Retirees across various sectors in Nigeria will receive an additional N32,000 in their monthly pensions following adjustments to the salary structure by the government.
This was revealed in a memo from the National Salaries, Wages, and Income Commission (NSIWC), dated September 27, 2024.
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The memo, signed by NSIWC Chairman Ekpo Nta, highlighted that the pension increase applies to retirees from sectors including healthcare, education, law enforcement, and the armed forces.
The affected salary structures include the Consolidated Public Service Salary Structure, Consolidated Research and Allied Institutions Salary Structure, Consolidated Universities Academic Salary Structure, and several others related to health, paramilitary, and intelligence agencies.
“Consequent upon the implementation of the National Minimum Wage (Amendment) Act 2024 and the consequential adjustments in the salaries of employees in the Federal Public Service, the President of the Federal Republic of Nigeria has approved an increase of N32,000 per month on the pensions of retirees under the defined benefits scheme,” the memo stated.
The increase takes effect from July 29, 2024, aligning with the date President Bola Tinubu signed the new minimum wage bill into law after consultations with the Nigeria Labour Congress and the Trade Union Congress of Nigeria.
Agencies not covered by the outlined salary structures are encouraged to apply to the commission for guidance on the appropriate pension increment for their retirees, in accordance with constitutional provisions.
