The government’s committee reviewed the new minimum wage, and retirees will now get an extra N32,000 in their monthly pensions.
The memo, signed by Chairman Ekpo Nta from NSIWC, says that the retirees affected are those who retired as doctors, health workers, lecturers, police, paramilitary, armed forces, and others.
“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 N32,000 per month on the pensions of retirees under the defined benefits scheme of agencies on the following salary structures:
“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.”
The National Salaries and Wages Commission said they set the date for July 2024 because the President signed the bill that month.