Pension Committee Tasks PTAD on Gratuity Provisions and CSR Compliance

The House of Representatives Committee on Pensions has charged the Pension Transitional Arrangement Directorate (PTAD) to prioritize gratuity provisions, capital project implementation, and Corporate Social Responsibility (CSR) compliance in the 2026 Appropriation Bill.

The Committee commended PTAD for its commitment to pension reforms and retirees’ welfare under the Defined Benefit Scheme.

PTAD’s Executive Secretary, Tolulope Odunaiya, highlighted the Directorate’s achievements despite funding constraints. These include a 28% pension increase for retirees, payment of arrears to over 155,000 pensioners, and introduction of health insurance coverage.

The Directorate also received presidential approval to clear outstanding arrears and strengthen the Defined Benefit Scheme.

The Committee Chairman, Jallo Mohammed, emphasized the importance of CSR, urging PTAD to prioritize it in future plans and ensure provisions are made for it in the 2026 budget. PTAD’s 2025 budget performance shows significant progress, with pension appropriations, unfunded pension liabilities, and personnel expenditure being key areas of focus.