FG Proposed 2021 Budget for Pensions – PensionNigeria

FG Proposed 2021 Budget for Pensions

The Federal Government of Nigeria has presented its proposed 2021 Budget to the National Assembly. The proposed budget for the 2021 fiscal year is N13.08 trillion and the theme for the budget is “Budget of Economic Recovery and Resilience”. The total proposed budget for “Pension, Gratuities, and Retirees Benefit” is N501.19 billion around 3.83% of the total FG proposed 2021 budget.

Summary of the FG proposed 2021 budget for Pensions

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Breakdown of the FG proposed 2021 budget for Pensions

TOTAL ALLOCATION501,191,130,679
OFFICE OF THE HEAD OF CIVIL SERVICE (CIVILIAN PENSION)40,696,756,401
GRATUITIES2,185,000,000
PENSIONS38,381,756,401
PENSION RUNNING COST130,000,000
MILITARY PENSIONS AND GRATUITIES (DMP)183,748,495,159
PENSIONS133,596,383,192
EXPECTED RETIREES28,541,561,619
DEATH BENEFITS20,096,975,630
ADMINISTRATIVE CHARGES/RUNING COST154,500,142
PENSION RUNNING COST100,000,000
MEDICAL RETIREES1,259,074,576
NHIS – MILITARY RETIREES8,571,846,329
NHIS – MILITARY RETIREES – ARREARS 2014 – 20184,999,999,999
NHIS – MILITARY RETIREES – INCLUDING ARREARS3,571,846,330
DIA CIVILIAN STAFF PENSION AND GRATUITIES507,225,684
PENSION238,075,794
GRATUITY223,038,464
ADMINISTRATIVE CHARGES (INCLUDING VERIFICATION)46,111,426
POLICE PENSIONS AND GRATUITIES7,408,000,000
PENSIONS7,308,000,000
PENSION RUNNING COST100,000,000
CUSTOMS, IMMIGRATION AND PRISIONS PENSION OFFICE7,900,000,000
PENSIONS7,800,000,000
PENSION RUNNING COST100,000,000
UNIVERSITIES PENSION INCLUDING ARREARS15,537,657,501
PENSIONS15,537,657,501
PARASTATALS PENSION AND RAILWAY PENSIONS30,502,699,595
PENSIONS30,502,699,595
DEPARTMENT OF STATE SECURITY12,146,093,389
PENSIONS (INCLUDING ARREARS)9,647,031,216
GRATUITY1,835,743,137
DEATH BENEFITS663,319,037
NIGERIA INTELLIGENCE AGENCY9,326,641,130
PENSIONS/DEPENDANTS BENEFITS8,526,641,130
PENSION RUNNING COST300,000,000
BOARD ESTABLISHMENT500,000,000
NELMCO – Nigeria Electricity Liability Management Company31,292,843,014
NELMCO PENSIONS/ARREARS31,292,843,014
OTHER PENSIONS153,552,872,477
DEFUNCT PRIVATISED AGENCIES PENSION20,000,000,000
PAYMENT INTO REDEMPTION FUND100,000,000,000
PENSION PROTECTION FUND20,000,000,000
BENEFITS OF RETIRED HEADS OF SERVICE AND PERMANENT SECRETARIES AND PROFESSORS4,502,491,809
SEVERANCE BENEFITS TO RETIRED HEADS OF GOVERNMENT AGENCIES AND PARASTATALS1,000,000,000
ENTITTLEMENTS OF FORMER PRESIDENTS/HEADS OF STATES AND VICE PRESIDENTS/CHIEF OF GENERAL STAFF2,300,000,000
PAYMENT OF OUTSTANDING TERMINAL BENEFITS OF NIGERIA AIRWAYS EX-WORKERS5,750,380,668

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