FG To Begin Implementation Of 33.4% Pension Increase From October 2014

The presidential technical committee on pensions has resolved to begin the implementation of the 33.4% pension increase with effect from October 2014.

Chairman of the committee, Anyim Pius Anyim, who is also the secretary to the government of the federation said this at the end of its meeting in Abuja on Wednesday.

Speaking with AIT at the end of the closed-door meeting, president of the Nigeria Union of Pensioners, Abel Afolayan said the committee also agreed that the payment of the arrears from 2010 will be appropriated in the 2015 budget.

Afolayan added that the federal government agreed to release the enabling circular to affect the payment on Friday, September 26.

Afolayan however said since the original increase agreed in 2010 was 53.4%, both the civilian and military pensioners will jointly purser the remaining part of 20%.

Present at the technical committee are the ministers of labour and that of state for finance, the head of civil service of the federation as well as the chairman salaries and wages commission.

Others are the director general, pension transitional administration directorate, the general secretary, Nigeria labour congress and the president of the Nigeria union of pensioners.