PTAD Pays N13.87bn Pension Arrears to 18,822 Retirees
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PTAD Pays N13.87bn Pension Arrears to 18,822 Retirees
By Alabidun Shuaib AbdulRahman
The Pension Transitional Arrangement Directorate, PTAD has paid N13.87bn in pension increment arrears to 18,822 pensioners under the Defined Benefit Scheme (DBS).
The payment covers outstanding arrears arising from the 13.8 per cent and 20.55 per cent pension increments approved for former employees of the defunct Power Holding Company of Nigeria and five other government agencies.
In a statement issued on Sunday by its Head of Corporate Communications, Olugbenga Ajayi, PTAD said N9.42bn was paid to 7,391 pensioners of the defunct PHCN as 65 months’ arrears of the 13.8 per cent increment.
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The arrears cover the period between June 1, 2021, and October 31, 2026.
The directorate also disbursed N4.46bn to 11,431 DBS pensioners as 22 months’ arrears of the 20.55 per cent increment, covering January 1, 2025, to October 31, 2026.
The beneficiaries are eligible pensioners of the People’s Bank of Nigeria, Assurance Bank, NICON Insurance, Nigerian Reinsurance Corporation and NITEL/MTEL.
According to PTAD, both increments were approved by the National Salaries, Incomes and Wages Commission in a circular dated January 14, 2026.
The directorate described the payments as part of the Federal Government’s commitment to improving the welfare of retired public servants and ensuring that pensioners receive their entitlements with dignity.
It also commended President Bola Tinubu for his administration’s attention to pensioners’ welfare, adding that it remained committed to efficient pension administration and timely payment of retirement benefits.
