Minimum pension implementation:   NUP applauds Tinubu, PTAD over 20% increment 

 

The Nigeria Union of Pensioners (NUP) has commended President Bola Ahmed Tinubu for his unwavering commitment to improving the welfare of pensioners across the country. 

A statement signed by its National President, Comrade Godwin Abumisi, the union praised the president for implementing significant measures to alleviate the economic challenges faced by retirees under the Defined Benefit Scheme (DBS).

The union highlighted two key achievements of the administration: the recent approval of a 20% pension increase for DBS pensioners and the introduction of a minimum pension of ₦32,000. According to the NUP, these initiatives reflect President Tinubu’s “love and commitment to ensuring pensioners in the country are supported and their rights protected and promoted.”

The 20% pension increase, backdated to January 2024, has been paid to many DBS pensioners, while the minimum pension of ₦32,000, approved in July 2024, has also reached several beneficiaries. Comrade Abumisi stated, “This is the first of its kind that pensioners will receive any form of pension increase without protests in different forms. We hail you, Mr. President.”

The NUP also expressed gratitude to the Pension Transitional Arrangement Directorate (PTAD) and its new executive secretary, Tolulope Odunaiya, for ensuring the timely disbursement of the pension increments. The union acknowledged Odunaiya’s dedication, saying, “We appreciate her promise to ensure that the 20% pension increase is paid before the end of December 2024 and her strict implementation of President Tinubu’s policy direction on pensioners’ welfare.”

However, the union raised concerns over discrepancies in the payment process. Despite progress, not all pensioners have received their entitlements. “As of today, the 20% pension increment arrears have not been fully paid to all DBS pensioners. Furthermore, 70% of pensioners are yet to receive the ₦32,000 minimum pension,” the statement revealed.