The Federal Authorities has launched funds for the disbursement of N5.12 billion in pension arrears to 90,689 Outlined Profit Scheme pensioners underneath the Pension Transitional Association Directorate.
That is contained in an announcement issued on Monday in Abuja by the Head of Company Communications of PTAD, Mr Olugbenga Ajayi, in response to the Information Company of Nigeria (NAN).
He mentioned that the directorate had finalised the disbursement of the cash.
The Nigeria Customs Service, the Nigeria Immigration Service, and Prisons Pension Division (CIPPD) pensioners are 8,626, obtained N276,032, for one-month arrears; the Police, Pension Division (PPD) pensioners are 9,681, obtained N619,584, for 2 months as arrears.
The Civil Service Pension Division (CSPD) pensioners are 12,773, obtained N408,736, for one-month arrears, and the Parastatals Pension Division (PAPD) pensioners are 59,609, obtained N3,814,
He mentioned that the fee reaffirms the administration’s dedication to making sure that pensioners obtain their due entitlements in step with the Renewed Hope Agenda of President Bola Tinubu.
Final week, President Tinubu permitted a collection of far-reaching measures aimed toward enhancing the welfare of pensioners underneath the Outlined Profit Scheme (DBS), marking a major milestone in Nigeria’s pension reform efforts.
The approvals, which align with the President’s Renewed Hope Agenda, had been confirmed in an announcement issued by Mr. Olugbenga Ajayi, Head of Company Communications on the Pension Transitional Association Directorate (PTAD).
“This transfer reveals President Tinubu’s robust dedication to senior residents’ welfare and marks a brand new period in DBS pension administration,” mentioned PTAD Govt Secretary, Tolulope Odunaiya.
Among the many key measures is the fast implementation of an additional budgetary allocation to implement new pension charges for DBS pensioners.
The President additionally endorsed the adoption of a proposed pension harmonisation coverage, which can be included into the 2026 pension finances. Moreover, medical insurance protection for all DBS pensioners has been permitted, making certain entry to important healthcare providers.
The proposed reforms embody a brand new pension price of N32,000 and incremental will increase of 10.66% and 12.95% for pensioners from defunct and privatised companies. Different parts of the reform bundle embody harmonisation of pension charges throughout all DBS pensioners and their enrolment into the Nationwide Well being Insurance coverage Scheme (NHIS).
In June, PTAD introduced the profitable disbursement of N8.6 billion in pension arrears to 148,625 eligible DBS pensioners throughout varied sectors. The funds replicate the implementation of the N32,000 pension increment permitted by President Tinubu in 2024.
PTAD had beforehand settled arrears associated to the primary pension increment of 20% to twenty-eight%, which got here into impact in January 2024.
