the payment shows that:

– N5.7 billion: Paid to 59,342 eligible pensioners under the Parastatals Pensions Department
– N2.3 billion: Paid to 71,084 pensioners under the Civil War Pensions Department
– N310 million: Paid to 9,579 retirees from the Police Pension Department
– N276 million: Paid to 8,620 pensioners from the Customs, Immigration and Correctional Service Pension Department

The Executive Secretary of PTAD, Tolulope Odunaiya, said the payment was a testament to the Federal Government’s commitment to improving the welfare of pensioners.

She reaffirmed the government’s determination to continue settling outstanding balances accruing from the increment, in line with President Tinubu’s Renewed Hope Agenda.

PTAD had previously settled arrears from the first increment of 20/28 percent, also approved by the President and effective from January 2024. The agency’s efforts aim to ensure the full settlement of outstanding balances and improve the welfare of pensioners