Federal Government Unveils Revised Start Date for Introduction of Monthly Pension Scheme

The federal government has rescheduled the start date for the new monthly pension payment for pensioners in the parastatals under the Ministry of Power and Transportation. Mr. Gbenga Ajayi, Head of Corporate Communications at PTAD, revealed that the July date for the back-end computation project’s commencement has been moved to August 2023. This adjustment was made to address logistics challenges and ensure smooth implementation. The new monthly pension will now begin in the August payroll instead of the previously proposed July.