The Pension Transitional Arrangement Directorate, has said that Federal Government has disbursed N1.023 billion to 7,091 pensioners within the power and transportation sectors.
The Executive Secretary, PTAD, Chioma Ejikeme, disclosed this in a statement on Saturday by the agency’s Head of Corporate Communications, Gbenga Ajayi.
Ajayi, in the statement, pointed out that the figure was arrived at after the computation of the monthly pension of pensioners of PaPD based on their career details, salary structure, and applicable pension increments.
The statement said the payment represented 39 per cent of the pension arrears accumulated by pensioners from August 2015 to September 2023 within the Parastatals Pensions Department.
It equally said that the arrears were determined through a PTAD-conducted back-end calculation.
The agency said the investigation unveiled a payroll issue in which 7,091 pensioners in the sector were receiving insufficient payments, underscoring the need for corrective action.
Ejikeme had noted that the back-end computation was mandatory to ensure that each pensioner earned an accurate pension for fairness, equity and justice.
