FG BEGINS IMPLEMENTATION OF NEW PENSION INCREMENTS FOR 832,000 RETIREES
Read Time:1 Minute, 21 Second
By Aishat Momoh. O.
The Pension Transitional Arrangement Directorate (PTAD) has announced the commencement of new pension increments for retirees under the Defined Benefit Scheme (DBS), with payments reflected in the September 2025 payroll cycle.
In a statement posted on its official X handle, PTAD said the package includes a fixed N32,000 increase alongside percentage adjustments of 10.66% and 12.95% for eligible categories, benefiting about 832,000 pensioners.
The development follows President Bola Tinubu’s approval of an emergency budgetary allocation for pension reforms, after a request by PTAD’s Executive Secretary, Tolulope Odunaiya. The reforms cover pension harmonisation, enrolment of retirees into the National Health Insurance Scheme, and settlement of outstanding pension liabilities.
According to PTAD, the Federal Ministry of Finance has released ₦820.188 billion from the ₦845 billion emergency funding approved by the government, enabling immediate implementation.
“This milestone clearly reaffirms the Federal Government’s dedication to safeguarding the welfare and entitlements of DBS pensioners in line with the Renewed Hope Agenda,” the statement read.
The directorate expressed gratitude to President Tinubu, Finance Minister Wale Edun, Minister of State for Finance Doris Uzoka-Anite, the Accountant-General of the Federation, and other stakeholders for their support. It also commended organised pension groups, including the Nigeria Union of Pensioners, for their cooperation during negotiations.
PTAD assured retirees that it will work with relevant authorities to ensure release of the outstanding funds and sustain implementation of the pension reforms.
The DBS covers public sector retirees who left service before the introduction of the Contributory Pension Scheme in 2004, including those from defunct and privatised agencies.
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
0
0