President Bola Tinubu has approved several key measures to enhance the welfare of Defined Benefit Scheme (DBS) pensioners, under the ‘Renewed Hope Agenda’.
By Nana Hauwa Musa
President Bola Tinubu has approved several key measures to enhance the welfare of Defined Benefit Scheme (DBS) pensioners, under the ‘Renewed Hope Agenda’.
This is contained in a statement on Friday in Abuja by Mr Olugbenga Ajayi, Head of Corporate Communications at the Pension Transitional Arrangement Directorate (PTAD).
Ajayi said the President approved the immediate implementation of extra budgetary allocation for full enforcement of new pension rates for DBS pensioners.
Tinubu also approved the adoption of a proposed pension harmonisation policy for DBS pensioners in the 2026 pension budget.
Provision was also made for health insurance coverage for all DBS pensioners in the 2026 budget.
Ajayi added that the President approved inclusion of unpaid liabilities owed to NITEL/MTEL pensioners and other parastatal retirees in the 2026 proposal.
PTAD Executive Secretary, Tolulope Odunaiya, praised the President for the far-reaching and historic approvals.
She said the move shows his strong commitment to senior citizens’ welfare and marks a new era in DBS pension management.
The News Agency of Nigeria (NAN) reports that Odunaiya had earlier submitted a formal request to the Presidency.
She requested emergency budgetary allocation to enable implementation of vital pension reforms and welfare packages.
These include a new pension rate of N32,000 and increases of 10.66 per cent and 12.95 per cent for pensioners of defunct and privatised agencies.
Other components are pension harmonisation for all DBS pensioners and enrolment in the National Health Insurance Scheme (NHIS).
It also includes settlement of unfunded pension liabilities owed to retirees of defunct agencies and Treasury-funded parastatals. (NAN)