PTAD to Disburse N8.6bn in Pension Arrears to 148,625 Beneficiaries
By Patience Ikpeme
The Pension Transitional Arrangement Directorate (PTAD) has finalized arrangements for the disbursement of another installment of pension arrears, stemming from the N32,000 increment approved by President Bola Ahmed Tinubu in 2024.
This upcoming payment, totaling N8.6 billion, will be distributed to 148,625 eligible pensioners under the Defined Benefit Scheme (DBS).
The beneficiaries span across the Police, Civil Service, Parastatals, as well as the Customs, Immigrations, and Prisons Pensions Departments of the Directorate, according to a statement released by Olugbenga Ajayi, PTAD’s Head of Corporate Communications. This payment represents a continuation of the federal government’s efforts to settle arrears arising from the second pension increment, which took effect in July 2024.
PTAD had previously completed the settlement of arrears from the initial 20/28% increment, which became effective in January 2024. This earlier disbursement included N5.7 billion to 59,342 eligible pensioners in the Parastatals Pensions Department (PaPD); N2.3 billion to 71,084 eligible pensioners in the Civil Service Pensions Department (CSPD); N310 million to 9,579 pensioners in the Police Pension Department (PPD); and N276 million to 8,620 pensioners in the Customs, Immigration and Prisons (now Correctional Service) Pension Department.
Tolulope A. Odunaiya, Executive Secretary of PTAD, reiterated the federal government’s commitment to fully settling the remaining outstanding balance from the increment. The Executive Secretary further stressed the government’s resolve to continue with programs aimed at improving the welfare of pensioners, in line with President Tinubu’s Renewed Hope Agenda.
