KEY POINTS

• FG approves 20% pension increase, sets N32,000 minimum pension.
• First time pension adjustment implemented without protests.
• Discrepancies in pension payments must be addressed promptly, PTAD urged.

The Nigeria Union of Pensioners (NUP) has commended the federal government for approving a 20percent increase in pension and minimum pension of N32,000 to retirees.

Speaking Sunday in Abuja, NUP National President, Mr. Godwin Abumisi, said the measures were worthwhile initiatives for the betterment of the pensioners.

Abumisi also thanked President Bola Tinubu for his commitment to tackling the economic issues confronting pensioners under the Defined Benefit Scheme (DBS).

Moreover the 20 percent pension increase was ‘a historic vote’ as the first time retirees have not protested to get it, he said.

Minimum pension, stability for everyone

Leaders emphasized the minimum pension of N32,000 as a critical step to keep retirees financially stable. The initiative, Abumisi further described, was based on the government’s pledge to give pensioners a better tomorrow.

He equally appreciated the presidency of Ptad and its newly appointed Executive Secretary, Ms Tolulope Odunaiya for making deployments of pension increment to their beneficiaries possible at the right time.

Payment discrepancies concerns

Abumisi acknowledged achieving these results but stated that some pensioners had not received their full entitlements. PTAD should review its records and ensure that all retirees enjoy the reforms,’ he urged PTAD to do this and resolve outstanding issues where necessary.

However, Abumisi remained optimistic that the efforts and reforms currently underway and possible bright future for pensioners in Nigeria if the government can continue in its support of the welfare of retirees.