Nigeria News Today: PTAD Implements Pension Increments for 832,000 Retirees
The Pension Transitional Arrangement Directorate (PTAD) has announced the commencement of the new pension increments for retirees under the Defined Benefit Scheme (DBS), confirming that adjustments will reflect in the September 2025 payroll cycle.
According to a statement posted on its official X handle, PTAD revealed that the increment package includes a fixed ₦32,000 payment alongside percentage increases of 10.66% and 12.95% for eligible categories, benefiting about 832,000 pensioners across Nigeria.
Breakdown of the Increments
The increment follows President Bola Ahmed Tinubu’s approval in August for a welfare enhancement package for DBS pensioners. The reforms include:
- A ₦32,000 increment across board.
- 10.66% and 12.95% increases for pensioners of defunct and privatised agencies.
- Pension harmonisation for all DBS pensioners.
- Enrolment of retirees into the National Health Insurance Scheme (NHIS).
- Settlement of long-standing unfunded pension liabilities.
Funding and Implementation
PTAD confirmed that the implementation was made possible through the partial release of ₦820.188 billion by the Federal Ministry of Finance from the ₦845 billion emergency allocation earlier approved by the Presidency. The funds will cover the initial rollout of the increments.
“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.
Stakeholder Reactions
The Directorate expressed gratitude to President Tinubu, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and Minister of State for Finance, Doris Uzoka-Anite, as well as the Accountant-General of the Federation and parliamentary committees for their interventions.
Organised pension groups, including the Nigeria Union of Pensioners (NUP) and the Federal Parastatals and Private Sector Pensioners Association of Nigeria, were also acknowledged for their cooperation during negotiations and planning.
Who Benefits?
The DBS covers pensioners who retired before the 2004 introduction of the Contributory Pension Scheme, including staff of defunct public institutions, privatised agencies, and treasury-funded parastatals. PTAD assured pensioners that outstanding funds will be released in phases to sustain future increments.
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