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PTAD: Changing the narrative of old pension scheme | The Nation Newspaper

PTAD: Changing the narrative of old pension scheme | The Nation Newspaper
thenationonlineng.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationonlineng.net Daily Mail and Mail on Sunday newspapers.

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FG implements pension increment for DBS retirees

Punch Newspapers Sections Published 7 June 2021 Federal pensioners under the Defined Benefits Scheme on Sunday confirmed the receipt of payments for 12 months following the consequential pension increment recently approved by the Federal Government. On May 26, 2021, the Pension Transitional Arrangement Directorate announced that it had commenced the payment of the consequential adjustment to pensioners under the Defined Benefit Scheme. In the preceding month, the President, Major General Muhammadu Buhari (retd.), had given approval for the implementation of the consequential adjustment to the pension benefits occasioned by the new minimum wage increase of April 2019. The Executive Secretary, PTAD, Dr. Chioma Ejikeme, had promised that the upward adjustment of pensioners’ benefits would take effect from May 2021.

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