The Pension Transitional Arrangement Directorate, PTAD, says it has paid 13.87 billion naira in pension increment arrears to 18,822 Defined Benefit Scheme pensioners.
The payment covers arrears arising from the 13.8 per cent and 20.55 per cent pension increases, approved for different categories of pensioners.
The Pension Transitional Arrangement Directorate, PTAD made this known through a statement made available to the media and signed by the head of corporate communication, Olugbenga Ajayi
According to PTAD, the largest payment of 9.42 billion naira went to 7,391 former PHCN pensioners.
The beneficiaries are being paid arrears covering 65 months, from June 2021 to October 2026, following the 13.8 per cent pension increment.
The statement added that another 4.46 billion naira was paid to 11,431 pensioners from five defunct agencies, covering 22 months of arrears, from January 2025 to October 2026.
The affected agencies are the People’s Bank of Nigeria, Assurance Bank, NICON Insurance, Nigerian Reinsurance Corporation, and NITEL/MTEL.
PTAD says the payments relate to pension increases approved by the National Salaries, Incomes and Wages Commission, NSIWC, in a circular issued on January 14, 2026.
In practical terms, the payments represent the difference between what eligible pensioners were paid and the higher pension rates applicable to them during the stated periods.
PTAD noted that the latest disbursement is part of efforts to settle outstanding obligations to pensioners under the Defined Benefit Scheme(DBS).
The DBS covers pension arrangements for public-sector workers whose pensions are administered under the transitional system, following the introduction of Nigeria’s contributory pension system.
PTAD says it remains committed to settling outstanding pension liabilities and ensuring the timely payment of pension entitlements.
For the affected pensioners, the latest disbursement means payment of accumulated differences arising from the approved pension increases, with the arrears covering periods of up to 65 months, depending on the category of beneficiary.
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Editor: Nkoli Omhoudu
