The Pension Transitional Arrangement Directorate has announced the completion of payment of outstanding one-month arrears of the \u20a632,000 pension increment to eligible pensioners under the Defined Benefit Scheme (DBS), bringing relief to thousands of retirees across the country.\n<\/p>\n
In a statement posted on its X handle on Monday, the Head of Corporate Communications, PTAD, Olugbenga Ajayi,\u00a0said a total sum of \u20a61,734,592,000 was disbursed to 54,206 pensioners, marking the full settlement of arrears arising from the pension increment approved by the National Salaries, Incomes and Wages Commission (NSIWC), which took effect from July 29, 2024.\n<\/p>\n
According to the agency, the payment was executed across two departments.\n<\/p>\n
Under the Parastatals Pension Department (PaPD), 25,804 pensioners received a total of \u20a6825,728,000, while under the Tertiary Education and Health Pension Department (TEHPD), 28,402 pensioners were paid \u20a6908,864,000.<\/p>\n
PTAD explained that the arrears covered a 13-month period from August 2024 to August 2025, adding that 12 months had already been paid in phases before the final settlement. <\/p>\n
\u201cWith this final payment, all outstanding obligations of the \u20a632,000 pension increment have now been fully settled,\u201d the Directorate stated.\n<\/p>\n
The agency further clarified that pensioners from certain defunct agencies, including Peoples Bank of Nigeria, NICON Insurance, NITEL\/MTEL, PHCN, Assurance Bank, Nigeria Reinsurance, and Petroleum Training Institute (PTI), among others, who had previously benefited from percentage-based pension increases of 10.66% and 12.95%, are exempted from the \u20a632,000 increment in line with the NSIWC circular.<\/p>\n
PTAD reiterated its commitment to pensioners\u2019 welfare, stressing that transparency and timely payments remain central to its operations.\n<\/p>\n
\u201cWe remain committed to ensuring the welfare and dignity of DBS pensioners through transparency, accuracy, and timely pension administration,\u201d the Directorate said, adding that its efforts align with the Federal Government\u2019s Renewed Hope Agenda.\n <\/p>\n","protected":false},"excerpt":{"rendered":"The Pension Transitional Arrangement Directorate has announced the completion of payment of outstanding one-month arrears of the \u20a632,000…\n","protected":false},"author":2,"featured_media":632908,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[45,49,48,236753,894,133,236754,236755,219000,118351,20495,131,132,236756,25895],"class_list":{"0":"post-632907","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-defined-benefit-scheme","12":"tag-federal-government","13":"tag-finance","14":"tag-nigerian-pensioners","15":"tag-nsiwc","16":"tag-pension-arrears","17":"tag-pension-payment","18":"tag-pensioners","19":"tag-personal-finance","20":"tag-personalfinance","21":"tag-ptad","22":"tag-retirement-benefits"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/632907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=632907"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/632907\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/632908"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=632907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=632907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=632907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}