The Federal Government of Nigeria has approved a monthly pension increase of N32,000 for retirees under several key public service salary structures. This move is part of the consequential adjustments to salaries in line with the new minimum wage law.
The National Salaries, Wages, and Income Commission (NSIWC) confirmed the pension raise in a memo dated September 27, 2024. The memo, signed by NSIWC Chairman Ekpo Nta, outlines that the adjustment will affect retirees from the health, education, and security sectors, including doctors, lecturers, police officers, paramilitary personnel, and members of the armed forces.
The pension increase is part of the broader implementation of the National Minimum Wage (Amendment) Act of 2024, which took effect on July 29, 2024, following the approval of President Bola Tinubu. The adjustments will apply to several consolidated salary structures, such as the Consolidated Public Service Salary Structure (CONPSS) and the Consolidated Armed Forces Salary Structure (CONAFSS), among others.
The memo elaborated, “Following the implementation of the National Minimum Wage (Amendment) Act 2024 and the consequential adjustments in the salaries of Federal Public Service employees, 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 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.”
The increase also covers retirees under the Consolidated Medical Salary Structure (CONMESS), Consolidated Health Salary Structure (CONHESS), Consolidated Para-Military Salary Structure, Consolidated Police Salary Structure, Consolidated Intelligence Community Salary Structure, and Consolidated Armed Forces Salary Structure.
The NSIWC further directed government agencies that are not included in these listed structures to apply for pension adjustments in accordance with the provisions of the 1999 Constitution and the NSIWC Act.
The memo added, “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.”
The pension increase comes on the heels of the new minimum wage law passed in 2024, which was signed by President Tinubu after extensive consultations with labour unions. The adjustment is one of the government’s measures aimed at easing the financial pressures on retirees and ensuring their pensions reflect the current economic realities.
The increment is seen as a significant step in improving the welfare of Nigeria’s public sector retirees, ensuring they are better equipped to handle rising living costs as the country navigates challenging economic conditions.
