PTAD pays N2.6bn to pensioners as 33% arrears

Mathew Dadiya, Abuja

The Executive Secretary, Pension Transitional Arrangement Directorate (PTAD) Sharon Ikeazor has approved the immediate payment of the sum of N2,608,689,349.65 billion to Civil Service pensioners for the settlement of the six months arrears of 33% pension increment.

Head, Corporate Communication of PTAD, Olugbenga Ajayi, on Tuesday, stated that the payment was the final tranche being made to Civil Service pensioners on the arrears of 33% increment.

The Daily Times recalls that in July 2010, Federal Government announced a 33% pension increment for pensioners.

The Federal Government began the payment of this increment from January 2014 leaving arrears of 42 months outstanding.

Out of the 42 months that was outstanding as at 2014, 24 months was paid in 2016, 6 months was paid in 2017, 6 months was paid in November 2018 and the balance of 6 months paid now.

With the payment, the Directorate has cleared the backlog of the 33% arrears of three main Departments of Civil Service Pension Department, Police Pension Department and Customs, Immigration and Prisons Department.

Ikeazor noted this payment was in fulfilment of President Muhammadu Buhari’s led administration commitment on pensioners’ welfare.

She further assured that backlog of 33% arrears owed Parastatal Pensioners will be cleared in due course.