The Federal Government says it has finalised payment of N1.02bn to 7, 091 pensioners of the Power and Transport Sectors of the Parastatals Pension Department.
The Head, of the Corporate Communications Unit, Pension Transitional Arrangement Directorate, Olugbenga Ajayi, says the payment represents 39 per cent of the accrued pension arrears owed pensioners in the said sectors for the period August 2015 to September 2023.
He says this is a result of the computation of the monthly pension of pensioners of PaPD based on their career details, salary structure and applicable pension increments.