PTAD month-to-month payout to retirees soars to N1tn

The Pension Transitional Association Directorate says it has paid greater than N1tn in month-to-month pensions to over 200,000 retirees underneath the Federal Authorities’s Outlined Profit Scheme since 2015.

The Director of Company Companies at PTAD, Kabiru Yusuf, disclosed this in Abuja on Thursday whereas presenting a paper at a one-day coaching workshop for pension correspondents and on-line editors.

He mentioned PTAD had “paid a complete of about N1.002tn as month-to-month pension to a median of 212,385 pensioners from the time of DBS take over in 2015 to October 2025,” stressing that the milestone displays the company’s core mandate of restoring order, integrity, and dignity to the legacy pension system.

Based on him, the guideline of the directorate has at all times been “to make sure that one pensioner equals one pension” and “to pay the right pension, to the right pensioner, on the appropriate time.”

Yusuf instructed the journalists that PTAD was created underneath the Pension Reform Act 2014 to take over pension administration for Federal Authorities employees who remained underneath the Outlined Profit Scheme and didn’t transition to the Contributory Pension Scheme.

Because of this, PTAD assumed duty for police pensioners, Customs, Immigration, and Prisons (now Correctional Service) retirees, civil service pensioners, and pensioners of treasury-funded parastatals.

He defined that PTAD operates underneath the supervision of the Federal Ministry of Finance and is regulated by the Nationwide Pension Fee, working inside a wider ecosystem that features the Workplace of the Accountant Normal of the Federation, the Workplace of the Auditor Normal, the Price range Workplace, and oversight committees of the Nationwide Meeting.

He mentioned pension administration earlier than PTAD’s creation was riddled with poor funding, ghost beneficiaries, weak controls, fraud, and years of unresolved complaints.

Yusuf famous that “for a few years, these challenges led to the lack of enormous authorities funds and in the end denied many pensioners and subsequent of kin of deceased pensioners their due pension advantages for many years.”

When PTAD took over, it inherited about 55,000 pension complaints, together with greater than 30,000 eligible pensioners who weren’t on the payroll and greater than 10,000 dying profit circumstances.

He mentioned this collapse of the previous buildings prompted the sweeping reforms that first produced the Pension Reform Act 2004 and later the strengthened PRA 2014, which formally established PTAD.

Yusuf mentioned PTAD has constructed its operations on expertise and powerful governance to keep away from repeating the failures of the previous. He cited the creation of a state-of-the-art information centre, an built-in and digitised pensioners’ database, cell verification for aged or infirm retirees, automated computation instruments, and a payroll supervisor that ensures correct month-to-month funds.

The directorate additionally launched a complaints administration portal and a name centre to enhance service supply. He added that PTAD inherited about N304bn in unfunded pension liabilities however had lowered this to roughly N103.5bn as of September 2025 by way of constant assist from successive administrations.

He mentioned PTAD had secured a number of presidential approvals to enhance pensioners’ welfare, together with Nationwide Well being Insurance coverage Authority protection for all DBS retirees and a coverage for pension harmonisation to put eligible pensioners on the newest wage construction relevant to their cadre.

Based on him, approval was additionally obtained for N45bn in emergency price range funding to implement the N32,000, 10.66 per cent, and 12.95 per cent pension will increase.

Additionally, the President permitted the liquidation of N28.4bn in arrears owed to NITEL and MTEL pensioners and N39.2bn owed to parastatal pensioners overlaying August 2015 to July 2023.

Yusuf acknowledged lingering challenges, together with the absence of a statutory provision making pensions a first-line cost and the shortage of a transparent framework for implementing the constitutionally mandated five-year pension assessment cycle.

He added that the switch of ex-workers of 14 defunct or privatised companies to PTAD had altered the unique assumption that the DBS inhabitants would regularly shrink, elevating questions concerning the timing of the company’s eventual sundown clause.

He mentioned PTAD stays dedicated to strengthening its programs and delivering a pension programme anchored on equity, legality, and compassion, including that the objective is a system the place innovation and empathy information selections and retirees are handled with dignity.

Talking earlier, the Govt Secretary of PTAD, Tolulope Odunaiya, who was represented by Yusuf, mentioned the coaching was organised to equip pension reporters and on-line editors with a transparent understanding of the company’s mandate, operations, and plans.

She mentioned PTAD appreciated the constant assist and correct reportage from the media, which had helped form public understanding of pension administration.

Odunaiya defined that PTAD had labored laborious over time to reform pension funds underneath the Outlined Advantages Scheme and was inspired that the efforts continued to yield outcomes.

She harassed that pension reporting required a correct grasp of the place PTAD began, its present tasks, and its path of journey to make sure accuracy. The PTAD boss added that the Directorate relied on the media to maintain pensioners’ welfare, appropriate misrepresentations, and strengthen collaboration as either side work towards improved service supply.