President Muhammadu Buhari has approved the payment of the consequential adjustment to pensioners under the Defined Benefit Scheme in line with the minimum wage approved in 2019.
The Executive Secretary, Pension Transitional Arrangement Directorate, Dr Chioma Ejikeme, disclosed this at a news conference on Friday in Abuja. She said that with the presidential approval, PTAD had been empowered to start the upward adjustment of all pensioners’ benefits according to the approved template. Ejikeme said the adjustment of the new pension payment would start from May 2021 adding that the payment of the arrears would cover the period of the implementation of the minimum wage.
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