PTAD gets FG approval to implement new minimum wage pension benefits

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There is succour at last for Nigerian pensioners as the Pension Transitional Arrangement Directorate (PTAD) has announced the presidential approval for consequential adjustments for pension benefits in line with the new minimum wage.

The adjustments are expected to commence in May 2021, as disclosed by the Executive Secretary, PTAD, Dr Chioma Ejikeme at a Press Conference in Abuja.

She stated that “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.”

“With this approval, PTAD is now empowered to start the upward adjustment of all pensioners’ benefits according to the approved template.

“The consequential adjustment of the new pension payment will start from the May 2021 payroll. The arrears will take effect from April 2019. PTAD will also commence payment of the arrears from May 2021.”

The PTDA boss recalled that on the 22nd of April, 2021, she issued a Press Release to inform the general public of the sincerity of President Buhari 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. We will continue to strive to improve the quality of their lives. she said.

Ejikeme informed and cautioned senior citizens, that PTAD would not request for any gratification from ANYBODY before the money would be paid into their account.

“They should not give their account details to anybody. They should report any scammer or anyone requesting gratification before their benefits would be paid to PTAD.

“We have concluded arrangements to send SMS to all pensioners informing them of the payment and to caution them on the activities of pension scammers.

“We continue to appeal to pension Unions to continue to partner and cooperate with the Directorate in our bid to provide better services to our senior citizens. The labour of our heroes past shall not be in vain. she added.