30,356 FG Retirees Receive N3.82bn Pension Arrears Payment

Relief has come the way of 30,356 Federal Government retirees under the Defined Benefit Scheme, DBS, following the disbursement of N3.82 billion in accrued pension arrears by the Pension Transitional Arrangement Directorate, PTAD.

The Directorate disclosed that it paid a total of N3,817,568,592.80 to affected DBS pensioners across its Parastatals Pension Department, PaPD; Defunct and Transferred Agencies Pension Department, DTAPD; and Tertiary Education and Health Pension Department, TEHPD.

According to PTAD’s Head of Corporate Communications, Olugbenga Ajayi, the payment represents accrued pension arrears arising from the Back-End Computation, BEC, Review Exercise conducted by the Directorate to address complaints concerning pension computations and outstanding entitlements of retirees.

PTAD said the latest disbursement underscores its continued commitment to resolving verified outstanding pension obligations and improving the welfare of pensioners under its mandate.

Speaking on the development, PTAD Executive Secretary, Tolulope Odunaiya, expressed appreciation to the affected DBS pensioners for their cooperation throughout the review process.

Odunaiya reaffirmed the Directorate’s commitment to ensuring the timely, transparent and accountable payment of verified pension entitlements to retirees.

She said the payment also reflected the commitment of the administration of President Bola Ahmed Tinubu to addressing pension-related challenges and strengthening pension administration under the Defined Benefit Scheme.

According to her, PTAD would continue to engage with DBS pensioners and work towards the prompt resolution of pension-related complaints, particularly those involving verified outstanding entitlements.

The Directorate further assured pensioners of its commitment to providing efficient, transparent and accountable administration of the Defined Benefit Scheme.

The latest payment followed the Back-End Computation Review Exercise, which was designed to resolve complaints relating to pension computations and outstanding entitlements of retirees under PTAD’s jurisdiction.

PTAD also pledged to sustain efforts to identify and settle verified outstanding pension obligations while strengthening its engagement with pensioners across the various departments under its purview.