The Pension Transitional Arrangement Directorate (PTAD) has announce the approval of a series of far-reaching measures aimed at enhancing the welfare of Defined Benefit Scheme (DBS) Pensioners by President Bola Ahmed Tinubu.
President Tinubu has approved for immediate implementation additional budgetary allocation for the full implementation of the new pension rates, adoption of the proposed Pension Harmonization policy for DBS Pensioners in the 2026 Pension Budget, provision of Health Insurance coverage for all DBS Pensioners under the 2026 Pension Budget and inclusion of the balance of inherited unfunded pension liabilities owed to pensioners of NITEL/MTEL and accrued pension arrears of other parastatal pensioners in the 2026 Budget Proposal.
PTAD in a statement said its Executive Secretary, Tolulope Odunaiya expressed profound appreciation to the president for these historic approvals, noting that it reflects the President’s steadfast commitment to the welfare of Nigeria’s Senior citizens, also citing it as a turning point in DBS Pension Administration.
“These approvals are a testament to the Renewed Hope Agenda’s focus on equity, social justice, and the dignity of our Pensioners. Additionally, it cements the position of Mr. President, as the leader who ushered a new era of far-reaching and impactful welfare benefits for Pensioners under the Defined Benefit Pension Scheme (DBS)” she stated.
The statement signed by Olugbenga Ajayi, Head Corporate Communications of the Directorate added that the reforms will be implemented in phases in collaboration with relevant Government Agencies, reassuring all DBS Pensioners of its continued dedication and unwavering commitment to their welfare.
Recall that the Executive Secretary of PTAD, Tolulope Odunaiya had earlier made a formal submission to the Presidency, requesting the consideration for an emergency budgetary allocation to implement key pension reforms and welfare benefits, including: Implementation of New Pension Rates comprising N32,000 pension increment and 10.66% and 12.95% pension increment for Pensioners of Defunct and Privatized Agencies.
Odunaiya also requested for Pension Harmonization for all DBS Pensioners, Enrolment of DBS Pensioners into the National Health Insurance Scheme (NHIS) and Settlement of accrued Unfunded Pension Liabilities owed to Pensioners of the Defunct Agencies and Treasury-Funded Parastatals.
PTAD reassured all DBS Pensioners of its continued dedication and unwavering commitment to their welfare.
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