PTAD Disburses N3.82 Billion In Settling Pension Arrears To 30,356 DBS Pensioners

The Pension Transitional Arrangement Directorate (PTAD) has disbursed a total of ₦3,817,568,592.80 in accrued pension arrears to 30,356 Defined Benefit Scheme (DBS) Pensioners.

The payment is across the Parastatals Pension Department (PaPD), Defunct and Transferred Agencies Pension Department (DTAPD), and Tertiary, Education and Health Pension Department (TEHPD).

It represents accrued arrears arising from the Back-End Computation (BEC) Review Exercise conducted by the Directorate to address and resolve complaints relating to pension computations and outstanding entitlements of DBS Pensioners.

The disbursement further demonstrates PTAD’s sustained commitment to addressing verified outstanding obligations and improving the welfare of DBS Pensioners under its mandate, according to a statement by Olugbenga Ajayi, Head Corporate Communications.

Speaking on the development, the Executive Secretary of PTAD, Tolulope Odunaiya, expressed appreciation to the affected DBS Pensioners for their cooperation throughout the review process, reaffirming the Directorate’s commitment to the timely, transparent, and accountable payment of verified pension entitlements.

She further noted that this payment reflects the commitment of the Administration of His Excellency, President Bola Ahmed Tinubu, GCFR, to addressing pension-related issues and strengthening pension administration under the Defined Benefit Scheme.

She assured that PTAD remains committed to continuous engagement with DBS Pensioners, prompt resolution of pension-related complaints, and the delivery of efficient, transparent, and accountable DBS pension administration.