The Federal Government’s Pension Transitional Arrangement Directorate has paid out N8.6 billion in arrears for the N32,000 pension increase that President Bola Tinubu authorised in 2024.
All 148,625 qualified pensioners under the Defined Benefit Scheme are covered by the most recent instalment, according to a press release issued on Monday and signed by Olugbenga Ajayi, Head of Corporate Communications at PTAD.
These comprise retirees from the pension departments of Customs, Immigration, and Prisons (formerly Correctional Service), the Police, Parastatals, and the Civil Service.
The payment of an additional pension arrears instalment, resulting from the N32,000 increase approved by President Bola Tinubu in 2024, has been processed by the Pension Transitional Arrangement Directorate (PTAD).
“The latest instalment, which totals N8.6bn, covers all 148,625 eligible Defined Benefit Scheme pensioners across the Police, Civil Service, Parastatals, as well as the Customs, Immigration and Prisons Pensions Departments of the Directorate,” the statement read.
A breakdown of the payment shows that N5.7bn was paid to 59,342 eligible pensioners under the Parastatals Pensions Department, while N2.3bn went to 71,084 pensioners under the Civil Service Pensions Department.
READ ALSO: Court Dismisses FG’s Request to Arrest Natasha in Defamation Case
Additionally, N310m was paid to 9,579 retirees from the Police Pension Department, and N276m was disbursed to 8,620 pensioners from the Customs, Immigration and Prisons Pension Department.
Tolulope Odunaiya, the Executive Secretary of PTAD, stated that this is another proof of the Federal Government’s steadfast resolve to refund the whole amount owed resulting from the rise.
In keeping with President Tinubu’s Renewed Hope Agenda, she also underlined the government’s commitment to keep enhancing pensioners’ welfare.
Prior to this, PTAD had paid off all of the arrears from the initial 20–28 percent increase, which was also authorised by the President and went into effect in January 2024.
