FG Commences Payment of ₦32,000 Pension Increment to Retirees,.Confirms PTAD

The Federal Government has begun the payment of the recently approved pension increment for retirees under the Defined Benefit Scheme (DBS), according to an announcement by the Pension Transitional Arrangement Directorate (PTAD) on Tuesday. PTAD explained that the increment, which includes a flat ₦32,000 addition alongside percentage adjustments of 10.66 percent and 12.95 percent for various categories of pensioners, will take effect from the September 2025 payroll cycle. The approval followed President Bola Tinubu’s directive for an emergency budgetary allocation earlier this year to provide relief to retired workers affected by rising economic pressures. In a statement issued on its official X handle, the Directorate said the measure is part of ongoing reforms aimed at harmonising pension payments, expanding healthcare coverage to retirees through the National Health Insurance Scheme, and settling long-standing unfunded liabilities of those who retired before the Contributory Pension Scheme was introduced in 2004. No fewer than 832,000 retirees are expected to benefit from the increment. PTAD further disclosed that the Federal Ministry of Finance had already released part of the approved emergency funds to allow for immediate implementation of the payment. While reports vary on the exact figure disbursed, PTAD confirmed that additional funds are still outstanding and assured that it is working closely with the Ministry to secure the balance. The Directorate expressed appreciation to President Tinubu, the Ministry of Finance and other stakeholders for their roles in ensuring the successful rollout of the increment. PTAD also urged pensioners to remain patient and assured them that the new payment will be automatically reflected in their accounts without the need for fresh verification. Stakeholders and pensioners’ associations have welcomed the increment, describing it as a long-awaited relief that will cushion the impact of inflation and the high cost of living on vulnerable retirees. They also called for prompt release of the outstanding funds to guarantee continuity and sustainability of the payments. PTAD reiterated its commitment to ensuring full harmonisation of pensions, prompt settlement of arrears and improved welfare for all retirees under its management,