To enhance pensioners’ welfare President Bola Ahmed Tinubu has approved a series of mouth watering pension package for pensioners under Defined Benefit Scheme (DBS).
Key amongst enhanced package confirmed by the Executive Secretary of PTAD, Tolulope Odunaiya include, budgetary allocation for the full implementation of the new pension rates, adoption of the proposed Pension Harmonization policy for DBS Pensioners in the 2026 Pension Budget, Provision of Health Insurance coverage for all DBS Pensioners under the 2026 Pension Budget and inclusion of the balance of inherited unfunded pension liabilities owed to pensioners of NITEL/MTEL and accrued pension arrears of other parastatal pensioners in the 2026 Budget Proposal.
A PTAD statement issued on Friday by Olugbenga Ajayi, Head, Corporate Communications Unit quoted Executive Secretary of PTAD Mrs Tolulope Odunaiya lauding president Bola Ahmed Tinubu for his approval.
“These approvals are a testament to the Renewed Hope Agenda’s focus on equity, social justice, and the dignity of our Pensioners. Additionally, it cements the position of Mr. President, as the leader who ushered a new era of far-reaching and impactful welfare benefits for Pensioners under the Defined Benefit Pension Scheme (DBS).
“These reforms will be implemented in phases in collaboration with relevant Government Agencies.
PTAD reassures all DBS Pensioners of its continued dedication and unwavering commitment to their welfare”
Odunaiya had earlier made a formal submission to the Presidency, requesting His Excellency’s consideration for an emergency budgetary allocation to implement key pension reforms and welfare benefits, including, implementation of new pension rates:N32,000 pension increment, – 10.66% and 12.95% pension increment for Pensioners of Defunct and Privatized Agencies;
Pension harmonization for all DBS Pensioners, enrolment of DBS Pensioners into the National Health Insurance Scheme (NHIS), settlement of accrued Unfunded Pension Liabilities owed to Pensioners of the Defunct Agencies and Treasury-Funded Parastatals.
