The Federal Government of Nigeria has released N5.12 billion to clear outstanding pension liabilities for 90,689 retirees under the Defined Benefit Scheme (DBS), managed by the Pension Transitional Arrangement Directorate (PTAD).
This significant disbursement is part of the government’s ongoing efforts to address long-standing pension arrears and provide financial relief to retirees across various sectors.
According to PTAD, the payment covers pensioners from multiple departments, with a breakdown showing that 12,773 Civil Service Pension Department retirees received N408.736 million for one month’s arrears, while 59,609 Parastatals Pension Department retirees were paid N3.814 billion for two months’ arrears.
The funds aim to alleviate the financial burdens faced by retirees, many of whom have waited years for their entitlements.
A statement from PTAD emphasized the government’s commitment to ensuring timely pension payments, noting that this disbursement is a step toward fulfilling promises made to retirees.
“This is a testament to the Federal Government’s dedication to clearing outstanding pension liabilities and improving the welfare of our retirees,” the statement read.
Retirees have expressed mixed reactions to the news. While many welcomed the payments, some voiced concerns over the pace of clearing remaining arrears.
“This is a good step, but many of us are still owed months of pensions. We hope the government continues to prioritize us,” said Alhaji Musa Ibrahim, a retired civil servant in Abuja.
The disbursement comes amid broader efforts by the Federal Government to address pension challenges, including plans to issue N758 billion in bonds to settle accumulated pension debts from the old DBS.
However, pensioners continue to urge faster action, citing economic hardships exacerbated by inflation and rising living costs.
This latest payment follows other recent efforts, including the disbursement of N8.6 billion to 148,625 retirees in 2024, as part of the N32,000 monthly pension increment approved by President Bola Tinubu.
The government has assured retirees that additional funds will be released as part of its 2025 budget to clear remaining backlogs.
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