President Muhammadu Buhari has approved the payment of the consequential adjustment to pensioners under the Defined Benefit Scheme (DBS) in line with the minimum wage approved in 2019.
The Executive Secretary, Pension Transitional Arrangement Directorate (PTAD), Dr Chioma Ejikeme, disclosed this at a news conference yesterday, in Abuja.
She said that with the presidential approval, PTAD had been empowered to start the upward adjustment of all 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 the pensioners monthly benefit starting from May 2021 payroll, she stated.
She said that on April 22, a statement was released to inform the public of the Presidents sincerity to implement the consequential adjustment on the pension benefits through PTAD.
Ejikeme also said that PTAD would not request the senior citizens to pay any gratification to anybody before they receive their money.
The Executive Secretary advised them not to give their account details to anybody, and to report any scammer to any of the security agencies or PTAD.
