The Federal Government has released N8.6bn to pensioners under the Defined Benefit Scheme, covering the arrears from the N32,000 pension increase that was approved last year. The latest payout benefits over 148,000 retirees, including those from the civil service, police, parastatals, and correctional services.
PTAD confirmed the payments and said the move reflects the government’s commitment to improving pensioners’ welfare. A large share of the funds went to parastatal pensioners, while others from the civil service, police, and correctional services also received their share. PTAD’s Executive Secretary, Tolulope Odunaiya, noted that this effort aligns with the Renewed Hope Agenda and that more steps will follow to clear remaining balances.
The directorate had previously settled arrears from an earlier pension increase approved in January 2024.
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