Minimum Wage: Pensioners to enjoy increment, says Nta

With President Muhammadu Buhari’s approval on April 18, 2019, pensioners are now to enjoy an increase in payment of their pension under the defined pension scheme, following the increment in the minimum wage to N30, 000.

The approval would capture all pensioners from April 18, 2019 when the N30,000 naira minimum wage Bill was signed into law, according to the acting Chairman of National Salaries, Incomes and Wages Commission, Mr. Ekpo Nta.

Nta, who disclosed this yesterday in Calabar while briefing journalists, said: “I am delighted to inform you that as soon as Mr. President gave his approval, the circular indicating the pension increase for pensioners under the defined pension scheme was issued on April 29, this year, to all relevant stakeholders for immediate implementation, with effect from April 18, 2019.

“The National Minimum Wage Act 2019 legislated that the national minimum wage of N30, 000 should be applicable to all workers and employees in the country, except for exceptions as prescribed under the Act.

“Thereafter, the Federal Government and unions held negotiations in respect of consequential adjustments of salaries from the new minimum wage, which was finally concluded and circulars issued in 2019.”

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