The Pension Transitional Arrangement Directorate (PTAD) said yesterday that it had paid N2,608,455,504.24 (Two Billion, Six Hundred and Eight Million, Four Hundred and Fifty-Five Thousand, Five Hundred and Four Naira, Twenty Four Kobo Only) to 103,710 Civil Service pensioners.
The payment, according to PTAD, is the balance of the 33 percent pension increase to pensioners in the civil service which has dragged on for several years.
It also explained that the payment ”is the final tranche being made to Civil Service pensioners on the 6 months arrears of 33% pension increment and is in fulfilment of President Muhammadu Buhari’s led administration’s commitment to pensioners’ welfare.”
It recalled that in July 2010, the Federal Government announced a 33% pension increase for pensioners with payment of the increment commencing from January 2014 leaving arrears of 42 months outstanding.
It added: “out of the 42 months that was outstanding as at 2014, 24 months was paid in 2016, 6 months was paid in 2017, while 6 months was paid in November 2018.
“The Directorate has now cleared the backlog of the 33% pension arrears of three main Departments of Civil Service Pension Department, Police Pension Department and Customs, Immigration and Prisons Pension Department.
It pledged that the backlog of 33% arrears owed Parastatal Pensioners will be cleared in due course.