PTAD disburses N13.87 billion pension increment arrears to 18,822 retirees
AI Executive Briefing
Verified Synthesis~32s readThe Pension Transitional Arrangement Directorate (PTAD) has paid N13.87 billion in pension increment arrears to 18,822 pensioners under the Defined Benefit Scheme (DBS), covering outstanding entitlements through October 2026. Breakdown of the pension arrears According to Ajayi, the N9.42 billion paid to former PHCN pensioners represents 65 months of arrears arising from the 13.8% pension increment, covering June 1, 2021, to October 31, 2026.
Context & Background
- ✦The payments to these five groups represent 22 months of arrears arising from the 20.55% pension increment, covering January 1, 2025, to October 31, 2026.
Key Figures & Named Entities
2026:The Pension Transitional Arrangement Directorate (PTAD) has paid N13.87 billion in pension increment arrears to 18,822 pensioners under the Defined Benefit Scheme (DBS), covering outstanding entitlements through October 2026.Sunday:According to a statement issued by PTAD’s Head of Corporate Communications, Olugbenga Ajayi, on Sunday in Abuja, the payments cover arrears arising from the 13.8% and 20.55% pension increments approved by President Bola Tinubu.2021:The payments cover outstanding pension increases dating back to June 2021, with different arrears periods applying to pensioners of the defunct Power Holding Company of Nigeria (PHCN) and five other defunct agencies.
Outlook & Next Steps
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Key Takeaways
Verified Extract- The Pension Transitional Arrangement Directorate (PTAD) has paid N13.87 billion in pension increment arrears to 18,822 pensioners under the Defined Benefit Scheme (DBS), covering outstanding entitlements through October 2026.
- Breakdown of the pension arrears According to Ajayi, the N9.42 billion paid to former PHCN pensioners represents 65 months of arrears arising from the 13.8% pension increment, covering June 1, 2021, to October 31, 2026.
- The payments to these five groups represent 22 months of arrears arising from the 20.55% pension increment, covering January 1, 2025, to October 31, 2026.
Key Facts:2026: The Pension Transitional Arrangement Directorate (PTAD) has paid N13.87 billion in pension increment arrears to 18,822 pensioners under the Defined Benefit Scheme (DBS), covering outstanding entitlements through October 2026.Sunday: According to a statement issued by PTAD’s Head of Corporate Communications, Olugbenga Ajayi, on Sunday in Abuja, the payments cover arrears arising from the 13.8% and 20.55% pension increments approved by President Bola Tinubu.2021: The payments cover outstanding pension increases dating back to June 2021, with different arrears periods applying to pensioners of the defunct Power Holding Company of Nigeria (PHCN) and five other defunct agencies.2021: Breakdown of the pension arrears According to Ajayi, the N9.42 billion paid to former PHCN pensioners represents 65 months of arrears arising from the 13.8% pension increment, covering June 1, 2021, to October 31, 2026.
Editorial Excerpt
The Pension Transitional Arrangement Directorate (PTAD) has paid N13.87 billion in pension increment arrears to 18,822 pensioners under the Defined Benefit Scheme (DBS), covering outstanding entitlements through October 2026.
Frequently Asked Questions About This Story
What is the latest development regarding Federal Capital Territory?
The Pension Transitional Arrangement Directorate (PTAD) has paid N13.87 billion in pension increment arrears to 18,822 pensioners under the Defined Benefit Scheme (DBS), covering outstanding entitlements through October 2026.
Who are the key organizations or public figures mentioned?
The primary parties identified in this coverage include Federal Capital Territory, Nigeria Customs Service, Nigeria Police Force.
What timeline or key figures were confirmed?
The Pension Transitional Arrangement Directorate (PTAD) has paid N13.87 billion in pension increment arrears to 18,822 pensioners under the Defined Benefit Scheme (DBS), covering outstanding entitlements through October 2026.
