The Pension Transitional Arrangement Directorate (PTAD) said it has finalised the payment of an additional installment of pension arrears arising from the N32,000 increment approved by President Bola Tinubu in 2024.
The latest instalment which totaled N8.6 billion 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.
Announcing the payment, Executive Secretary of PTAD, Tolulope Odunaiya, reiterated the unwavering commitment of the federal government towards the full settlement of the outstanding balance accruing from the increment.
He further emphasised the unflinching determination of the federal government to proceed with its programmes aimed at improving the welfare of pensioners in line with the Renewed Hope agenda.
The directorate in a statement added the payment was in continuation of the federal government’s settlement of arrears accruing from the second pension increment.
PTAD had earlier fully settled the arrears of the first increment of 20/28 per cent approved by the president, which took effect from January 2024.
