By Victor Ahiuma-Young

Pension Transitional Arrangement Directorate, PTAD, has opened up on why the N32,000 pension increment to pensioners under the Defined Benefit Scheme, DBS, in January.

PTAD however insisted that it continue to implement the recently approved N32,000 pension increment for pensioners under the DBS once budgetary provisions are released for the year, 2025.

The Executive Secretary of PTAD, Tolulope Odunaiya, speaking through the Head, Corporate Communications, Olugbenga Ajayi

explained that the January 2025 pension payments did not include the N32,000 increment because the budgetary provisions have not been released. 

According to her, “PTAD is working assiduously with relevant agencies of government to ensure the increment is fully implemented and arrears paid as soon as possible.

PTAD have paid four months arrears from August to November 2024

to Civil Service Pension Department, CSPD, pensioners and five months arrears from August to December 2024 to pensioners of Customs Immigration and Prison Pension Department, CIPPD, Police Pension Department, PPD, and the university sector of Parastatals Pension Department, PaPD, through strategic funds management.

The Directorate, through this strategic funds management initiative, had  earlier defrayed in full the 20 per cent and 28 per cent pension increment arrears to all pensioners, and promised that PTAD will continue to prioritise pensioners’ needs at all time.