MPB Commence Payment of New Pension Rates – PensionNigeria

MPB Commence Payment of New Pension Rates

The Military Pension Board (MPB) has announced that, consequently upon the enactment of the new national Minimum Wage (Amendment) Act 2019 and the recent approval by Mr President for the payment of the consequential adjustment on pensions of retirees under the defined benefit scheme, the Military Pensions Board (MPB) wishes to inform our esteemed pensioners that a new pension chart has been approved for the MPB by the National Salaries Income and Wages Commission (NSIWC) for the implementation of same with effect from 18 April 2019.

Furthermore, the Board has received approval from the Federal Ministry of Finance, Budget and National Planning (FMoFBNP) for release of funds to effect payment of the new pension rates with effect from 21 May 2021, while promising to make funds available for the payment of the arrears in the near future. Accordingly, payment of May 2021 pensions to pensioners will be based on the new pension rates.

MPB said, the Board wishes to assure our esteemed military retirees, NOKs and other well-meaning Nigerians that the Board remains resolute and will do everything to sustain the prompt payment of all entitlements due to all military retirees or their NOKs in a transparent and accountable manner and to uphold principles of fairness and service to humanity in the discharge of the Board’s mandate. While thanking you for your patience, understanding and continued support, please accept my esteemed regards as always.

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