TMV Hails N13.87bn Pension Arrears Payment to 18,822 Retirees

The Tinubu Media Volunteers (TMV) has praised the Federal Government for paying N13.87 billion in pension arrears to 18,822 retirees.

The group described the payment as another measure aimed at reducing hardship among pensioners and their families.

In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, TMV said the disbursement would improve the welfare of the beneficiaries.

It said the payment covers outstanding entitlements under the Defined Benefit Scheme (DBS) up to October 2026.

The group explained that the arrears arose from pension increases of 13.8 per cent and 20.55 per cent. President Bola Tinubu approved the increases, which cover a 22-month period.

According to TMV, the adjustments also include outstanding payments dating back to 2021. Different arrears periods apply to retirees of the defunct Power Holding Company of Nigeria (PHCN) and five other former federal agencies.

The group noted that the National Salaries, Incomes and Wages Commission approved the pension adjustments.

It said the Federal Government introduced the payments to address longstanding problems in pension administration. The measure would also improve the living conditions of retirees and their dependants.

TMV commended the Tinubu administration for its stated commitment to efficient pension management and timely payment of entitlements.

It added that the N13.87 billion disbursement showed the government’s determination to improve retirees’ living standards and protect their welfare.