President Muhammadu Buhari has approved the consequential adjustment in the pension of retirees under the defined benefit scheme.
The approval followed long agitations by the Nigeria Union of Pensioners (NUP) urging the federal government to review the minimum pension for retirees following the signing of a new Minimum Wage in 2019.
According to a circular released by the National Salaries, Income and Wages Commission, the approval by President Buhari for the new pension increase takes effect from April 18, 2019.
The circular dated April 28th, 2021 with file number SWC/S/04/S.542/ll/298 was signed by Ekp Nta, the acting chairman of the Commission.
The circular reads in part, “Consequent upon the implementation of the National Minimum Wage (Amendment) Act 2019 and consequential adjustment in the salaries of employees in the Federal Public Service, the President of the Federal Republic of Nigeria has approved the consequential adjustment in the pensions of retirees, under the defined benefit scheme, of agencies on the following salary structures:
Consolidated Public Service Salary Structure (CONPSS); Consolidated Research and Allied Institutions Salary Structure (CONRAISS); Consolidated Tertiary Institutions Salary Structure (CONTISS Il); Consolidated University Academic Salary Structure (CONUASS) and Consolidated Tertiary Educational Salary Structure (CONTEDISS).
Others are Consolidated Polytechnics and Colleges of Education Academic Salary Structure (CONPCASS); Consolidated Health Salary Structure (CONHESS); and Consolidated Medical Salary Structure (CONMESS);
In its reaction, the Nigeria Union of Pensioners (NUP) commended the President for the release of the circular.
A short statement by NUP head of Information, Comrade Bunmi Ogunkolade said, “NUP appreciates President Muhammadu Buhari for the release of the circular.”