The federal government has approved a pension increase of N32,000 for retirees under the Defined Benefit Scheme (DBS), with payments starting from the September payroll.
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The Pension Transitional Arrangement Directorate (PTAD) confirmed the development on Tuesday, explaining that the adjustment also comes with additional percentage increases of 10.66 percent and 12.95 percent for categories of pensioners under its care.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
This follows PTAD’s publication in August announcing new pension increment rates. The raise was made possible after the Federal Ministry of Finance released N20.188 billion out of the N45 billion emergency funding earlier approved by the government.
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LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
According to PTAD, the move reflects President Bola Tinubu’s commitment to improving the welfare of pensioners as part of his Renewed Hope Agenda. The directorate credited the president, along with Finance Minister Wale Edun, Minister of State for Finance Doris Uzoka-Anite, Chief of Staff Femi Gbajabiamila, and other top government officials, for their roles in facilitating the release of funds.
PTAD also commended the leadership of the Nigeria Union of Pensioners and the Federal Parastatals and Private Sector Pensioners Association of Nigeria for their cooperation during negotiations.
The directorate assured retirees that efforts are ongoing to secure the balance of the approved funds while pledging to meet future obligations tied to pension increments and reforms.
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