Pension

FG sets May 2021 for implementation of consequential pension benefits adjustment

Dr. Chioma Ejikeme

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Chuks Udo Okonta

The Presidential approval for the implementation of the consequential adjustment to the pension benefits occasioned by the new minimum wage of 2019 has been granted and the circular released, the Executive Secretary, Pension Transitional Arrangement Directorate (PTAD), Dr. Chioma Ejikeme, has said.

She disclosed this today at a press conference in Abuja, adding that with the approval, PTAD is now empowered to start the upward adjustment of all pensioners’ benefits according to the approved template.

She noted that the consequential adjustment of the new pension payment will start from May 2021 payroll, stressing that the arrears will take effect from April 2019.

According to her, PTAD will also commence payment of the arrears from May 2021. “It will be recalled that on the 22nd of April, 2021, I issued a Press Release to inform the general public of the sincerity of Mr. President to implement the consequential adjustment on the pension benefits.

“I made it emphatically clear that the Nigeria Union of Pensioners (NUP) has no reason to go on any protest because the matter was at the conclusive stage.

“As a responsible Agency of government saddled with the mandate of overseeing the payment of pension benefits to pensioners under the Defined Benefit Scheme and taking care of their welfare, we are encouraged to do more for our pensioners,” she submitted.

She maintained that PTAD will continue to strive to improve the quality of retirees’ lives. “Let me at this point inform and caution our senior citizens once again, that PTAD will not request for any gratification from anybody before the money will be paid into their account. They should not give their account details to anybody,” she said.

She implored retirees to report any scammer or anyone requesting for gratification before their benefits would be paid to PTAD. “I REPEAT, DO NOT GIVE MONEY TO ANYBODY,” she said.

She said PTAD has concluded arrangements to send SMS to all pensioners informing them of the payment and to caution them on the activities of pension scammers, adding that PTAD would continue to appeal to pension Unions to continue to partner and cooperate with it in its bid to provide better services to Senior Citizens, stressing that the labour of our heroes past shall not be in vain.

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