Military Pensioners To Receive New Pension Rates

By: Okosun Dennis

Following the approval by the President and Commander in Chief of the Armed Forces of Nigeria, Mohammedu Buhari, Military Pensioners would be paid the new pension rates with effect from May, 2021.

In a statement signed by the Chairman, Military Pensions Board (MPB), Commodore S.A Lawal said that consequent 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) would pay the new pension chart that 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.

It was further learnt that 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 May 21, with a promise to make funds available for the payment of the arrears in the near future.

Cdre Lawal reiterated: “Accordingly, payment of May 2021 pensions to pensioners will be based on the new pension rates. The Board wishes to assure our esteemed military retirees, Next of Kind (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.

He thanked the retirees for their patience, understanding and continued support.