PTAD to pay consequential pension adjustment to existing pensioners

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).

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