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By Stella Odueme
The Tinubu Media Volunteers (TMV) has commended the Federal Government for disbursing N13.87 billion in pension increase arrears to 18,822 retirees, describing the move as another poverty-alleviation measure by the President Bola Tinubu administration.
The group said the payment would provide financial relief to the beneficiaries and their families while improving their standard of living.
In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, TMV said the disbursement covered outstanding entitlements of retirees under the Defined Benefit Scheme (DBS) up to October 2026.
It explained that the arrears arose from the 13.8 per cent and 20.55 per cent pension increases approved by President Tinubu, with some payments dating back to 2021.
According to the group, the affected beneficiaries include pensioners of the defunct Power Holding Company of Nigeria (PHCN) and five other defunct federal government agencies, with different arrears periods applying to the various categories.
TMV noted that the pension increases were approved by the National Salaries, Incomes and Wages Commission and covered 22 months.
It said the payment was part of the Federal Government's efforts to address longstanding challenges in pension administration and improve the welfare of retirees and their dependants.
The group also acknowledged what it described as the Tinubu administration's commitment to efficient pension administration, prompt payment of entitlements and sustained improvement in the welfare of pensioners under the Defined Benefit Scheme.
TMV maintained that the disbursement was further evidence of the Federal Government's determination to restore the living standards of retirees and cushion the economic challenges confronting them.