PTAD Completes Payment of Arrears of the Consequential Adjustment to Pension to 3 Operational Departments of DBS Pensioners.
The Pension Transitional Arrangement Directorate (PTAD) has completed the payment of arrears arising as a result of the consequential adjustment to pensions to three out of the four operational departments in the Directorate.
It would be recalled that following the Presidential approval for a consequential adjustment to pension of the retirees under the Defined Benefit Scheme as a result of the increase in minimum wage in 2019, PTAD commenced payment of the pension increment in May 2021, with an accrued arrears of twenty-four months. Click to read more