Pensioners in the country will have increased earnings as an adjustment of the new pension payment is expected to commence from the May 2021 payroll while the arrears will be effective from April 2019.
The Pension Transitional Arrangement Directorate (PTAD) made the announcement after the Presidency made the adjustments to conform with the 2019 new minimum wage.
The Executive Secretary of PTAD, Dr Chioma Ejikeme, made this known in a statement at the media briefing on Friday
Ejikeme said with the approval, the PTAD is now empowered to start the upward adjustment of all pensioners’ benefits according to the approved template.
Her statement reads: “It is my immense pleasure to interact with you and brief you this morning. The Presidential approval for the implementation of the consequential adjustment to the pension benefits occasioned by the new minimum wage of 2019 has been granted and the circular released.
“With this approval, PTAD is now empowered to start the upward adjustment of all pensioners’ benefits according to the approved template.
“The consequential adjustment of the new pension payment will start from the May 2021 payroll. The arrears will take effect from April 2019. PTAD will also commence payment of the arrears from May 2021.”
Recall that on April 22, 2021, the Executive Secretary of PTAD, issued a press statement to inform the general public of the sincerity of President Muhammadu Buhari to implement the consequential adjustment on the pension benefits.
