The Pension Transitional Arrangement Directorate (PTAD) has approved the immediate payment of the sum of N2,608,455,504.24 (Two Billion, Six Hundred and Eight Million, Four Hundred and Fifty Five Thousand, Five Hundred and Four Naira, Twenty Four Kobo Only) to 103,710 Civil Service pensioners.
The payment is the final tranche being made to Civil Service pensioners on the 6 months arrears of 33% pension increment and is in fulfilment of President Muhammadu Buhari’s led administration’s commitment to pensioners’ welfare.
It will be recalled that in July 2010, the Federal Government announced a 33% pension increase for pensioners. The Federal Government began the payment of this increment from January 2014 leaving arrears of 42 months outstanding. Out of the 42 months that was outstanding as at 2014, 24 months was paid in 2016, 6 months was paid in 2017, while 6 months was paid in November 2018.
The Directorate has now cleared the backlog of the 33% pension arrears of three main Departments of Civil Service Pension Department, Police Pension Department and Customs, Immigration and Prisons Pension Department.
The Directorate has also further assured that backlog of 33% arrears owed Parastatal Pensioners will be cleared in due course.