The Pension Transitional Arrangement Directorate has finalised the payment of another instalment of pension arrears, amounting to a N32,000 increment, approved by President Bola Tinubu in 2024.

This is according to a statement by PTAD on Monday.

It stated that the latest instalment of N8.6 billion covered all 148,625 eligible defined benefit scheme pensioners across the police, civil service, parastatals, customs, immigration, and prisons pensions departments of the directorate.

It explained that PTAD had previously settled the arrears of the first increment, ranging from 20 to 28 per cent, approved by the president, which took effect from January 2024.

“The breakdown of the payment is as follows: The sum of N5.7 billion was paid to 59,342 eligible pensioners under Parastatals Pensions Department (PaPD).

“The sum of N2.3 billion was paid to 71,084 eligible pensioners under the Civil Service Pensions Department (CSPD); the sum of N310 million was paid to 9,579 pensioners under the Police Pension Department (PPD).

“The sum of N276 million was paid to 8,620 pensioners under the Customs, Immigration and Correctional Service Pension Department,” said PTAD.

Meanwhile, the executive secretary of PTAD, Tolulope Odunaiya, reiterated the unwavering commitment of the federal government towards the full settlement of the outstanding balance accruing from the increment.

Mr Odunaiya said the federal government would soon proceed with its programmes aimed at improving the welfare of pensioners in line with the president’s renewed hope agenda. 

(NAN)