FG Clears Pension Arrears For 18,822 Pensioners

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, Head, Corporate Communications, Olugbenga Ajayi, said the payment covers two categories of increment arrears owed to pensioners of defunct public institutions.
A breakdown shows that N9.41 billion was paid to 7,391 pensioners of the defunct Power Holding Company of Nigeria (PHCN).
“The payment reflects the accrued arrears arising as a result of the 13.8 per cent and 20.55 per cent increments to PHCN pensioners and pensioners from some of the defunct agencies under ...