The Nigeria Union of Pensioners (NUP) has announced the payment of 20 per cent pension increase for retirees under the Defined Benefit Scheme (DBS).
The union praised President Bola Tinubu for the increment and the introduction of a minimum pension of N32,000 for retirees.
Backdated to January 2024, the 20% pension increase has been paid to many DBS pensioners, while the minimum pension of N32,000, has also reached several beneficiaries.
NUP added that these initiatives reflect President Tinubu’s “love and commitment to ensuring pensioners in the country are supported and their rights protected and promoted.”
A statement from the union, signed by its National President, Comrade Godwin, read: “This is the first of its kind that pensioners will receive any form of pension increase without protests in different forms.
“We hail you, Mr. President. We appreciate her promise to ensure that the 20% pension increase is paid before the end of December 2024 and her strict implementation of President Tinubu’s policy direction on pensioners’ welfare.
“As of today, the 20per cent pension increment arrears have not been fully paid to all DBS pensioners. Furthermore, 70per cent of pensioners are yet to receive the N32,000 minimum pension.
“We demand that PTAD pay serious attention to ensuring no DBS pensioner is omitted or deprived of their rights in the name of system failure or man-made error in the payment processes.
“We are grateful for the 20per cent pension increase and the ₦32,000 pension award that is today a minimum pension.
“The approval of these measures is a testament to the government’s understanding of the economic realities facing pensioners and its determination to provide relief.”
Source: www.mynigeria.com
