Wages Commission Report That FG Might Increase Pensions In 2024

The Federal Government (FG) may increase pensions in 2024, as indicated in a report on pension harmonization submitted by the National Salaries, Incomes, and Wages Commission. The Commission conveyed this information to the Nigeria Union of Pensioners during a visit led by Chairman Samuel Adewale. In response to concerns about the non-receipt of approved palliatives, the NSIWC chairman assured that relevant government organs were addressing the issues.

The statement revealed that the Commission had submitted its pension harmonization report to the government in May 2023, considering inputs from stakeholders and funding availability. The Chairman, Ekpo Nta, emphasized the ongoing follow-up, stating that pension increases in 2024 would be influenced by this report.

Addressing complaints about incorrect computations and unreasonable deductions, Nta pledged to examine the issues based on documents provided by the union. He emphasized that the commission’s circulars undergo extensive consultations and can be clarified upon request, preventing unilateral amendments.

Regarding constitutional provisions, Nta clarified that the term ‘corresponding’ is not used in Section 173(3). He highlighted the commission’s role in preparing for a new national minimum wage and accompanying pension review in 2024, aligning with the National Minimum Wage Act 2019 and the Constitution.

Nta advised the union to negotiate with Health Maintenance Organisations for affordable health insurance and suggested scheduled online Zoom meetings for future discussions, considering the convenience for senior citizens.