The Federal Government has paid N13.87bn in outstanding pension increment arrears to 18,822 retirees, including former workers of the defunct Power Holding Company of Nigeria (PHCN), with some payments covering more than five years.
The Pension Transitional Arrangement Directorate (PTAD) disclosed this in a statement on Sunday by its Head of Corporate Communications, Olugbenga Ajayi.
The disbursement followed the implementation of pension increases of 13.8 per cent and 20.55 per cent approved by the National Salaries, Incomes and Wages Commission.
A breakdown showed that N9.42bn was paid to 7,391 pensioners of the defunct PHCN as arrears arising from a 13.8 per cent pension increase.
The payments covered 65 months, from June 1, 2021, to October 31, 2026.
The PHCN beneficiaries received about 67.9 per cent of the total disbursement, despite accounting for 39.3 per cent of the retirees covered.
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PTAD also disbursed N4.46bn to 11,431 pensioners from five defunct government-linked organisations to settle 22 months of arrears arising from a 20.55 per cent pension increment.
The organisations are the Peoples Bank of Nigeria, Assurance Bank, NICON Insurance, Nigerian Reinsurance Corporation and NITEL/MTEL.
The arrears covered January 1, 2025, to October 31, 2026.
According to PTAD, both pension increases were approved by the National Salaries, Incomes and Wages Commission in a circular dated January 14, 2026.
The directorate described the payments as part of efforts to settle outstanding pension obligations and improve the welfare of retirees under the Defined Benefit Scheme.
It said the Federal Government remained committed to ensuring that eligible pensioners received their approved entitlements.
PTAD also pledged to improve pension administration, strengthen payment efficiency and prevent unnecessary delays in the disbursement of benefits.
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