The Federal Government has announced that N1.02 billion has been paid to 7, 091 pensioners from the Power and Transport Sectors of the Parastatals Pension Department.
Olugbenga Ajayi, Head, Corporate Communications Unit, Pension Transitional Arrangement Directorate, said this in a statement on Sunday.
The statement said, “The payment represents 39 percent of the accrued pension arrears owed pensioners in the said sectors for the period August 2015 to September 2023, as a result of the computation of the monthly pension of pensioners of PaPD based on their career details, salary structure, and applicable pension increments.
“The arrears were ascertained during the back-end computation exercise conducted by PTAD, where it was discovered that 7,091 pensioners in the power and transport sectors were being underpaid based on the payroll inherited by PTAD.”
According to Dr. Chioma Ejikeme, Executive Secretary of PTAD, the back-end computation effort was required to ensure that each pensioner earned their appropriate pension for fairness, equity, and justice, in accordance with the directorate’s mandate.
She told federal pensioners under the Defined Benefit Scheme that the Federal Government was devoted to their well-being and that the arrears would be paid until all accrued pension arrears were liquidated, subject to government funds.
