PTAD Disburses N13.87 Billion to Pensioners in Arrears

The Pension Transitional Arrangement Directorate (PTAD) has disbursed N13.87 billion to 18,822 pensioners under the Defined Benefit Scheme (DBS) as arrears from approved pension increments. In a statement issued in Abuja, Olugbenga Ajayi, Head of Corporate Communications, stated that the payment addresses two categories of increment arrears owed to pensioners of defunct public institutions.

A breakdown reveals that N9.41 billion was allocated to 7,391 pensioners of the defunct Power Holding Company of Nigeria (PHCN), covering 65 months of arrears from a 13.8 percent increment effective from June 1, 2021, to October 31, 2026. Additionally, N4.45 billion was paid to 11,431 pensioners from five other defunct agencies for 22 months of arrears from a 20.55 percent increment.

The beneficiary agencies include Peoples Bank of Nigeria, Assurance Bank, NICON Insurance, Nigerian Reinsurance Corporation, and NITEL/MTEL. Both increments were approved by the National Salaries, Incomes and Wages Commission in a circular dated January 14, 2026.

PTAD remains committed to efficient pension administration and improving pensioners' welfare.