In a recent announcement by the National Salaries, Wages, and Income Commission (NSIWC), retirees will see an increase of N32,000 in their monthly pensions.
This adjustment comes as a result of the government’s review of salary structures following the implementation of the National Minimum Wage (Amendment) Act 2024.
The memo, dated September 27, 2024, and signed by NSIWC Chairman Ekpo Nta, specifies that the pension increase applies to retirees from various sectors, including health workers, lecturers, police, paramilitary, and armed forces. The increase will be effective retroactively from July 29, 2024.
Affected retirees are those under the defined benefits scheme from agencies associated with the following salary structures: 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, and others related to the medical, health, paramilitary, police, intelligence, and armed forces sectors.
Agencies not included in these salary structures are advised to apply to the commission for a determination of applicable pension increases, in accordance with Section 173 (3) of the 1999 Constitution of Nigeria and Section 3 (P) of the NSIWC Act.
This decision follows a meeting on Friday where the Committee on Consequential Adjustments in Salaries for civil servants finalised the effective date for implementing the new minimum wage, which was officially signed into law by President Bola Tinubu on July 29, 2024, after consultations with labour leaders from the Nigeria Labour Congress and the Trade Union Congress of Nigeria.
