PTAD settles N32,000 pension arrears for 54,000 pensioners

The Pension Transitional Arrangement Directorate (PTAD) on Monday said it has completed the payment of all outstanding arrears arising from the ₦32,000 pension increment for beneficiaries under the Defined Benefit Scheme (DBS), disbursing over ₦1.73 billion to more than 54,000 pensioners.

The Head of Corporate Communications at PTAD, Olugbenga Ajayi, who disclosed this in a statement on Monday, said the final tranche covers the last outstanding month owed to eligible pensioners.

According to Ajayi, “the Pension Transitional Arrangement Directorate (PTAD) has successfully completed the payment of the outstanding one (1) month arrears of the ₦32,000 pension increment to eligible Pensioners under the Defined Benefit Scheme (DBS).”

He added that “a total sum of ₦1,734,592,000 (One Billion, Seven Hundred and Thirty-Four Million, Five Hundred and Ninety-Two Thousand Naira only) was disbursed to 54,206 eligible DBS Pensioners, marking the full settlement of arrears arising from the ₦32,000 pension increment approved by the National Salaries, Incomes and Wages Commission (NSIWC), which took effect from July 29, 2024.”

Providing a breakdown, Ajayi stated that under the Parastatals Pension Department (PaPD), “25,804 DBS Pensioners were paid a total of ₦825,728,000, bringing the total arrears paid to PaPD Pensioners to the full thirteen (13) months due.”

He further noted that under the Tertiary Education and Health Pension Department (TEHPD), “28,402 DBS Pensioners were paid a total of ₦908,864,000, bringing the total arrears paid to TEHPD Pensioners to the full thirteen (13) months due.”

Explaining the timeline, he said “the arrears, applicable to DBS Pensioners under both PaPD and TEHPD, covered a thirteen (13)-month period from August 2024 to August 2025,” adding that “PTAD had earlier paid twelve (12) months of these arrears in phases between December 2024 and December 2025.”

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“With this final payment, all outstanding obligations of the ₦32,000 pension increment have now been fully settled,” Ajayi said.

He, however, clarified that some categories of pensioners were excluded, noting that “DBS Pensioners from Peoples Bank of Nigeria, Assurance Bank, Nigeria Reinsurance, NICON Insurance, NITEL/MTEL, Petroleum Training Institute (PTI), and PHCN, who have already benefited from pension increases of 10.66% and 12.95% respectively, are exempted from the ₦32,000 pension increment, as stated in the NSIWC Circular Ref. No. SWC/S/04/S.542/III/461 dated September 27, 2024.”

Ajayi reaffirmed the directorate’s commitment to pensioners’ welfare, stating that “PTAD remains committed to ensuring the welfare and dignity of DBS Pensioners through transparency, accuracy, and timely pension administration in line with His Excellency, President Bola Ahmed Tinubu’s Renewed Hope Agenda.”