PTAD sheds light on Payment of adjusted pension

Pension Transitional Arrangement Directorate (PTAD) has today in Abuja shed light on it’s preparation for the payment of the adjusted pension to pensioners.

According to PTAD, “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.”

PTAD’s Executive Secretary, Dr (Mrs) Chioma Ejikeme, while addressing a Press Conference on the “Consequential Adjustment to Pension Benefits Arising From the Implementation of the New Minimum Wage” in Abuja today, said “PTAD is now empowered to start the upward adjustment of all pensioners’ benefits according to the approved template.

She drew public attention to her recent press release where she informed the public on the President’s sincerity to ensure payment of pensions.

“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. We will continue to strive to improve the quality of their 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. They should report any scammer or anyone requesting for gratification before their benefits would be paid to PTAD.”

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

The Directorate said they will continue to appeal to pension Unions to continue to partner and cooperate with them to provide better services to the Senior Citizens so that “The labour of our heroes past shall not be in vain.”