The Pension Transitional Arrangement Directorate (PTAD) has concluded plans for payment of another instalment of pension arrears arising from the N32,000 increment approved by President Bola Ahmed Tinubu in 2024.

The latest instalment, which totals 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, a statement issued by PTAD Head, Corporate communications, Olugbenga Ajayi said.

“This payment is in continuation of the federal government’s settlement of arrears accruing from the second pension increment of N32,000 approved by Mr. President in July 2024″PTAD explained.

PTAD had earlier fully settled the arrears of the first increment of 20/28% approved by the President, which took effect from January 2024.

This included the sum of NGN5.7 billion was paid to 59,342 eligible pensioners under Parastatals Pensions Department (PaPD);sum of N2.3 billion was paid to 71,084 eligible pensioners under the Civil Service Pensions Department (CSPD); the sum of N310 million was paid to 9,579 pensioners under the Police Pension Department (PPD); and the sum of N276 million was paid to 8,620 pensioners under the Customs, Immigration and Prisons (now Correctional Service) Pension Department.

Executive Secretary of PTAD, Tolulope A. Odunaiya reiterated the unwavering commitment of the federal government towards the full settlement of the outstanding balance accruing from the increment.

The Executive Secretary further emphasized the unflinching determination of the Federal Government to proceed with its programmes aimed at improving the welfare of pensioners in line with Mr. President’s Renewed Hope Agenda.