PTAD To Pay Consequential Pension Adjustment To ALL Existing Pensioners From May

Yemisi Izuora

The Pension Transitional Arrangement Directorate (PTAD) has assured that all pensioners of federal parastatals are entitled to the Consequential Pension Adjustment.

The Agency therefore dismissed a statement issued by the Federal Parastatals and Private Sector Pensioners Association of Nigeria (FEPPAN) published in the Vanguard Newspaper (online edition) of 1st May 2021 in which the Association alleged that it had been left out of the consequential pension adjustment approved by President Muhammadu Buhari.

“We would like to state emphatically that Mr. President’s approval under reference covers all pensioners under the Defined Benefit Scheme (DBS) including parastatal pensioners who constitute the membership of FEPPAN, and does not discriminate against any category of pensioners. For the avoidance of doubt, the Directorate has already computed the entitlements of all its pensioners and will commence the immediate implementation of the consequential increment as approved by Mr. President.

This, therefore, renders any call of potential engagement of any Federal Government agency by FEPPAN irrelevant as all its members are covered under the DBS umbrella as stated in the circular released by the National Salaries Wages and Incomes Commission (NSWIC).

“We will, therefore, like to use this opportunity to continue to appeal to the leadership of all pension unions to avail themselves of the freedom of information offered by the Directorate pertaining to all pension matters in order to avoid the unfortunate misconception of laudable government policies as was evident in the news story mentioned earlier.” it said in a statement.

Olugbenga Ajayi, spokeman of PTAD told Oriental News Nigeria, that what is happening at the moment is that the PTAD is not leaving anyone out and not bringing anyone in. “All verified pensioner under federal parastatal is duly entitled for payment as approved” he said.

He also confirmed that the payment will be effected this month of May.

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