Federal pensioners to enjoy pay raise
Federal pensioners under the Defined Benefit Scheme (DBS) have a cause to smile as the Pension Transitional Arrangement Directorate ( PTAD) has paid an additional nine months of consequential adjustment arrears, occasioned by the new 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. This brings the arrears paid so far to 18 out of the 24 months arrears of the pension increment.
PTAD Executive Secretary, Dr. Chioma Ejikeme, made the disclosure in her response to the commendations from pensioners on the payment of the arrears.
In May 2021, the Directorate implemented the consequential adjustment on pensions as a result of the minimum wage increment of 2019 and commenced payment of arrears to the pensioners of the four operational departments as directed by President Muhammadu Buhari. The civil service pensioners were paid nine months of the arrears while parastatals, Police and Customs, Immigration and Prisons Pensioners were paid 12 monhs arrears in May. With this payment, each of the pensioners in the four operational departments would have a balance of six months arrears left to be paid.
SOURCE: THE SUN