PTAD pays N13.87bn pension arrears to 18,822 retirees

The Pension Transitional Arrangement Directorate (PTAD) has paid N13.87bn in pension increment arrears to 18,822 retirees under the Defined Benefit Scheme, covering beneficiaries of the defunct Power Holding Company of Nigeria and five other government-linked organisations. The payments, which followed the implementation of pension increases of 13.8 per cent and 20.55 per cent, were made to settle arrears accumulated over more than five years.

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