President Muhammadu Buhari has approved the payment of the consequential adjustment to pensioners under Defined Benefit Scheme (DBS) in line with the minimum wage approved in 2019.
This was made known at a news conference on Friday, in Abuja by the Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), Dr Chioma Ejikeme .
She said that the presidential approval, PTAD has been empowered to start the upward adjustment of Abuja, April 30, 2021 President Muhammadu Buhari has approved the payment of the consequential adjustment to pensioners under Defined Benefit Scheme (DBS) in line with the minimum wage approved in 2019.
The Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), Dr Chioma Ejikeme made the disclosure in Abuja at a news conference on Friday in Abuja.
Ejikeme said that the presidential approval, PTAD has been empowered to start the upward adjustment of all pensioners’ benefits according to the approved template.
According to her, the adjustment of the new pension payment would start from May 2021, adding that the payment of the arrears would cover the period of the implementation of the minimum wage.
” The arrears from April 2019, will be paid along with their monthly benefit starting from May payroll this year.”
She said that on April 22, a press statement was released to inform the public on the sincerity of the President to implement the consequential adjustment on the pension benefits through PTAD.
“ I made it emphatical that the Nigeria Union of Pensioners (NUP) has no reason to go on protest because the matter has been finalized, to that statement we are here today to confirm that the consequential adjustment will be implemented from May 2021 payroll.
” As a responsible agency of government saddled with the responsibility of overseeing the payment of pension benefits to pensioners under the DBS and their welfare, we are encouraged to do more for our pensioners and we will continue to strive to improve the quality of their lives,” she said.
Ejikeme also said that PTAD would not request the senior citizens to pay any gratification to anybody before they receive their money.
She advised them not to give their account details to anybody, as well report any scammer to any of the security agencies or PTAD.
” We have concluded arrangements to send SMS to all pensioners informing them of the payment and to caution them on the activities of the pension scammers.
” The time has come for DBS pensioners to continue to eat the fruits of their labour.
“We appeal to pension unions to always cooperate with the directorate in order to further facilitate better welfare opportunities for our pensioners”, Ejikeme said. (
pensioners’ benefits according to the approved template.
Ejikeme said that the adjustment of the new pension payment would start from May 2021, adding that the payment of the arrears would cover the period of the implementation of the minimum wage.
” The arrears from April 2019, will be paid along with their monthly benefit starting from May payroll this year.”
She said that on April 22, a press statement was released to inform the public on the sincerity of the President to implement the consequential adjustment on the pension benefits through PTAD.
“ I made it emphatical that the Nigeria Union of Pensioners (NUP) has no reason to go on protest because the matter has been finalized, to that statement we are here today to confirm that the consequential adjustment will be implemented from May 2021 payroll.
” As a responsible agency of government saddled with the responsibility of overseeing the payment of pension benefits to pensioners under the DBS and their welfare, we are encouraged to do more for our pensioners and we will continue to strive to improve the quality of their lives,” she said
The Executive Secretary advised them not to give their account details to anybody, as well report any scammer to any of the security agencies or PTAD.
” We have concluded arrangements to send SMS to all pensioners informing them of the payment and to caution them on the activities of the pension scammers adding that.the time has come for DBS pensioners to continue to eat the fruits of their labour
