PTAD Settles N18.96 Billion Pension Arrears for PHCN Retirees

The Pension Transitional Arrangement Directorate (PTAD) has disbursed a total of N18.96 billion to settle outstanding Back-End Computation (BEC) arrears owed to 3,958 eligible pensioners of the former Power Holding Company of Nigeria (PHCN) under the Defined Benefit Pension Scheme (DBS). This final payment of N9.476 billion represents the remaining 50% balance after an initial disbursement of N9.482 billion in June 2026.

PTAD confirmed that the total amount disbursed is N18,958,199,952.27, marking the completion of the BEC arrears settlement for the affected pensioners. PTAD Executive Secretary Tolulope Odunaiya emphasized the agency's commitment to ensuring that all eligible pensioners receive their rightful benefits and acknowledged President Bola Ahmed Tinubu’s administration's focus on pensioners’ welfare.

PTAD also stated its ongoing efforts to resolve outstanding pension obligations, while PenCom has extended the deadline for online verification and enrollment of eligible federal workers to December 31, 2026.