PTAD clears final ₦32,000 pension arrears for 54,206 retirees

The Pension Transitional Arrangement Directorate (PTAD) has completed the payment of the outstanding one-month arrears of the ₦32,000 pension increment to eligible retirees under the Defined Benefit Scheme (DBS).

In a statement issued on Monday, PTAD’s Head of Corporate Communications, Olugbenga Ajayi, disclosed that a total of ₦1.73 billion was paid to 54,206 pensioners, marking the full settlement of arrears linked to the increment approved by the National Salaries, Incomes and Wages Commission (NSIWC). The increment took effect from July 29, 2024.

According to the agency, the payments were made through two departments. Under the Parastatals Pension Department, 25,804 pensioners received ₦825.7 million, while 28,402 retirees under the Tertiary Education and Health Pension Department were paid ₦908.9 million.

PTAD explained that the arrears covered a 13-month period from August 2024 to August 2025, noting that 12 months had earlier been settled in phases before the final payment.

The Directorate confirmed that with the latest disbursement, all outstanding obligations related to the ₦32,000 increment have now been fully cleared.

It also clarified that pensioners from some defunct agencies — including Peoples Bank of Nigeria, NICON Insurance, NITEL/MTEL, PHCN, Assurance Bank, Nigeria Reinsurance, and the Petroleum Training Institute — are not eligible for the increment, as they had previously benefited from percentage-based increases of 10.66 per cent and 12.95 per cent, in line with the NSIWC directive.

PTAD reaffirmed its commitment to the welfare of pensioners, emphasizing that transparency, accuracy, and prompt payment remain central to its operations, in alignment with the Federal Government’s Renewed Hope Agenda.