The Federal Government has kicked off the disbursement of a ₦32,000 fixed increment to pensioners under the Defined Benefit Scheme (DBS), the Pension Transitional Arrangement Directorate (PTAD) announced. The raise is already reflected in this month’s payroll.
The ₦32,000 increase is a flat-rate boost intended for all eligible retirees under the DBS scheme.
In addition to the fixed increase, there are percentage-based adjustments of 10.66% and 12.95% for certain pensioner classes.
PTAD says the changes are already being implemented, and arrears due from earlier decisions will be cleared.
The number of pensioners expected to benefit is in the range of hundreds of thousands.
The increase offers immediate financial relief to retirees struggling with inflation and rising costs of living.
It signals the government’s resolve to honor pension commitments and restore trust in the pension system.
Effective implementation (timely payments, no exclusion errors) will be critical for its credibility.
