PTAD pays N18.96bn PHCN pension arrears

The Pension Transitional Arrangement Directorate has paid N18.96bn in outstanding pension arrears to 3,958 former PHCN workers under the Defined Benefit Pension Scheme.

PTAD said the latest disbursement of N9.476bn represents the final 50 per cent of the Back-End Computation arrears owed to the beneficiaries.

The payment follows an earlier N9.482bn disbursement made in June, bringing the total amount paid to N18,958,199,952.27.

In a statement on its X handle on Thursday, the directorate described the settlement as a major step towards clearing outstanding pension liabilities owed to eligible PHCN pensioners.

PTAD Executive Secretary, Tolulope Odunaiya, said the agency remained committed to ensuring that all eligible pensioners receive their outstanding entitlements.

She also said the Federal Government would continue initiatives aimed at improving the welfare and retirement security of pensioners.

“ The years of sacrifice and meritorious service rendered by Nigeria’s senior citizens will continue to be recognised and honoured,” Odunaiya said.

PTAD added that it would continue working to settle outstanding pension liabilities and ensure that beneficiaries receive the benefits due to them.