The Tinubu Media Volunteers (TMV) has applauded the disbursement of N13.87 billion in pension increase arrears to 18,822 retirees, saying the payment will have a positive impact on the families of the beneficiaries.
In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, the group explained that the arrears were paid under the Defined Benefit Scheme (DBS) and cover the outstanding entitlements of pensioners through October 2026.
The group noted that the payment covers arrears arising from the 13.8 per cent and 20.55 per cent pension increases approved by President Bola Tinubu.
5It added that the payments also cover increases dating back to 2021, with different arrears periods applying to pensioners of the defunct Power Holding Company of Nigeria (PHCN) and five other defunct federal government agencies.
According to the statement, the increase was approved by the National Salaries, Incomes and Wages Commission and covers 22 months.
The group said the federal government is implementing the payment to address the persistent anomalies associated with pensions in the country and to improve the well-being of pensioners and their dependents.
“We acknowledge that under the Tinubu administration there is a commitment to efficient pension administration, timely payment of entitlements and continuous improvement in the welfare of the pensioners under the Defined Benefit Scheme,” the statement said.
The group further described the payment of the increased pension arrears as fresh evidence that the federal government is focused on restoring the living standard of retirees.
