Federal Government Raises monthly Pension Payment to N7.78billion

    The Federal Government has increased its monthly allocation to pension payment by 24.68 per cent from N6.24bn to N7.78bn.

   This was disclosed in a report from the National Pension Commission stating that about 217,619 retired workers are on the Federal Government’s payroll as of June 2016.
   The report was said to be an update of the activities of the Pension Transitional Arrangement Directorate, PTAD.
    The PTAD, it stated, had a total number of 217,619 federal retirees on its payroll in March, when it was getting N6.24bn as monthly pension allocation.
   According to PenCom, some complaints were received by the commission from pensioners under the scheme.
   It stated that the complaints included stoppage of monthly pension; non-payment of pension benefits; and reduction in the federal monthly pensions. PenCom further stated that the complaints have being forwarded to the PTAD for prompt attention.