Full Circular released by National Salaries, Incomes and Wages Commission (NSIWC) on Consequential Adjustment in Pensions Arising From National Minimum Wage 2019 – PensionNigeria

Full Circular released by National Salaries, Incomes and Wages Commission (NSIWC) on Consequential Adjustment in Pensions Arising From National Minimum Wage 2019

The Federal Government last week approved the adjustment in pensions of retirees under the Defined Benefit Scheme, arising from the implementation of the New National Minimum Wage Act 2019. Below is the Circular released by National Salaries, Incomes and Wages Commission (NSIWC) on the Consequential Adjustment in pensions arising from National Minimum Wage 2019.

Circular No. SWC/S/04/S.542/II/298 Dated 28th April 2021 on “Consequential Adjustment in Pensions Arising From The Implementation of The New National Minimum Wage 2019”

Chief of Staff to the President
Deputy Chief overstaff to the President, Office of the Vice President
Honourable Ministers/Ministers of State
Secretary to the Government of the Federation
Head of the Civil Service of the Federation
National Security Adviser
Economic Adviser to the President
Special Advisers/Senior Special Assistants
Chief of Defence Staff/Service Chiefs/Inspector-General of Police
Governor, Central Bank of Nigeria
Chairman, Federal Civil Service Commission
Chairman, Police Service Commission
Chairman, Code of Conduct Bureau
Chairman, Code of Conduct Tribunal
Chairman, Federal Character Commission
Chairman, Revenue Mobilization, Allocation and Fiscal Commission
Chairman, Federal Inland Revenue Service
Chairman, Independent National Electoral Commission
Chairman, National Population Commission
Chairman, Independent Corrupt Practices and Other Related Offences Commission
Chairman, Economic and Financial Crimes Commission
Chairman, National Drug Law Enforcement Agency
Chairman, National Assembly Service Commission
Permanent Secretaries and Heads of Extra-Ministerial Departments
Clerk of the National Assembly
Chief Registrar, Supreme Court of Nigeria
Secretary, National Judicial Council
Accountant-General of the Federation
Auditor-General for the Federation
Surveyor-General of the Federation
Executive Secretary, Pension Transitional Arrangement Directorate
Director-General, National Pension Commission
Directors-General/Chief Executives of Parastatals, Agencies
and Government-Owned Companies

CONSEQUENTIAL ADJUSTMENT IN PENSIONS ARISING FROM THE IMPLEMENTATION OF THE NEW NATIONAL MINIMUM WAGE, 2019

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:

(i) Consolidated Public Service Salary Structure (CONPSS);
(ii) Consolidated Research and Allied Institutions Salary Structure (CONRAISS);
(iii) Consolidated Tertiary Institutions Salary Structure (CONTISS II);
(iv) Consolidated University Academic Salary Structure (CONUASS II);
(v) Consolidated Tertiary Educational Salary Structure'(CONTEDISS);
(vi) Consolidated Polytechnics and Colleges of Education Academic Salary Structure (CONPCASS);
(vii) Consolidated Health Salary Structure (CONHESS);
(viii) Consolidated Medical Salary Structure (CONMESS);
(ix) Consolidated Intelligence Community Salary Structure (CONICSS:);
(x) Consolidated Armed Forces salary Structure (CONAFSS);
(xi) Consolidated Police Salary Structure (CONPOSS); and
(xii) Consolidated Para-military Salary Structure (CONPASS).

The table showing the absolute increases is attached as Annex I.

This approval takes effect from 18th April 2019.

It should be noted that retirees of agencies that are not in any of the above mentioned salary structures will not be entitled to these increases in their pensions. However, these agencies should, in line with sections 173 (3) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and 3 (P) of NSIWC Act, apply to the Commission to determine the appropriate increases that will be applicable to their retirees.

Enquiries relating to this circular should be directed to the Commission.

Signed by Ekpo U O Nta, Esq, Acting Chairman of National Salaries, Incomes and Wages Commission (NSIWC)

Annex I

TABLE OF CONSEQUENTIAL ADJUSTMENT IN PENSIONS ARISING FROM THE IMPLEMENTATION OF THE NATIONAL MINIMUM WAGE, 2019. Effective Date: 18th April 2019

CONPSS Grade Level Current Pension per month (N)Approved (%) Increase In Pension New Pension per month (N)Absolute Increase per month (N)
0114,733.4459%23,426.178,692.73
0215,974.3458%25,239.459,265.12
0317,160.8357%26,942.509,781.67
0418,825.2555%29,179.1410,353.89
0521,517.5251%32,491.4610,973.94
0626,226.9142%37,242.2111,015.30
0735,907.5814%40,934.645,027.06
0845,107.7512%50,520.685,412.93
0953,187.6612%59,570.186,382.52
1061,921.9410%68,114.136,192.19
1269,640.3210%76,604.356,964.03
1376,464.1610%84,110.567,646.41
1483,813.2110%92,194.538,381.32
15113,729.109%123,964.7210,235.62
16141,813.209%154,576.3912,763.19
17173,108.719%188,688.4915,579.79
TABLE OF CONSEQUENTIAL ADJUSTMENT IN PENSIONS ARISING FROM THE IMPLEMENTATION OF THE NATIONAL MINIMUM WAGE, 2019

Note; The absolute increase will apply to all pensioners on equivalent grade level on the other harmonized salary structure.

Also read

FG approves New Minimum Pension for Pensioners

No DBS Pensioners will be Left Out of the Consequential Adjustment (Minimum Pension)

Statement by Acting Chairman, National Salaries, Incomes and Wages Commission on Minimum Wage Consequential Adjustments for Pensioners

Full Circular released by National Salaries, Incomes and Wages Commission (NSIWC) on Consequential Adjustment in Pensions Arising From National Minimum Wage 2019

Is PTAD ready to go for payment of Minimum Pension Consequential Adjustment from National Minimum Wage 2019?

Status of Minimum Pension under Contributory Pension Scheme

All Minimum Pension News are available here

Support PensionNigeria financially here, empower us to do more independent analysis of the Pension Industry in Nigeria

Subscribe to PensionNigeria Weekly Newsletter to ensure you don’t miss any post Click here to Subscribe

Pension is Your Right,
An Insurance for Old Age
Follow PensionNigeria on Social Media LinkedIn Twitter Instagram Facebook YouTube

error: Content is protected.