The Pension Transitional Arrangement Directorate (PTAD) has disbursed ₦13.87 billion in pension increment arrears to 18,822 pensioners under the Defined Benefit Scheme (DBS).
According to the agency, the payment covers arrears arising from the implementation of 13.8 per cent and 20.55 per cent pension increases approved for eligible pensioners.
PTAD said ₦9.42 billion was paid to 7,391 pensioners of the defunct Power Holding Company of Nigeria (PHCN). The payment represents 65 months of arrears generated by a 13.8 per cent pension increment covering the period from June 1, 2021, to October 31, 2026.
The directorate also paid ₦4.46 billion to 11,431 DBS pensioners as settlement of 22 months of arrears resulting from a 20.55 per cent pension increase. Beneficiaries of this category are pensioners from five defunct organisations: Peoples Bank of Nigeria, Assurance Bank, NICON Insurance, Nigerian Reinsurance Corporation, and NITEL/MTEL.
PTAD stated that both increments were approved by the National Salaries, Incomes and Wages Commission (NSIWC) in a circular dated January 14, 2026.
The agency said the payments underscore the Federal Government’s commitment to meeting pension obligations and improving the welfare of retired public servants under the Defined Benefit Scheme.
In a statement signed by PTAD’s Head of Corporate Communications, Olugbenga Ajayi, the directorate reiterated its commitment to efficient pension administration and the timely payment of pension entitlements.
