The Pension Transitional Arrangement Directorate (PTAD) has announced the payment of N3,366,354,277.64 (Three Billion Three Hundred and Sixty Six Million, Three Hundred and Fifty Four Thousand, Two Hundred and Seventy Seven Naira Sixty Four Kobo) to pensioners of 187 agencies.
This is in fulfillment of President Muhammadu Buhari’s promise to clear outstanding pension arrears for pensioners under the Defined Benefit Scheme.
This payment covers six months of the outstanding arrears of the 33 per cent pension increment for pensioners across five sectors as follows: Education, Health, Other Public Sector Research Institute (OPSRI), Power and Universities.
With the payment PTAD has now offset thirty months arrears for pensioners in agencies across five sectors under Parastatals Pension Department (PaPD).
It would be recalled that between June 2016 and December 2018, PTAD paid twenty four months arrears to pensioners in these agencies.
At the time of its takeover of payment of Parastatals pension in 2015, the Directorate inherited outstanding 33 per cent pension increment liabilities from the various agencies. The Directorate in a statement assured that all arrears will be paid in due course.