PTAD clears N1.73b pension arrears for 54,206 retirees
The Pension Transitional Arrangement Directorate (PTAD) has completed the payment of outstanding arrears tied to the N32,000 pension increment, bringing relief to thousands of retirees under the Defined Benefit Scheme
The Pension Transitional Arrangement Directorate (PTAD) has completed the payment of outstanding arrears tied to the N32,000 pension increment, bringing relief to thousands of retirees under the Defined Benefit Scheme (DBS).
In a statement issued on Monday, the agency confirmed that a total of N1.734 billion was disbursed to 54,206 eligible pensioners, marking the final settlement of the one-month balance from the increment approved by the National Salaries, Incomes and Wages Commission (NSIWC).
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The statement was signed by the Head of Corporate Communications, Olugbenga Ajayi.
The increment, which took effect from July 29, 2024, had been implemented in phases, with 12 months of arrears paid between December 2024 and December 2025.
The latest disbursement completes the full 13-month obligation covering August 2024 to August 2025.
A breakdown of the payments showed that 25,804 pensioners under the Parastatals Pension Department received N825.7 million, while 28,402 retirees in the Tertiary Education and Health Pension Department were paid N908.9 million. PTAD said both groups have now received their full arrears.
The Directorate, however, clarified that some categories of pensioners are not entitled to the N32,000 increment. These include retirees from Peoples Bank, Assurance Bank, Nigeria Reinsurance, NICON Insurance, NITEL/MTEL, Petroleum Training Institute and PHCN, who had earlier benefited from separate pension increases of 10.66 per cent and 12.95 per cent, in line with a circular issued by the NSIWC.
Reaffirming its mandate, PTAD said it would continue to prioritise timely and transparent pension administration, noting that the settlement aligns with the Federal Government’s commitment to improving the welfare of retirees.
