The Federal Government of Nigeria has approved a ₦32,000 monthly increment for retirees, following adjustments to the salary structures as part of the new minimum wage implementation.
This increase affects retirees across various sectors, including healthcare, education, security forces, and other public service agencies.
According to a memo issued by the National Salaries, Wages, and Income Commission (NSIWC) on September 27, 2024, the adjustment applies to retirees under specific salary schemes such as the Consolidated Public Service Salary Structure, Consolidated Medical Salary Structure, and the Consolidated Armed Forces Salary Structure, among others.
The memo, signed by NSIWC Chairman Ekpo Nta, noted that the approval of the pension increase came after President Bola Tinubu signed the National Minimum Wage (Amendment) Act 2024 into law on July 29. The revised pension structure is effective from the same date.
The memo reads: “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 ₦32,000 per month on the pensions of retirees under the defined benefits scheme of agencies on 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 Consolidated Tertiary Educational Institutions Salary Structure.
“Consolidated Medical Salary Structure, Consolidated Health Salary Structure, Consolidated Para-Military Salary Structure, Consolidated Police Salary Structure, Consolidated Intelligence Community Salary Structure, and Consolidated Armed Forces Salary Structure.
“The approval takes effect from July 29, 2024. Agencies that are not part of any of the above-mentioned salary structures should, in line with Section 173 (3) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and Section 3 (P) of the NSIWC Act, apply to the commission to determine the appropriate increase that will be applicable to their retirees.”
Retirees from sectors including healthcare, education, police, paramilitary, and armed forces will benefit from this increment. The NSIWC also mentioned that agencies outside these salary structures are required to apply to the commission to determine the applicable increase for their retirees, as per the relevant constitutional provisions.
This adjustment follows deliberations by the Committee on Consequential Adjustments in Salaries for Civil Servants, which met in September to review the new minimum wage template. The effective date for the new minimum wage and related pension adjustments was set to July 29, 2024, aligning with the President’s signing of the new wage law.
The decision to raise the pension reflects the government’s commitment to improve the welfare of retirees, ensuring they receive appropriate benefits amid rising living costs.
