Home Business Pension PTAD Commences Payment Of Consequential Pension Increment
Pension

PTAD Commences Payment Of Consequential Pension Increment

Share
Share

PRESS RELEASE–The Pension Transitional Arrangement Directorate (PTAD) has commenced payment of consequential adjustment to pensioners under Defined Benefit Scheme (DBS).

A statement by the Head, Corporate Communications, PTAD, Olugbenga Ajayi, said this is in fulfilment of the Executive Secretary, PTAD, Dr. Chioma Ejikeme’s promise made when she announced President Muhammadu Buhari’s approval for the implementation of the consequential adjustment to the pension benefits occasioned by the new minimum wage increase of 2019. She promised that the upward adjustment of Pensioner’s benefit will take effect from May 2021.

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 PTAD for adequate investigations and possible prosecution.

Share

Businesstoday Magazine

Businesstoday Conference/Awards

Related Articles

PenCom, PenOp Engage Four Tech Solution Providers For Pension Remittances

BY NKECHI NAECHE–ESEZOBOR--The National Pension Commission, (PenCom) and the Pension Fund Operators...

PenCom DG Gives Scorecard Four Months In Office

BY NKECHI NAECHE- ESEZOBOR–The Director General of National Pension Commission, PenCom, Ms....

Pension Fund Assets To Hit N22 trillion By End Of 2024- PenCom

BY NKECHI NAECHE- ESEZOBOR–The National Pension Commission, PenCom, on Thursday said the...

PenCom Bans African Alliance Insurance From Underwriting Annuity Business

BY NKECHI NAECHE- ESEZOBOR–The National Pension Commission, PenCom, on Thursday said it...