FG Clears Pension Arrears For 18,822 Pensioners

The Pension Transitional Arrangement Directorate (PTAD) has disbursed N13.87 billion to 18,822 pensioners under the Defined Benefit Scheme (DBS) as arrears from approved pension increments.

In a statement issued in Abuja, Head, Corporate Communications, Olugbenga Ajayi, said the payment covers two categories of increment arrears owed to pensioners of defunct public institutions.

A breakdown shows that N9.41 billion was paid to 7,391 pensioners of the defunct Power Holding Company of Nigeria (PHCN).

“The payment reflects the accrued arrears arising as a result of the 13.8 per cent and 20.55 per cent increments to PHCN pensioners and pensioners from some of the defunct agencies under PTAD,” Ajayi said.

He said the N9.41 billion represents 65 months of arrears arising from the 13.8 per cent increment covering June 1, 2021 to October 31, 2026.

According to him, N4.45 billion was paid to 11,431 pensioners from five other defunct agencies for 22 months of arrears from the 20.55 per cent increment.

He listed the beneficiary agencies as Peoples Bank of Nigeria, Assurance Bank, NICON Insurance, Nigerian Reinsurance Corporation and NITEL/MTEL.

“Both increments were duly approved by the National Salaries, Incomes and Wages Commission (NSIWC) in a circular dated 14th January, 2026,” he said.

The Directorate said it remains committed to ensuring efficient pension administration and continuous improvement of pensioners’ welfare.

It added that efforts are ongoing to ensure timely payment of entitlements to all eligible pensioners under its management.