PTAD Pays N3.8bn Pension Arrears to 30,356 Retirees
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PTAD Pays N3.8bn Pension Arrears to 30,356 Retirees
By Alabidun Shuaib AbdulRahman
The Pension Transitional Arrangement Directorate, PTAD has disbursed N3.82bn in accrued pension arrears to 30,356 pensioners under the Defined Benefit Scheme, DBS.
The payment, totalling N3,817,568,592.80, covers pensioners under the Parastatals Pension Department, Defunct and Transferred Agencies Pension Department, and Tertiary, Education and Health Pension Department.
PTAD disclosed this in a statement signed by its Head of Corporate Communications, Olugbenga Ajayi, on Friday.
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According to the statement, the payment followed the Back-End Computation Review Exercise conducted by the directorate to address complaints relating to pension computations and outstanding entitlements of pensioners under the DBS.
It said the disbursement demonstrated PTAD’s commitment to settling verified outstanding obligations and improving the welfare of pensioners under its mandate.
Speaking on the development, the Executive Secretary of PTAD, Tolulope Odunaiya, commended the affected pensioners for their cooperation throughout the review process.
Odunaiya reaffirmed the directorate’s commitment to the timely, transparent and accountable payment of verified pension entitlements.
She said the latest payment reflected the commitment of the President Bola Tinubu administration to addressing pension-related challenges and strengthening pension administration under the Defined Benefit Scheme.
The executive secretary assured pensioners that PTAD would continue to engage with them and resolve pension-related complaints promptly.
“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,” the statement added.
