The Pension Transitional Arrangement Directorate (PTAD) says it has finalised the payment of another pension arrears installment of the N32,000 increment approved by President Bola Tinubu in 2024.
Olugbenga Ajayi, PTAD’s head of corporate communications, announced the development in a statement on Monday.
Ajayi said the latest installment of N8.6 billion covered all 148,625 eligible defined benefit scheme (DBS) pensioners across the police, civil service, parastatals, customs, immigrations and prisons pensions departments of the directorate.
He said the PTAD had earlier settled the arrears of the first increment of 20 percent to 28 percent approved by the president, which took effect from January 2024.
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“The breakdown of the payment is as follows: The sum of N5.7 billion was paid to 59,342 eligible pensioners under Parastatals Pensions Department (PaPD),” Ajayi said.
“The sum of N2.3 billion was paid to 71,084 eligible pensioners under the Civil Service Pensions Department (CSPD); the sum of N310 million was paid to 9,579 pensioners under the Police Pension Department (PPD).
“The sum of N276 million was paid to 8,620 pensioners under the Customs, Immigration and Correctional Service Pension Department.”
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Tolulope Odunaiya, the executive secretary of PTAD, reiterated the unwavering commitment of the federal government towards the full settlement of the outstanding balance accruing from the increment.
Odunaiya also said the federal government would soon proceed with its programmes to improve the welfare of pensioners in line with the president’s ‘Renewed Hope’ agenda.
