FG pays N13.87bn pension arrears to 18,822 retirees.
The beneficiaries include pensioners of the defunct Power Holding Company of Nigeria (PHCN) and five other government-linked organisations.
The payments followed the implementation of pension increases of 13.8 per cent and 20.55 […] The Pension Transitional Arrangement Directorate (PTAD) has paid N13.87bn in outstanding pension increment arrears to 18,822 retirees under the Defined Benefit Scheme (DBS).
This was disclosed in a statement issued yesterday by PTAD’s Head of Corporate Communications, Olugbenga Ajayi.
The statement said the payments covered pension adjustments approved by the National Salaries, Incomes and Wages Commission. It stated that the directorate disbursed a total of N13,873,565,547.52 to the 18,822 pensioners. A breakdown of the payments showed that N9.42bn was paid to 7,391 pensioners of the defunct PHCN as arrears from a 13.8 per cent pension increase. The payments covered 65 months, from June 1, 2021, to October 31, 2026.
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