Listeners:
Top listeners:
-
play_arrow
Kapital FM 92.9 The Station that Rocks!
The Pension Transitional Arrangement Directorate, PTAD, has finalized the payment of the outstanding one month arrears of the ₦32,000 pension increment to eligible pensioners under the Defined Benefit Scheme, DBS, bringing to a close all obligations tied to the adjustment.
In a statement PTAD disclosed that a total sum of ₦1.73 billion was disbursed to 54,206 eligible DBS pensioners, marking the full settlement of arrears resulting from the ₦32,000 increment approved by the National Salaries, Incomes and Wages Commission, NSIWC, which took effect from July 29, 2024.
A breakdown of the payments showed that under the Parastatals Pension Department, PPD, 25,804 pensioners received a total of ₦825.7 million, effectively clearing all thirteen months of arrears owed to beneficiaries in that category.
Similarly, under the Tertiary Education and Health Pension Department, TEHPD, 28,402 pensioners were paid a cumulative ₦908.9 million, also representing the complete settlement of the thirteen-month arrears due to them.
PTAD explained that the arrears covered a period of thirteen months, spanning August 2024 to August 2025. It noted that twelve months of the arrears had earlier been paid in phases between December 2024 and December 2025, with the latest disbursement settling the final outstanding balance.
The Directorate, however, clarified that certain DBS pensioners are exempted from the ₦32,000 increment. These include retirees from Peoples Bank of Nigeria, Assurance Bank, Nigeria Reinsurance, NICON Insurance, NITEL/MTEL, Petroleum Training Institute (PTI), and PHCN, who have already benefited from separate pension increases of 10.66 percent and 12.95 percent, in line with the NSIWC circular issued in September 2024.
Reaffirming its mandate, PTAD stated that it remains committed to safeguarding the welfare and dignity of pensioners through transparent and timely pension administration, in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu.
PR/Umbwanko Baba
Post comments (0)