The federal government has commenced payment of a N32,000 pension increment to retirees under the Defined Benefit Scheme (DBS), beginning with the September payroll cycle.
The Pension Transitional Arrangement Directorate (PTAD), in a statement on Tuesday, said the adjustment also includes percentage increases of 10.66% and 12.95%, depending on category, for pensioners under its management.
The increment follows PTAD’s 8 August publication of new pension rates, made possible through the partial release of ₦20.188 billion from the ₦45 billion emergency funding approval granted by the federal government.
“This milestone clearly reaffirms the Federal Government’s dedication to safeguarding the welfare and entitlements of DBS pensioners in line with the Renewed Hope Agenda,” the directorate said.
PTAD expressed appreciation to President Bola Tinubu for approving the emergency allocation and acknowledged the support of key officials including Wale Edun, minister of finance; Doris Uzoka-Anite, minister of state for finance; Femi Gbajabiamila, chief of staff to the president; Zacch Adedeji, presidential adviser on revenue; Shamseldeen Ogunjimi, accountant-general of the federation; as well as the national assembly committees on pensions and establishment.
It also commended the Nigeria Union of Pensioners (NUP) and the Federal Parastatals and Private Sector Pensioners Association of Nigeria (FEPPPAN) for their cooperation during negotiations.
PTAD assured retirees that it will continue to collaborate with relevant authorities to release outstanding funds and implement further increments and reforms in the pension system.
