The Pension Transitional Arrangement Directorate (PTAD) has paid N13.87 billion in pension increment arrears to 18,822 Defined Benefit Scheme (DBS) pensioners.
PTAD announced this in a statement by its Head of Corporate Communications, Mr Olugbenga Ajayi, on Sunday in Abuja.
He stated the payment covers arrears from the 13.8 per cent and 20.55 per cent pension increments approved by President Bola Tinubu.
Ajayi noted that N9.42 billion was disbursed to 7,391 pensioners of the defunct Power Holding Company of Nigeria (PHCN).
This amount covers 65 months of arrears from the 13.8 per cent increment, spanning June 1, 2021, to October 31, 2026.
Additionally, the government paid N4.46 billion to 11,431 DBS pensioners from five defunct agencies.
The beneficiaries include eligible pensioners of the Peoples Bank of Nigeria, Assurance Bank, NICON Insurance, Nigerian Reinsurance Corporation, and NITEL/MTEL.
Ajayi stated this payment covers 22 months of arrears from the 20.55 per cent increment.
The arrears span January 1, 2025, to October 31, 2026.
He added that the National Salaries, Incomes and Wages Commission (NSIWC) approved both increments via a circular dated January 14, 2026.
Ajayi described the payments as evidence of the Federal Government’s commitment to senior citizens’ welfare.
He stated the intervention reflects the administration’s determination to address longstanding pension issues and ensure retirees receive their entitlements with dignity.
Ajayi also reiterated PTAD’s commitment to efficient pension administration, timely payments, and ongoing improvements in DBS pensioners’ welfare.
