The Pension Transitional Arrangement Directorate (PTAD) says it has paid N13.87 billion in pension increment arrears to 18,822 retirees under the Defined Benefit Scheme (DBS).
PTAD disclosed this in a statement issued by its Head of Corporate Communications, Mr Olugbenga Ajayi, on Sunday in Abuja.
Ajayi said the payments covered outstanding arrears arising from the 13.8 per cent and 20.55 per cent pension increments approved by President Bola Tinubu. 
He said N9.42 billion was paid to 7,391 pensioners of the defunct Power Holding Company of Nigeria (PHCN).
The amount covered 65 months of arrears from June 1, 2021, to Oct. 31, 2026, arising from the 13.8 per cent increment.
Similarly, N4.46 billion was disbursed to 11,431 pensioners from five defunct agencies.
The beneficiaries were eligible retirees of the Peoples Bank of Nigeria, Assurance Bank, NICON Insurance, Nigerian Reinsurance Corporation and NITEL/MTEL.
Ajayi said the payment covered 22 months of arrears arising from the 20.55 per cent increment, from Jan. 1, 2025, to Oct. 31, 2026.
He said both increments were approved by the National Salaries, Incomes and Wages Commission (NSIWC) through a circular dated Jan. 14, 2026.
According to him, PTAD described the payments as evidence of the Federal Government’s commitment to the welfare of senior citizens and efforts to address longstanding pension irregularities.
Ajayi reaffirmed the directorate’s commitment to efficient pension administration, timely payment of entitlements and improved welfare for DBS pensioners.
(NAN)
