ABUJA,  The Pension Transitional Arrangement Directorate (PTAD) has paid N13.87 billion in pension increment arrears to 18,822 Defined Benefit Scheme (DBS) pensioners.

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‎The payment covers accrued arrears from 13.8 percent and 20.55 percent pension increments approved for retirees of the defunct Power Holding Company of Nigeria (PHCN) and other defunct agencies, PTAD said in a statement on Saturday.

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‎According to the directorate, N9.42 billion was disbursed to 7,391 PHCN pensioners, representing 65 months of arrears from the 13.8 percent increment covering June 1, 2021 to Oct. 31, 2026.

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‎It said N4.46 billion was also disbursed to 11,431 DBS pensioners of five defunct agencies – Peoples Bank of Nigeria, Assurance Bank, NICON Insurance, Nigerian Reinsurance Corporation and NITEL/MTEL – representing 22 months of arrears from the 20.55 percent increment covering Jan. 1, 2025 to Oct. 31, 2026.

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

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‎The directorate said the payment underscores the Federal Government’s commitment to the welfare of pensioners under the Renewed Hope Agenda of President Bola Ahmed Tinubu.

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‎PTAD reaffirmed its commitment to efficient pension administration and timely payment of entitlements.