PTAD Pays ₦1.73 Billion, Clears All ₦32,000 Pension Increment Arrears for 54,000 Pensioners

By Ifeyinwa Ike

The Pension Transitional Arrangement Directorate (PTAD) has fully settled outstanding arrears of the ₦32,000 pension increment, discharging a total of ₦1,734,592,000 to 54,206 eligible Pensioners under the Defined Benefit Scheme (DBS).

The payment covers a thirteen‑month period from August 2024 to August 2025, following earlier phased payments of twelve months between December 2024 and December 2025.

Olugbenga Ajayi, Head, Corporate Communications, PTAD said under the Parastatals Pension Department (PaPD), 25,804 DBS Pensioners received ₦825,728,000, clearing all thirteen months of arrears owing. Similarly, under the Tertiary Education and Health Pension Department (TEHPD), 28,402 DBS Pensioners were paid ₦908,864,000, also bringing their arrears to zero.

PTAD reiterated 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 received pension increases of 10.66% and 12.95%, are not entitled to the ₦32,000 pension increment, as specified in the NSIWC Circular Ref. No. SWC/S/04/S.542/III/461 of 27 September 2024.

The Directorate reaffirmed its commitment to ensuring the welfare, dignity, and timely payment of DBS Pensioners through transparent, accurate, and efficient pension administration in line with President BolaTinubu’s Renewed Hope Agenda.