By Modupe Gbadeyanka
President Muhammadu Buhari has approved the increment in the pensioners’ pay from next month, the Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), Ms Chioma Ejikeme, confirmed during a press briefing on Friday.
She explained the approval for the consequential adjustment to pension benefits was given by the presidency in line with the implementation of the new minimum wage.
Business Post recalls that on April 18, 2019, Mr Buhari signed the new national minimum wage into law and this increased the lowest pay for workers in the country from N18,000 to N30,000.
The development caused pensioners to ask for an increment in their pay and today, Ms Ejikeme confirmed that this prayer has been answered.
“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,” she informed newsmen.
However, the PTAD scribe stressed that the agency “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.
“I repeat, do not give money to anybody. 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,” she further emphasised.
Ms Ejikeme assured that PTAD “will continue to strive to improve the quality of their lives,” appealing to “pension unions to continue to partner and cooperate with the directorate in our bid to provide better services to our senior citizens,” adding that, “The labour of our heroes past shall not be in vain.”
She stated that, “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.”
The blockchain brings new financing options to the business market. For example, Bitcoin Cash casino has adapted to only using cryptocurrency. This way, it makes it easier for their customers to deposit and withdraw in a BCH casino. Entrepreneurs have taken note of this and are looking to invest more in crypto than in fiat markets.
Like Our Facebook Page
Latest News on Business Post
- FG Launches System to Register Phones to Tackle Theft May 13, 2021
- Premier League Agrees £5bn TV Broadcast Deal Extension May 13, 2021
- Firm Unveils Insurance Cover for Tricycle Riders May 13, 2021
- Insecurity: Buhari Begs Nigerians for More Understanding May 13, 2021
- HP Extends Digital Partner Programme to Global Retailers May 13, 2021
- DMO, Investors Prepare for N150bn Bond Sale May 19 May 13, 2021
- Eid al-Fitr: Akande-Sadipe Tasks Muslims on Peace, Love May 13, 2021
- Companies Pay N392.8bn Income Tax to Government in Q1 2021 May 13, 2021
- Bitcoin Slides as Elon Musk’s Tesla Suspends Acceptance for Purchase May 13, 2021
- Brent Hits $69 Amidst Positive Economic, Demand Forecasts May 13, 2021
Economy5 years ago
Kwara Disburses N1.7b For Projects
Technology5 months ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN
Feature/OPED1 year ago
Davos was Different this year
Economy3 years ago
FAAC: FG, States, LGs Share N655.18b in January
Economy2 months ago
MBA Forex Blames CBN for Inability to Return Investors’ Funds
Banking3 years ago
Sort Codes of GTBank Branches in Nigeria
General2 years ago
Ikeja Electric Explains How to Get Prepaid Metres via MAP
Feature/OPED2 months ago
COVID and the Growth of Technology in Nigeria