PTAD pays N13.87bn pension increment arrears to 18,822 retirees

PTAD disclosed this in a statement issued by the Head of Corporate Communications, Olugbenga Ajayi, on Sunday in Abuja.

He said that the payment covers outstanding arrears arising from the 13.8 per cent and 20.55 per cent pension increments approved by President Bola Tinubu.

Ajayi said that N9.42 billion was disbursed to 7,391 pensioners of the defunct Power Holding Company of Nigeria (PHCN).

The amount represents 65 months of arrears arising from the 13.8 per cent increment, covering June 1, 2021, to Oct. 31, 2026.

Similarly, N4.46 billion was paid to 11,431 DBS pensioners from five defunct agencies.

The beneficiaries include eligible pensioners of the Peoples Bank of Nigeria, Assurance Bank, NICON Insurance, Nigerian Reinsurance Corporation, and NITEL/MTEL.

According to Ajayi, the payment represents 22 months of arrears arising from the 20.55 per cent increment.

The arrears cover Jan. 1, 2025, to Oct. 31, 2026.

He said that both increments were approved by the National Salaries, Incomes and Wages Commission (NSIWC) through a circular dated Jan. 14, 2026.

Ajayi said that the directorate described the payments as a demonstration of the Federal Government’s commitment to the welfare of senior citizens.

He said that the intervention reflected the administration’s determination to address longstanding pension anomalies and ensure retirees received their entitlements with dignity.

Ajayi also reiterated PTAD commitment to efficient pension administration, timely payment of entitlements and continuous improvement in the welfare of DBS pensioners.

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