President Muhammadu Buhari has approved a new minimum wage for pensioners with effect from May, 2021.
The payment of the consequential adjustment under the Defined Benefit Scheme (DBS), in line with the minimum wage approved in 2019 was consented to, today, Friday, April 30th by the President.
The adjustment was announced to newsmen in Abuja by Dr Chioma Ejikeme, Executive Secretary, Pension Transitional Arrangement Directorate (PTAD).
The development implies that the PTAD has been empowered to start the upward adjustment of all pensioners’ benefits.
Ejikeme said that the adjustment of the new pension payment would start from May 2021 and that the payment of the arrears would cover the period of the implementation of the minimum wage.
She added that, “The arrears from April 2019 will be paid along with the pensioners’ monthly benefit starting from May 2021 payroll.
The Executive Secretary further disclosed that on April 22, a statement was released to inform the public of the President’s sincerity to implement the consequential adjustment on the pension benefit through PTAD.
According to her, “I emphasise that the Nigeria Union of Pensioners (NUP) has no reason to go on protest because the matter has been finalised.
“True to the statement, we are here today to confirm that that the consequential adjustment will be implemented from May 2021 payroll.
“As a responsible agency of government saddled with the responsibility of overseeing the payment of pension benefits to pensioners under the DBS and their welfare, we are encouraged to do more for our pensioners.
“And we will continue to strive to improve the quality of lives.
She added that PTAD reassured the senior citizens that nobody will request any gratification before they get their pay and advised them never to disclose their account to anyone including security agents.
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