The Federal Government has approved a pension increase of N32,000 for retirees, following a review of the national minimum wage structure.
This adjustment, announced by the National Salaries, Wages, and Income Commission, applies to retirees from specific salary schemes, including health workers, doctors, lecturers, police, paramilitary, and armed forces personnel. The decision comes after President Bola Tinubu approved the new minimum wage law, which took effect on July 29, 2024.
The retirees affected by this increase are from agencies covered under various consolidated salary structures in the public service. Agencies outside these structures will need to apply for a pension review based on relevant legal provisions.
This adjustment is part of a broader effort to align pensions with the newly approved wage structure for federal civil servants.