Photo Illustration: Retirees

As a result of the salary structure adjustments made by the government-appointed committee to review the new minimum wage, retirees will now see an increase of N32,000 in their monthly pensions.

This information was disclosed in a memo from the National Salaries, Wages, and Income Commission, on Monday.

The memo, dated September 27, 2024, and signed by NSIWC Chairman Ekpo Nta, states that the increase applies to retirees under the salary schemes for doctors, health workers, lecturers, police, paramilitary, armed forces, and other groups.

“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:

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.”

The Committee on Consequential Salary Adjustments for civil servants convened on Friday to discuss the new minimum wage template, agreeing to set July 29, 2024, as the effective implementation date.

President Bola Tinubu signed the new minimum wage into law on July 29, following discussions with leaders of the Nigeria Labour Congress and the Trade Union Congress of Nigeria.

The National Salaries and Wages Commission explained that the decision to implement the new wage from July 2024 was due to the President’s signing of the bill in the same month.

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