The Nigeria Union of Pensioners (NUP) has commended President Bola Ahmed Tinubu for approving the payment of ₦39.6 billion in pension arrears owed to retirees under the Defined Benefit Scheme.

The union described the payment as a major relief for pensioners and a demonstration of the Federal Government’s commitment to improving the welfare of retired public servants.

NUP officials said the intervention has renewed confidence among pensioners and reflects the administration’s determination to address longstanding pension liabilities affecting thousands of retirees.

The payment covers inherited pension obligations owed to retirees of defunct organisations, including NITEL, MTEL, PHCN, Assurance Bank, NICON and the People’s Bank of Nigeria.

The funds are expected to settle outstanding pension liabilities, back-end computation arrears and pension increment arrears due to eligible beneficiaries across the country.

The Federal Government said the disbursement forms part of ongoing efforts to clear inherited pension debts, improve the welfare of retirees and ensure greater financial security for pensioners.