Minimum Wage: FG approves enhanced pay for Pensioners from May
The Federal Government will also soon commence payment of enhanced pension to retirees to reflect the new minimum wage, the Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD) , Chioma Ejikeme, has said.
Ejikeme told reporters during a briefing in Abuja on Friday that the Directorate had obtained the presidential approval for the implementation of the consequential adjustment to the pension benefits occasioned by the new minimum wage of 2019.
According to her, the payment of the new pension to retirees will commence from May.
PTAD was established by the Federal Government in August 2013 in compliance with the provisions of Section 30 sub-section (2) (a) of the Pension Reform Act (PRA) of 2004 (amended in 2014).
PTAD would commence the upward adjustment of all pensioners' benefits according to the approved template, the Executive Secretary said.
The PTAD chief also announced that the arrears would take effect from April 2019 and the agency would commence payment also in May.
She said that Nigeria Union of Pensioners (NUP) has no reason to protest as the issue was at the conclusive stage and PTAD will continue to work hard to improve the quality of the lives of the senior citizens.
The PTAD chief appealed to the senior citizens to continue to cooperate with the agency to provide better services to them.