Home News PTAD to commence pension adjustment payment next week

PTAD to commence pension adjustment payment next week


The Pension Transitional Arrangement Directorate (PTAD) will commence the implementation of the consequential pension adjustment as approved by President Muhammadu Buhari next week, The Nation has learnt.

Consequently, pensioners under the Defined Benefit Scheme (DBS) will get increase in their monthly payment and arrears.

However, as the commencement of the payment draws near, pension fraudsters are said to be on the prowl, seeking bribes to help pensioners secure pension increase, arrears, among others.

Reacting to the development, PTAD spokesman, Olugbenga Ajayi, in a telephone conversation with The Nation, affirmed that the Directorate had received reports and complaints from pensioners about the scammers demanding bribes.

He stated that the Executive Secretary, PTAD, Dr. Chioma Ejikeme, had warned pensioners to be wary of scammers who may want to defraud them under the pretense of securing their benefits.

He, however, assured that pensioners under the DBS would have every cause to be happier by the end of this month.

He said: “Two good things will happen to pensioners this month. Their arrears on consequential adjustment will be paid and they will be placed on new monthly benefit.

“But we have noticed that as we are preparing to implement the consequential increment, tricks from the scammers have also increased on the pensioners.

“The Directorate is urging pensioners not to succumb to the demand of scammers. They must not be misled by the fraudsters who normally call pensioners to request for processing fees or cash to fast track payment of their outstanding entitlements.

“PTAD will never request cash from any pensioner to process their pension, so don’t give money to anybody. PTAD does not take money from anybody, to put you on the pay roll, to pay your arrears or for doing anything.

“PTAD does not take a kobo from any pensioners. So, you must be careful not to fall prey to these scammers.”


Previous articleBuhari hails new era at capital market
Next article15,418 employers get compliance certificates