Federal Government Considering Pension Increase In 2024, Says Wages Commission

Federal Government Considering Pension Increase In 2024, Says Wages Commission

The National Salaries, Incomes, and Wages Commission (NSIWC) have indicated that pensioners may receive a raise in their pensions next year. The commission has submitted a report on pension harmonization to the Federal Government, and it is actively pursuing the recommendations for consideration.

The Chairman of NSIWC, Ekpo Nta, shared this information during a courtesy visit by the executive committee of the Nigeria Union of Pensioners (All Sectoral Units/Parastatals) Nationwide, led by Chairman Samuel Adewale. Nta mentioned that the report, submitted in May 2023, is under regular follow-up by the commission, and considerations for pension increases in 2024 are dependent on the report’s outcomes.

Addressing concerns raised by the pensioners regarding the non-receipt of recently approved palliatives, Nta assured that relevant government bodies were addressing these issues. Additionally, the commission acknowledged the complaints about wrong computations of consequential adjustments and unreasonable deductions from pensions. The commission pledged to investigate and address these matters based on the documents submitted by the union.

Nta emphasized that the NSIWC circulars are issued after extensive consultations with major stakeholders, including the Federal Government. He clarified that circulars include provisions for seeking clarification, preventing unilateral amendments by any agency without written consent from the NSIWC.

The chairman assured that the NSIWC, as the secretariat of the Tripartite Committee of the National Minimum Wage, will facilitate preparations for the consideration of a new national minimum wage and accompanying pension review in 2024, in accordance with the National Minimum Wage Act 2019 and Section 173(3) of the Constitution of the Federal Republic of Nigeria 1999 (as amended).

Responding to a pensioner’s observation regarding a “corresponding increase in pensions,” Nta clarified that the term “corresponding” is not used in Section 173(3). He explained that increases in allowances for serving officers should not be interpreted as increases in salaries.

Nta also advised the union to negotiate with Health Maintenance Organisations for affordable health insurance covers for members. He suggested scheduling free online Zoom meetings for future discussions, considering the senior citizens’ ages and avoiding unnecessary travel.

The NSIWC is actively engaged in ensuring fair compensation for pensioners and is committed to addressing concerns raised by the Nigeria Union of Pensioners.

Source: Bushradiogist