BY MARK ITSIBOR, Abuja
The federal government has approved implementation of consequential adjustment on pension benefits.
This adjustment followed the implementation of the N30,000 minimum wage in 2019 for retirees under the old pension scheme.
To this end, the implementation will commence from May 2021.
Speaking on this development at the weekend in Abuja, the executive secretary of Pension Transitional Arrangement Directorate(PTAD), Dr Chioma Ejikeme said, the payment of the arrears will cover the period of implementation of the minimum wage, which is, from April 2019 till date.
The arrears is expected to be paid along with their monthly benefit starting from May payroll this year.
According to her, ‘all the pensioners under the defined benefit scheme.’
The pensioners had earlier embarked on a nationwide protest over non-implementation of the consequential adjustment of pensions as a result of the N30,000 national minimum wage for government workers.
Ejikeme had said the president Buhari was committed to implementing the consequential adjustment on the pension benefits through PTAD.
She said there was no reason for the retirees to go on protest because the matter had been finalised. “True to that statement, we can confirm that the consequential adjustment will be implemented from May 2021 payroll,” she said.
To her, “It’s supposed to take effect from April 2019. Subject to availability of funds, we will pay. The PTAD has about 20 months outstanding.”