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PTAD has Commenced Payment of the Consequential Pension Increment for Retirees under the Old Pension Scheme

In a press release made available on its website and dated 26th May 2021, the Pension Transitional Arrangement Directorate (PTAD) disclosed that it has commenced the payment of the consequential pension increment for retirees under the Defined Benefits (DB) Scheme.

Read the full Press Release below:

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

This is in fulfillment 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.

In another release by the PTAD Executive Secretary, Dr. Chioma Ejikeme, the table for the consequential adjustment in the pension for DBS retirees detailing the calculation of the increment was disclosed through her Twitter handle.

To know how much increment a retiree will be receiving, check this schedule.

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