The Pension Transitional Arrangement Directorate (PTAD) has completed the payment of outstanding N32,000 monthly pension increment arrears to eligible Defined Benefit Scheme (DBS) pensioners.
A total of N1.73 billion was disbursed to 54,206 retirees, settling the final one-month arrears owed under the increment approved by the National Salaries, Incomes and Wages Commission, effective 29 July 2024.
According to Olugbenga Ajayi, PTAD’s head of corporate communications, the arrears covered a 13-month period from August 2024 to August 2025.
Under the Parastatals Pension Department, 25,804 pensioners received N825.73 million, while 28,402 pensioners under the Tertiary Education and Health Pension Department were paid N908.86 million – both groups now receiving the full 13 months of arrears.
Mr Ajayi noted that PTAD had previously paid 12 months of the arrears in phases between December 2024 and December 2025. “With this final payment, all outstanding obligations of the N32,000 pension increment have been fully settled,” he said.
Some DBS pensioners from organisations including Peoples Bank, Assurance Bank, Nigeria Reinsurance, NICON Insurance, NITEL/MTEL, PTI, and PHCN have already received separate increases of 10.66 per cent and 12.95 per cent. These pensioners are exempted from the N32,000 increment, in line with a National Salaries, Incomes and Wages Commission circular dated 27 September 2024.
“PTAD remains committed to ensuring pensioners’ welfare through transparency, accuracy, and timely payments under the Renewed Hope Agenda,” Mr Ajayi added.