PTAD Pays N13.87bn Pension Arrears to 18,822 Retirees

The Pension Transitional Arrangement Directorate (PTAD) has paid N13.87 billion in pension increment arrears to 18,822 Defined Benefit Scheme (DBS) pensioners.

The payment covers arrears from the 13.8 per cent and 20.55 per cent pension increments approved for eligible pensioners under the Federal Government’s pension transition arrangements.

PTAD disclosed this in a statement signed on Sunday by its Head of Corporate Communications, Olugbenga Ajayi.

According to the agency, it paid N9.42 billion to 7,391 pensioners of the defunct Power Holding Company of Nigeria (PHCN).

The payment covers 65 months of arrears from the 13.8 per cent increment, covering June 1, 2021, to October 31, 2026.

PTAD also disbursed N4.46 billion to 11,431 DBS pensioners affected by the 20.55 per cent increment.

The payment covers 22 months of arrears from January 1, 2025, to October 31, 2026.

The beneficiaries under the second payment include eligible pensioners from five defunct agencies.

They are the Peoples Bank of Nigeria, Assurance Bank, NICON Insurance, Nigerian Reinsurance Corporation and NITEL/MTEL.

The two pension increments received approval from the National Salaries, Incomes and Wages Commission (NSIWC) in a circular dated January 14, 2026.

PTAD said the latest disbursements demonstrate the Federal Government’s commitment to the welfare of retired workers who served the country.

The agency added that the payments form part of efforts under President Bola Tinubu’s Renewed Hope Agenda to address outstanding pension obligations.

It said the Federal Government remained committed to ensuring that DBS pensioners received their entitlements promptly and with dignity.

PTAD also commended President Tinubu for his attention to the welfare of DBS pensioners and efforts to address long-standing pension issues.

The agency said it would continue to improve pension administration and ensure timely payment of entitlements to DBS pensioners.