Pension Transitional Arrangement Directorate (PTAD) has completed the payment of arrears of the consequential adjustment to pensioners under the three operational departments of the Defined Benefit Scheme (DBS).
Head of Corporate Communications,
Mr. Gbenga Ajayi, disclosed this in a statement to newsmen on Monday, in Abuja.
Ajayi said it will be recalled that the payment follows the Presidential approval for a consequential adjustment to a pension of retirees under the DBS as a result of the increase in the minimum wage in 2019.
According to him, PTAD commenced payment of the pension increment in May 2021, with an accrued arrears of 24 months.
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He noted that the Civil Service Pensioners were paid nine months out of the 24 months’ arrears while the Parastatals, Police, Customs, Immigration, and Prisons Pensioners also received 12 months’ arrears in May.
Mr. Ajayi Gbenga acknowledged that in July 2021, PTAD paid an additional nine months of the consequential adjustment arrears occasioned by the minimum wage increase of 2019 to Civil Service.
The Head said, with the promise made by the Executive Secretary of PTAD, Dr. Chioma Ejikeme, more of the accrued arrears have been paid, leading to complete payment in three operational departments, with a promise to pay the remaining arrears before the end of the first quarter of 2022.