PTAD To Implement New Pension Benefits From Next Month

The Pension Transitional Arrangement Directorate has announced its readiness to commence the payment of the new pension benefit as based on the recently approved minimum wage.

The Directorate, in a statement on Thursday called on the Nigeria Union of Pensioners to shelve its planned protest, stating that the implementation is most likely to commence at the end of April, 2021 going by the submissions that had been made by all stakeholders.

The 11th quadrennial Delegate Conference of the NUP had resolved to go on protest at the Office of the Secretary to the Government of the Federation, tomorrow, 23rd April, 2021 because of the delay in the implementation of the consequential adjustment to the pension benefits.

The Directorate admitted the delay and assured that the implementation will begin as early as May 2021.

It stated, “As a responsible Agency of government saddled with the responsibility of overseeing the payment of pension benefits to pensioners under the Defined Benefit Scheme and their welfare, we are encouraged to appeal to our respected Pensioners that there is no justification for the protest after the meeting with PTAD Executive Secretary, Dr. Chioma Ejikeme.

“It will be recalled that the Directorate held a meeting with the National Executives of the Union led by Dr. Abel Afolayan on the 16th March, 2021 where the issue of the implementation of the pension adjustment was openly discussed and the Union gave their understanding.

“At the meeting, the ES told the Exco that the implementation is most likely to commence at the end of April, 2021 going by the submissions that had been made by all stakeholders.

“Our Senior Citizens have nothing to fear because we have a President that has demonstrated greater commitment to the welfare of our Pensioners through PTAD more than any other President we have had in the past.

“Therefore, the issue of implementation will not be different. The matter is very important to the President.

“We know the Pensioners have waited enough, although the issue of the Covid-19 played a significant role in the delay, we wish to encourage our Senior Citizens to trust that the consequential adjustment will be made without further delay. There is no reason for this protest.”

ENDS

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