Nigeria's No. 1 pension news and information website

MPB begins payment of pension arrears to over 90,000 retirees


Feb 7, 2022
Spread the love

military pension board logo

The Military Pensions Board (MPB) has begun paying over 90,000 eligible military pensioners across the country their 24-month arrears of minimum wage increment. This was disclosed by the Chairman of the board, Rear Adm. Saburi Lawal to newsmen.

Lawal stated that the board had started paying out 25% of the outstanding amount to individual pensioners and that the payment will be made in four quarterly installments.

The first 25% will be paid in February, followed by the second in April, the third in July, and the fourth and final in October, according to the chairman.

He further stated that the Next-of-Kin (NOKs) of deceased pensioners who were still alive in April 2019, when President Muhammadu Bihari approved the consequential adjustment, had been paid.
According to him, all pensioners who died between April 2019 and April 2021 were similarly entitled to the arrears, and their NOKs were paid in full.

“MPB wishes to advise our valued retirees and pensioners that on February 3, 2022, the board began paying 25% of the arrears of minimum salary increments to qualifying military retirees on MPB payroll.

“This payment is the first out of four installment payments that will be made to all pensioners entitled to the arrears of minimum wage increment on pensions.

“Our esteemed pensioners should please note that this installment payment arrangement is the outcome of the discussions and agreement reached between the Board and the Federal Ministry of Finance, Budget and National Planning,” he concluded.

It is for quarterly distributions of the allotted sum in the first month of each quarter, according to him. As a result, if all other factors remain constant, the outstanding arrears will be paid in the months of April, July, and October.

Lawal highlighted that the consequential pension modifications brought about by the new National Minimum Wage (Amendment) Act 2019 did not affect the pensions of senior officers of the rank of Major-General and above or their equivalents.

He reassured military retirees, NOKs, and other well-intentioned Nigerians that the board would remain steadfast and achieve full payment of the arrears before the end of the year, subject to monies being released.


Spread the love
Need help?
Pension Talk
Thank you for visiting .
How may we help you?