By Omobola Tolu-Kusimo
• April disbursement process begins
The Pension Transitional Arrangement Directorate (PTAD) has reassured Defined Benefit Scheme (DBS) pensioners that all outstanding payments for March will be settled within the week, following reports that some retirees are yet to receive their monthly pension.
PTAD confirmed that the March pension payments were initiated and largely disbursed on Friday, April 3, in line with its regular payment cycle. However, the Directorate acknowledged that a number of pensioners have experienced delays in receiving their entitlements.
Addressing concerns from affected retirees, the agency emphasised that the delays are not unusual and are often linked to transaction processing timelines across financial institutions.
It assured pensioners that the situation is being actively monitored to ensure that all beneficiaries are credited promptly.
According to PTAD, efforts are already underway to resolve the outstanding payments, with assurances that affected DBS pensioners will receive their funds either today or before the end of the week.
The directorate reiterated its commitment to the welfare of pensioners under the Defined Benefit Scheme, stressing that timely and consistent payment remains a top priority for the agency.
It further disclosed that processes and activities for the next phase of April pension payments have already commenced, underscoring its proactive approach to ensuring seamless disbursement cycles.
The reassurance comes amid growing concerns among pensioners, many of whom rely heavily on their monthly pensions for sustenance and healthcare needs. Any delay, stakeholders note, often creates anxiety within the retiree community.
PTAD urged pensioners to remain calm and avoid panic, noting that the agency is working closely with relevant stakeholders, including banks and payment service providers, to address any bottlenecks.
The agency also encouraged pensioners to utilise its official communication channels to report unresolved payment issues, assuring them that all complaints will be treated with urgency.
Industry observers say sustained improvements in pension administration, particularly within the DBS framework, have helped restore confidence in the system, even as occasional delays still occur.
PTAD reaffirmed that it remains committed to transparency, efficiency, and accountability in pension administration, adding that continuous improvements are being implemented to enhance service delivery.
As the week progresses, pensioners are expected to receive their payments, bringing relief to thousands who depend on the scheme for their daily living expenses.