The Pension Transitional Arrangement Directorate (PTAD) say it has finalized the payment of another instalment of pension arrears arising from the 32,000 Naira increment approved by President Bola Ahmed Tinubu in 2024.
Olugbenga Ajayi, Head, Corporate Communications of PTAD in a statement disclosed that the latest instalment of 8.6 billion Naira, covers all 148,625 eligible Defined Benefit Scheme (DBS) pensioners across the Police, Civil Service, Parastatals, as well as the Customs, Immigrations and Prisons Pensions Departments of the Directorate.
“This payment is in continuation of the Federal Government’s settlement of arrears accruing from the second pension increment of NGN32,000 approved by Mr. President in July 2024. PTAD had earlier fully settled the arrears of the first increment of 20/28% approved by the President, which took effect from January 2024,” he stated.
A breakdown of the payment from PTAD reveal that the sum of 5.7 billion Naira was paid to 59,342 eligible pensioners under Parastatals Pensions Department (PaPD); 2.3 billion Naira was paid to 71,084 eligible pensioners under the Civil Service Pensions Department (CSPD); 310 million Naira was paid to 9,579 pensioners under the Police Pension Department (PPD); and, the sum of 276 million naira was paid to 8,620 pensioners under the Customs, Immigration and Prisons (now Correctional Service) Pension Department.
Announcing the payment, the Executive Secretary of PTAD, Tolulope A. Odunaiya reiterated the unwavering commitment of the federal government towards the full settlement of the outstanding balance accruing from the increment. She further emphasized the unflinching determination of the Federal Government to proceed with its programmes aimed at improving the welfare of pensioners in line with Mr. President’s Renewed Hope Agenda.
Good production costs money and you can support what we do. Please find our details below👇🏾👇🏾👇🏾 Account name: MARKET ONLINE MEDIA Bank: UBA Acc No: 1026401930.
