The Pension Transitional Arrangement Directorate (PTAD) has highlighted the successful implementation of the 20/28 percent pension increment, with effect from January 2024, into its September 2024 pension payroll as one of its key achievements.
The Directorate said beyond capturing the pension increment into its September 2024 payroll, it has achieved full settlement of accrued arrears.
The Executive Secretary of PTAD, Tolulope Odunaiya, stated this in her welcome address when the House of Representatives Committee on Pensions came on an official oversight visit to its Headquarters in Abuja.
The engagement,led by the Committee Chairman, Jallo Hussaini Mohammed, provided an avenue for the Committee to assess PTAD’s operations and review its budget performance for 2024 as well as the first half of 2025.
The Executive Secretary expressed gratitude to the Committee for its consistent support and collaboration with the Directorate, and used the forum to give an overview of the Directorate’s budget performance.
She pointed out that there is continuous arrears payment of the N32,000, 10.66% and 12.95% pension increments with the available savings made from successive balance of funds in the pension sub-head after paying the monthly pension.
Odunaiya also disclosed that the Directorate had secured Presidential approval for the inclusion of critical pension-related items in the 2026 budget proposal.
These included funding for the full implementation of the N32,000 pension increment, settlement of unfunded pension liabilities, the proposed pension harmonization policy, and health insurance coverage for Defined Benefit Scheme (DBS) pensioners.
While reaffirming PTAD’s steadfast commitment to DBS pensioners, she acknowledged the invaluable partnership and oversight role of the National Assembly in strengthening pension administration in Nigeria.
A statement from PTAD’s Head of Communications, Olugbenga Ajayi said the Executive Secretary also highlighted key challenges facing the Directorate and sought the Committee’s support in addressing them.
In his response, Jallo Hussaini Mohammed commended PTAD for its notable strides in enhancing pension payments and improving service delivery.
He assured that the Committee would continue to work closely with PTAD to ensure the welfare of DBS Pensioners remained a national priority.
