The Pensions Transitional Arrangement Directorate (PTAD) has said it will commence the implementation of the back-end computation project for parastatal pensioners of the power and transport sector agencies in August.
Head, Corporation Communications, PTAD, Olugbenga Ajayi, made this known in a statement, which read, “Further to the successful hosting of the focus group stakeholders’ meeting held on June 22 with pensioners’ representatives and other critical stakeholders of power and transport sector to share the outcome of the back-end computation for pensioners in the sector, the directorate has announced that the implementation of the new monthly pension derived therefrom will commence in the August 2023 payroll as against July as earlier proposed.
“The change in the implementation date has become necessary in order to resolve all the logistics challenges that have impacted the production and dispatch of the letters to all the affected pensioners.
“Recall that in June 2023, PTAD held a focus stakeholders meeting with pension union executives and pension desk officers of the power and transport sector. Also in attendance were representatives from the National Pension Commission (PenCom), National Human Rights Commission (NHRC) and SERVICOM.
“At the said meeting, the Director of the Parastatals Pension Department (PaPD), Mr Kabiru Yusuf, explained that PTAD had initiated a back-end computation project to validate the detailed records of pensioners captured during the 2019 nationwide field verification exercise and re-compute the monthly pension of the pensioners based on their career records, relevant salary structures and applicable pension increments.
“He further clarified that it was the computed monthly pension derived from this project that would be implemented in the pension payroll to replace the inherited monthly pension that was received at the time PTAD took over pension payments, thereby addressing instances of overpayment and complaints of underpayment.”
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