The Pension Transitional Arrangement Directorate (PTAD) will release N5.12 billion to settle outstanding pension arrears for 90,689 retirees under the Federal Government’s Defined Benefit Scheme (DBS).
In a statement signed by PTAD’s Head of Corporate Communications, Olugbenga Ajayi, the agency confirmed that the payment covers retirees across the four major pension departments. The disbursement follows the Federal Government’s release of funds to address pending liabilities, in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu.
The breakdown shows that 8,626 retirees in the Customs, Immigration, and Prisons Pension Department will receive N276.1 million; 9,681 retirees in the Police Pension Department will get N619.6 million; 12,773 retirees in the Civil Service Pension Department will collect N408.7 million; and 59,609 retirees in the Parastatals Pension Department will receive N3.81 billion.
PTAD emphasised that the payment reaffirms its commitment to ensuring that pensioners receive their entitlements promptly, while steadily reducing the backlog of unpaid benefits. “We remain committed to the welfare of our pensioners and to clearing outstanding pension liabilities as soon as funds are disbursed by the Federal Government,” the statement read.
The DBS, which caters to federal retirees who left service before the introduction of the Contributory Pension Scheme in 2004, has often faced challenges related to delayed payments and arrears accumulation. PTAD’s intervention is seen as a critical step in restoring confidence among pensioners and their families, many of whom rely solely on these benefits for survival.
This move also aligns with broader pension reform conversations happening across Africa, where several countries are grappling with similar issues of backlogs, inadequate funding, and inefficient administration. Experts note that timely pension payments not only uphold the dignity of retirees but also inject liquidity into the economy, particularly in local communities where these funds are spent.
With over 90,000 pensioners set to benefit from this round of payments, stakeholders are calling for sustained reforms, consistent funding, and improved administrative processes to ensure that retirees receive their dues without delays in the future.
