Following the persistent protests and agitation by the Nigeria Union of Pensioners (NUP), President Muhammadu Buhari has finally approved the consequential adjustment in the pension of retirees under the defined benefit scheme.
For almost two years, NUP had been urging the Federal Government to review and implement the minimum pension for retirees following the signing of a new Minimum Wage in 2019.
In a circular released by the National Salaries, Income and Wages Commission (NSIWC), the agency disclosed that the new pension review was approved by President Buhari and will take its effect from April 18, 2019. Consequently, all Pensioners from that date would be paid under the new scheme.
The circular which was dated April 28th, 2021 with file number SWC/S/04/S.542/ll/298 was signed by the Acting chairman of the Commission, Mr Ekpo Nta.
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);
Reacting to the development, the NUP commended the President for the release of the circular. In a statement by NUP signed by its Head of Information, Comrade Bunmi Ogunkolade, the union appreciated the president for the new increase.