In a significant boost to pensioners across the country, the Federal Government has disbursed a fresh instalment of N8.6 billion as arrears of the N32,000 pension increment approved by President Bola Ahmed Tinubu earlier in 2024.
The Pension Transitional Arrangement Directorate (PTAD) confirmed the disbursement in a statement released on Monday by its Head of Corporate Communications, Olugbenga Ajayi. The payment covers 148,625 verified pensioners under the Defined Benefit Scheme.
Beneficiaries of this latest tranche include retirees from the Civil Service, Police, Parastatals, and the Customs, Immigration, and Prisons (now Correctional Service) pension departments.
According to PTAD, the breakdown of the N8.6bn disbursement is as follows:
N5.7 billion was paid to 59,342 pensioners under the Parastatals Pensions Department.
N2.3 billion was disbursed to 71,084 pensioners from the Civil Service Pensions Department.
N310 million went to 9,579 retirees from the Police Pensions Department.
N276 million was allocated to 8,620 pensioners from the Customs, Immigration, and Prisons Pension Department.
Executive Secretary of PTAD, Dr. Tolulope Odunaiya, noted that this payment underscores the Federal Government’s dedication to the full settlement of outstanding pension arrears. She emphasized that the initiative aligns with President Tinubu’s Renewed Hope Agenda, which prioritizes the welfare of senior citizens.
This latest round of payments follows the earlier full settlement of arrears from the first increment of 20/28 per cent, which also took effect from January 2024.
PTAD assured pensioners of its continued commitment to transparent and timely payments as the government intensifies efforts to enhance the living conditions of its retirees.
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