The Pension Transitional Arrangement Directorate (PTAD) has successfully disbursed N13.87 billion in outstanding pension increment arrears to 18,822 retirees enrolled under the Defined Benefit Scheme (DBS).
The beneficiaries include pensioners of the defunct Power Holding Company of Nigeria (PHCN) and five other government-linked organisations.
The payments followed the implementation of pension increases of 13.8 per cent and 20.55 per cent, with some retirees receiving arrears accumulated over five years.
This was disclosed in a statement issued yesterday by PTAD’s Head of Corporate Communications, Olugbenga Ajayi.
The statement said the payments covered pension adjustments approved by the National Salaries, Incomes and Wages Commission.
It stated that the directorate disbursed a total of N13,873,565,547.52 to the 18,822 pensioners.
A breakdown of the payments showed that N9.42bn was paid to 7,391 pensioners of the defunct PHCN as arrears from a 13.8 per cent pension increase.
The PHCN pensioners received about 67.9 per cent of the total amount disbursed, although they accounted for 39.3 per cent of the beneficiaries.
PTAD also paid N4.46bn to 11,431 pensioners from five defunct organisations to settle 22 months of arrears arising from a 20.55 per cent pension increase.
The affected organisations are Peoples Bank of Nigeria, Assurance Bank, NICON Insurance, Nigerian Reinsurance Corporation and NITEL/MTEL.
The statement said the two pension increases were approved by the National Salaries, Incomes and Wages Commission in a circular dated January 14, 2026.
PTAD said the payments were part of its efforts to clear outstanding pension obligations and improve the welfare of retirees who served in government establishments.
What You Should Know
The federal government, through the Pension Transitional Arrangement Directorate (PTAD), has released N13.87 billion to clear long-overdue pension increment arrears for thousands of retirees who previously served in various government-linked organizations.
- Positive Impact: This payment brings major financial relief to 18,822 retirees—including former workers of the defunct Power Holding Company of Nigeria and five other agencies—helping them settle accumulated debts and improve their daily living conditions.
- Potential Concerns: While this brings immediate relief to the beneficiaries, many other retirees across different sectors are still awaiting similar adjustments, highlighting the ongoing fiscal burden of clearing accumulated government pension liabilities.
