PTAD Pays 33% Pension Increment Arrears. N3.37 Billion Paid to Pensioners of 187 Agencies Under Parastatals Pension Department.

Pension Transitional Arrangement Directorate (PTAD) has paid the sum of N3,366,354,277.64 (Three Billion Three Hundred and Sixty Six Million, Three Hundred and Fifty Four Thousand, Two Hundred and Seventy Seven Naira Sixty Four Kobo) to pensioners of 187 agencies. This is in fulfillment of President Muhammadu Buhari’s promise to clear outstanding pension arrears for pensioners under the Defined Benefit Scheme.

This payment covers 6 months of the outstanding arrears of the 33% pension increment for pensioners across 5 sectors as follows: Education, Health, Other Public Sector Research Institute (OPSRI), Power and Universities.

PTAD has now offset 30 months arrears for pensioners in agencies across 5 sectors under Parastatals Pension Department (PaPD). It would be recalled that between June 2016 and December 2018, PTAD paid 24 months arrears to pensioners in these agencies.

At the time of its takeover of payment of Parastatals pension in 2015, the Directorate had inherited outstanding 33% pension increment liabilities from the various agencies.

The Directorate has assured that all arrears will be paid in due course.