The Pension Transitional Arrangement Directorate (PTAD) has disbursed N9.47 billion to 3,958 former Power Holding Company of Nigeria (PHCN) workers under the Defined Benefit Scheme (DBS), as part of efforts to clear outstanding pension arrears owed to the retirees.
Olugbenga Ajayi, PTAD’s Head of Corporate Communications, announced the payment in a statement on Thursday in Abuja, saying the latest disbursement represented the outstanding 50 per cent balance of arrears arising from the Back-End Computation (BEC). The payment brings the total amount paid to the affected PHCN pensioners to N18.96 billion.
Ajayi said PTAD had earlier disbursed N9.48 billion to the same group of pensioners in June as the first 50 per cent tranche of the arrears.
He said the latest payment marked a significant milestone in efforts to resolve outstanding pension liabilities owed to PHCN pensioners.
The PTAD spokesperson quoted the agency’s Executive Secretary, Tolulope Odunaiya, as reiterating PTAD’s commitment to ensuring that eligible pensioners under the Defined Benefit Scheme receive their legitimate entitlements.
Odunaiya said the Federal Government remained committed to protecting the welfare, dignity and well-being of pensioners.
She added that PTAD would continue to address outstanding pension liabilities to ensure retirees receive the benefits due to them.
The Executive Secretary said the sacrifices and meritorious services of Nigeria’s senior citizens would continue to be recognised and honoured.
She further said the administration of President Bola Tinubu remained committed to initiatives aimed at promoting a more dignified and secure retirement.
