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ptad completes payment of consequential adjustment arrears

The 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).

PTAD’s Head of Corporate Communications Mr. Gbenga Ajayi disclosed this in a statement made available to journalists in Abuja.

 

He said PTAD has completed the payment of arrears arising from the consequential adjustment to pensions to three out of the four operational departments in the directorate.

Recall that the payment followed 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.

The statement states PTAD commenced payment of the pension increment in May 2021, with an accrued arrears of 24 months.

The Civil Service Pensioners were paid nine months out of the 24 months’ arrears while the Parastatals, Police, Customs, Immigration, and Prisons Pensioners were paid 12 months’ arrears in May.

Mr. Ajayi said 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 Pension Department Pensioners and six months of the same arrears to Parastatals, Police, Customs, Immigration, and Prisons Department Pensioners bringing the arrears paid so far to a total of 18 out of the 24 months’ arrears of the Pension Increment.

In line 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.

The cleared departments are Parastatals Pension Department, Customs Immigration and Prisons Pension Department, and Police Pension Department;

 

 

while a balance of three months’ arrears is still being owed to the retirees under the Civil Service Pension Department.

Ajayi said that the Executive Secretary has promised to continue promoting the welfare of the senior citizens in accordance with the mandate of the Directorate.

 

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