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PTAD: Pensioners Receive 18 Months Arrears Of Pension Increment

PTAD: Pensioners Receive 18 Months Arrears Of Pension Increment

The Pension Transitional Arrangement Directorate (PTAD) says it has paid a total of 18 months out of the 24 months arrears of the pension increment.

The directorate in a statement issued by its spokesperson, Olugbenga Ajayi, on Tuesday said an additional nine months of consequential adjustment arrears to civil service pension department pensioners had been paid.

It added that six months of the same arrears to parastatals, police, customs, immigration and prisons department pensioners had also been paid.

The agency said, “This brings the arrears paid so far to a total of 18 out of the 24 months arrears of the pension increment,”

The Executive Secretary, PTAD, Chioma Ejikeme, explained that the payments were occasioned by the new minimum wage increase of 2019.

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In May this year, PTAD implemented the consequential adjustment on pensions as a result of the minimum wage increment of 2019.

It commenced payment of arrears to the pensioners of the four operational departments of the directorate as directed by the President, Major General Muhammadu Buhari, (retd.).

Civil service pensioners were paid nine months of the arrears, while parastatals, police, customs immigration and prisons pensioners were paid 12 months’ arrears in May.

About Author

Ife Ogunfuwa is an award-winning reporter who is versed in reporting business and economy, technology, gadgets reviews, telecoms, tax, and business policy review, among others. She loves telling stories behind the numbers. She has professional certifications in business and financial reporting. You can reach her via – [email protected]

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