By Opeyemi Adelakun
The Pension Transitional Arrangement Directorate has paid N3.817bn in outstanding pension arrears to 30,356 retirees under the Defined Benefit Scheme.
The beneficiaries were drawn from three pension departments, following a review aimed at resolving discrepancies in pension calculations and unpaid entitlements.
PTAD says the latest payment is part of its efforts to clear verified arrears and improve the administration of pensions for retirees covered by the scheme.
The payment was disclosed by the Directorate on Friday in a statement signed by its Head of Corporate Communications, Olugbenga Ajayi.
According to the statement, the beneficiaries were drawn from the Parastatals Pension Department, Defunct and Transferred Agencies Pension Department, and Tertiary, Education and Health Pension Department.
The N3.817bn disbursement followed a Back-End Computation Review Exercise conducted by PTAD to investigate complaints relating to pension calculations and determine outstanding benefits owed to affected retirees.
“The Pension Transitional Arrangement Directorate has disbursed a total of N3.817bn in accrued pension arrears to 30,356 Defined Benefit Scheme Pensioners,” the statement said.
PTAD explained that the review was designed to identify discrepancies in pension computations and settle verified outstanding obligations.
The Defined Benefit Scheme covers retirees whose pension rights fall under the pre-2004 pension arrangement. It differs from the Contributory Pension Scheme, where workers accumulate retirement savings through individual accounts.
Speaking on the disbursement, PTAD Executive Secretary, Tolulope Odunaiya, commended the affected pensioners for their cooperation during the review process.
Odunaiya said the agency remained committed to processing verified pension obligations promptly and transparently.
“This payment reflects the commitment of the Administration of His Excellency, President Bola Tinubu, to addressing pension-related issues and strengthening pension administration under the Defined Benefit Scheme,” she said.
She assured retirees that PTAD would continue to receive and resolve complaints concerning their pension entitlements.
The Directorate said the latest disbursement was also aimed at strengthening confidence in the pension administration system by ensuring that legitimate claims were properly assessed and settled.
PTAD added that it would continue to engage pensioners, address outstanding complaints and improve its processes for administering the Defined Benefit Scheme.
The agency is responsible for administering the Federal Government’s pension liabilities under the Defined Benefit Scheme, including the verification of beneficiaries, computation of benefits, payment processing and resolution of pension-related complaints.
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