Pensioners Jubilate as New Payment Reflects Consequential Increment

By Aduragbemi Omiyale

There is jubilation among pensioners in Nigeria as their latest payment has reflected the consequential increment promised by the Pension Transitional Arrangement Directorate (PTAD).

The PTAD commenced the payment of the consequential adjustment to the pensioners under the Defined Benefit Scheme (DBS).

This is in fulfilment of the promise made by the Executive Secretary of the agency, Ms Chioma Ejikeme, recently when she announced President Muhammadu Buhari’s approval for the implementation of the consequential adjustment with effect from May 2021.

The monthly pay of the pensioners was increased after the federal government raised the minimum wage of workers in the country in 2019.

Consequently, Pensioners in the four operational departments of the Directorate namely: Civil Service Pension Department (CSPD), Parastatals Pension Department (PaPD), Police Pension Department (PPD), and Customs, Immigration and Prisons Pension Department (CIPPD), have begun to receive their accrued arrears.

While reacting to the messages of gratitude received from some pensioners, the Executive Secretary assured them of PTAD’s commitment to the welfare of the DBS Pensioners.

She cautioned them to beware of pension fraudsters who call pensioners pretending to be staff of PTAD, reminding them that no staff of the Directorate will request for gratification before processing their pension payment.

The PTAD boss further urged the pensioners to report such phone calls and other activities of the scammers to the agency for adequate investigations and possible prosecution.