The Pension Transitional Arrangement Directorate (PTAD) has disbursed ₦1.023 billion to 7,091 pensioners from the power and transport Sectors within the Parastatals Pensions Department (PaPD).
Gbenga Ajayi, PTAD’s Head of Corporate Communications in PTAD, said this in Abuja on Saturday.
He said the payment covered 39% of the pension arrears accumulated by pensioners from August 2015 to September 2023.
The monthly pension amount for PaPD retirees was derived by computing their pension based on their career details, salary structure, as well as any applicable pension increases.
He also mentioned that the arrears were determined through a PTAD-conducted back-end calculation.
According to Ajayi, PTAD’s investigation revealed a payroll issue in which 7,091 pensioners in the sector were receiving insufficient payments, underscoring the need for corrective action.
He said that PTAD’s Executive Secretary, Dr Chioma Ejikeme, had noted that the back-end computation was mandatory to ensure that each pensioner earned an accurate pension for fairness, equity and justice.
