Retirees in Nigeria will now receive an additional N32,000 in their monthly pensions, following consequential adjustments in salary structures by the government’s review committee on the new minimum wage.
This was confirmed in a memo from the National Salaries, Wages, and Income Commission (NSIWC), issued on September 27, 2024.
The memo, signed by NSIWC Chairman Ekpo Nta, states that the pension increment applies to retirees who worked under specific salary schemes, including those for doctors, health workers, lecturers, police, paramilitary personnel, and the armed forces.
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The statement reads: “Following the implementation of the National Minimum Wage (Amendment) Act 2024 and the subsequent salary adjustments for federal public servants, the President of the Federal Republic of Nigeria has approved an increase of N32,000 per month for retirees under the defined benefits scheme.”
- Retirees Under Various Salary Structures to Benefit
- The affected salary structures include:
- Consolidated Public Service Salary Structure
- Consolidated Research and Allied Institutions Salary Structure
- Consolidated Universities Academic Salary Structure
- Consolidated Tertiary Institutions Salary Structure II
- Consolidated Polytechnics and Colleges of Education Academic Staff Salary Structure
- Consolidated Medical Salary Structure
- Consolidated Health Salary Structure
- Consolidated Para-Military Salary Structure
- Consolidated Police Salary Structure
- Consolidated Intelligence Community Salary Structure
- Consolidated Armed Forces Salary Structure
The approval takes effect from July 29, 2024. According to the memo, agencies not covered under these salary structures are instructed to apply to the commission for an appropriate pension increase, as per the provisions of the 1999 Constitution (as amended) and the NSIWC Act.
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Minimum Wage Law Signed by President Tinubu
The announcement follows the Committee on Consequential Adjustments in Salaries for civil servants, which recently finalized the new minimum wage template. The new wage was signed into law by President Bola Tinubu on July 29, 2024, after consultations with the Nigeria Labour Congress and the Trade Union Congress of Nigeria. The effective date for the pension increase was also set to coincide with the signing of the law.