PTAD pays N3.82bn pension arrears to 30,356 retirees

Nigeria's Pension Transitional Arrangement Directorate (PTAD) has disbursed N3.82 billion in accrued pension arrears to 30,356 retirees. This payment is part of the Directorate's efforts to resolve complaints and address outstanding entitlements for pensioners under the Defined Benefit Scheme (DBS).

The disbursement covers beneficiaries from three departments: Parastatals Pension, Defunct and Transferred Agencies Pension, and Tertiary, Education and Health Pension. The review exercise, known as the Back-End Computation Review, was conducted to identify and rectify discrepancies in pension calculations and ensure accurate payment of benefits.

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This payment represents accrued arrears arising from the Back-End Computation Review Exercise conducted by the Directorate to address and resolve complaints relating to pension computations and outstanding entitlements of DBS Pensioners.

PTAD stated that this initiative underscores the Federal Government's commitment to settling verified pension obligations and enhancing the administration of the DBS. The scheme, which predates the 2004 Contributory Pension Scheme, is government-funded and manages pension rights for eligible retirees.

PTAD Executive Secretary, Tolulope Odunaiya, thanked the pensioners for their cooperation during the review process. She reaffirmed the Directorate's dedication to processing and paying verified pension obligations transparently and promptly, highlighting the current administration's focus on resolving pension-related issues and improving the welfare of DBS retirees.

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This payment reflects the commitment of the Administration of His Excellency, President Bola Tinubu, to addressing pension-related issues and strengthening pension administration.