By Fatima Mukhtar
The Federal Government has begun the long-awaited implementation of a fresh pension increase, with retirees under the Defined Benefit Scheme (DBS) now set to enjoy a ₦32,000 boost on their monthly pay.
The Pension Transitional Arrangement Directorate (PTAD) confirmed that the increment will take effect from the September 2025 payroll, bringing long-needed relief to more than 832,000 pensioners across the country.
According to PTAD, the package comprises a flat ₦32,000 raise, alongside percentage adjustments of 10.66% and 12.95% tailored for different categories of pensioners. The move follows the partial release of ₦820.188 billion out of the ₦845 billion approved by the Ministry of Finance for implementation.
In a statement on its official X handle, PTAD expressed gratitude to President Bola Ahmed Tinubu, the Minister of Finance, the Minister of State for Finance, as well as pension stakeholders, including the Nigeria Union of Pensioners (NUP) and the Federal Parastatals & Private Sector Pensioners Association of Nigeria (FEPPPAN), for backing the initiative.
The increment is part of broader reforms designed to uplift the welfare of retirees who served the nation before the Contributory Pension Scheme was introduced in 2004.
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