The Pension Transitional Arrangement Directorate (PTAD) has disbursed ₦13.87 billion in pension increment arrears to 18,822 Defined Benefit Scheme pensioners.
The payment covers arrears arising from the 13.8% and 20.55% pension increases approved by the National Salaries, Incomes and Wages Commission (NSIWC).
A total of ₦9.42 billion was paid to 7,391 former Power Holding Company of Nigeria (PHCN) pensioners, covering 65 months of arrears from June 2021 to October 2026.
Another ₦4.46 billion was disbursed to 11,431 pensioners from five defunct agencies: Peoples Bank of Nigeria, Assurance Bank, NICON Insurance, Nigerian Reinsurance Corporation, and NITEL/MTEL.
The payment covers 22 months of arrears from January 2025 to October 2026.
PTAD said the disbursement demonstrates the Federal Government’s commitment to improving the welfare of senior citizens and resolving long- standing pension obligations under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
The agency reaffirmed its commitment to ensuring timely payment of pension entitlements and improving pension administration for DBS pensioners.