LunagisthubBreaking News: Federal Government Disburses ₦5.12 Billion in Pension Arrears to 90,689 Retirees
The Federal Government has taken a significant step towards addressing the pension arrears crisis, with the Pension Transitional Arrangement Directorate (PTAD) announcing the disbursement of ₦5.12 billion to 90,689 retirees under the Defined Benefit Scheme (DBS).
Customs, Immigration, and Prisons Pension Department (CIPPD):8,626 pensioners received ₦276,032,000
Police Pension Department: 9,681 pensioners received ₦619,584,000
Civil Service Pension Department: 12,773 retirees received ₦408,736,000
Parastatals Pension Department*: 59,609 retirees received ₦3,814,976,000
This payment is part of the government’s commitment to clearing outstanding pension liabilities and aligns with President Bola Tinubu’s Renewed Hope Agenda. PTAD emphasized its dedication to ensuring pensioners receive their due entitlements.
The announcement comes as retirees under the Nigerian Union of Pensioners protested over unpaid entitlements, with some owed up to 35 months of pension arrears. The protest highlights the need for prompt action to alleviate the financial hardships faced by retirees .
The disbursement of ₦5.12 billion in pension arrears is a welcome development for the affected retirees, and it remains to be seen how this payment will impact their lives.
Lunagisthub
