SmartMoney

Retirement

Why FG harmonised Nigerian military pensions

Abayomi Gabriel Olonisakin, Chief of Defense Staff

Abayomi Olonisakin, Chief of Defence Staff

The Federal Government has approved the harmonisation of the Nigerian military pension scheme, the Military Pensions Board (MPB) has confirmed.

The confirmation was made in a statement issued by the spokesman of the board, Flt.-Lt Ikenna Ezendu.

Ezendu said that the harmonisation took effect from August 2016.

He said the decision was part of efforts to bridge the gap in pensions between certain ranks of pensioners who retired before and after consolidation of salaries in July 2010.

READ ALSO  5 legal mistakes by entrepreneurs and how to avoid them

He said the MPB , in conjunction with the National Salary Income and Wages Commission(NSIWC), were working to ensure that the approved table by the Federal Government was applied during implementation.

Ezendu, however, advised pensioners and other stakeholders to disregard unofficial figures being circulated on the harmonisation of military pensions.

He said the figures published in some online media on the harmonised pension were wrong and should not be relied upon by pensioners across the country.

READ ALSO  How Police Pensions boss embezzled N24billion, EFCC witness reveals

“The mostly affected rank brackets for harmonisation are Private to Sergeant as well as Brigadier General and above.

“Therefore, pensioners should endeavour to find out the actual gap in pension between these two categories of pensioners to avoid speculation,’’ he said.

Ezendu added that the Pension Review Committee, coordinated by the Chief of Defence Staff, was working on a general review of military pension for all retirees.

READ ALSO  3 families sue govt. for N3b over land trespass, destruction of property

The gap that existed followed the consolidation of salaries by the Federal Government in 2010.

The present management of the board has introduced reforms to streamline the administration of military pensions in Nigeria.

The highpoint of the pension reforms include the digitisation of payment and verification of pensioners.

The Federal Government, had in March 2015, approved the payment of 33 per cent arrears of three years military pensioners, instead of the original 53 per cent.

Comments

Most Popular

To Top