TMV HAILS ₦13.87BN PENSION ARREARS PAYMENT TO 18,822 RETIREES, SAYS MOVE WILL EASE POVERTY By Raymond Enoch

The Tinubu Media Volunteers (TMV) has applauded the Federal Government’s disbursement of ₦13.87 billion in pension arrears to 18,822 retirees under the Defined Benefit Scheme (DBS), describing the intervention as another significant poverty-alleviating measure aimed at improving the welfare and living standards of senior citizens.

The group said the payment would provide much-needed financial relief to the beneficiaries and their families, particularly at a time when rising living costs have continued to place pressure on household incomes.

In a statement jointly signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, TMV said the disbursement covered outstanding pension entitlements up to October 2026, arising from approved pension increases of 13.8 per cent and 20.55 per cent.

The group noted that the increases, approved by President Bola Tinubu, covered arrears dating back to 2021, with varying periods applying to pensioners of the defunct Power Holding Company of Nigeria (PHCN) and five other defunct Federal Government agencies.

It also recalled that the pension adjustments were approved by the National Salaries, Incomes and Wages Commission and covered a 22-month period.

According to TMV, the intervention reflects the administration’s efforts to address longstanding anomalies in pension administration, ensure the payment of outstanding entitlements and strengthen the social and economic well-being of retirees and their dependants.

“We acknowledge that the payment of these pension arrears is being implemented by the Federal Government to address the perennial anomalies associated with pensions in the country and improve the well-being of pensioners and their dependants,” the statement said.

The group further commended what it described as the Tinubu administration’s commitment to more efficient pension administration, timely settlement of entitlements and sustained improvement in the welfare of retirees under the Defined Benefit Scheme.

TMV maintained that the disbursement was further evidence of the Federal Government’s commitment to restoring the purchasing power and living standards of retirees, stressing that the payment of outstanding pension increases would help cushion the economic challenges confronting many elderly Nigerians.

It added that sustained attention to pension obligations remained essential to protecting the dignity of retirees, many of whom depend on their monthly pensions to meet basic household needs.