NUP hails Tinubu, PTAD over 20 percent increment, minimum pension implementation

The Nigeria Union of Pensioners (NUP) has commended President Bola Ahmed Tinubu for his unwavering commitment to improving the welfare of pensioners across the country.

In a statement signed by its National President, Comrade Godwin Abumisi, the union praised the President for implementing significant measures to alleviate the economic challenges faced by retirees under the Defined Benefit Scheme (DBS).

The union highlighted two key achievements of the administration: the recent approval of a 20 percent pension increase for DBS pensioners and the introduction of a minimum pension of N32,000. According to the NUP, these initiatives reflect President Tinubu’s “love and commitment to ensuring pensioners in the country are supported and their rights protected and promoted.”

The 20 percent pension increase, backdated to January 2024, has been paid to many DBS pensioners, while the minimum pension of N32,000, approved in July 2024, has also reached several beneficiaries. Comrade Abumisi stated, “This is the first of its kind that pensioners will receive any form of pension increase without protests in different forms. We hail you, Mr. President.”

The NUP also expressed gratitude to the Pension Transitional Arrangement Directorate (PTAD) and its new Executive Secretary, Tolulope Odunaiya, for ensuring the timely disbursement of the pension increments. The union acknowledged Odunaiya’s dedication, saying, “We appreciate her promise to ensure that the 20 percent pension increase is paid before the end of December 2024 and her strict implementation of President Tinubu’s policy direction on pensioners’ welfare.”

However, the union raised concerns over discrepancies in the payment process. Despite progress, not all pensioners have received their entitlements. “As of today, the 20 percent pension increment arrears have not been fully paid to all DBS pensioners. Furthermore, 70 percent of pensioners are yet to receive the N32,000 minimum pension,” the statement revealed.

The NUP called on PTAD to address these discrepancies promptly, urging the agency to review its records and rectify any errors in the payment process. “We demand that PTAD pay serious attention to ensuring no DBS pensioner is omitted or deprived of their rights in the name of system failure or man-made error in the payment processes,” the union emphasised.

Despite these challenges, the union remained optimistic about the administration’s commitment to pensioners. They reiterated their gratitude to President Tinubu, describing the reforms as a significant step forward. “We are grateful for the 20 percent pension increase and the N32,000 pension award that is today a minimum pension,” the statement added.

The NUP emphasised the significance of these reforms in improving the quality of life for retirees, particularly during challenging economic times. “The approval of these measures is a testament to the government’s understanding of the economic realities facing pensioners and its determination to provide relief,” the union noted.

As the administration continues its efforts to support pensioners, the NUP urged all stakeholders to work collaboratively to address the remaining issues. They expressed hope that ongoing reforms would ensure a brighter future for all retirees in Nigeria.

The union concluded with a heartfelt message to the President: “We appreciate your love and commitment to pensioners. Your actions have given us hope, and we look forward to seeing all pensioners benefit from these life-changing reforms.”

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