The Nigeria Union of Pensioners (NUP) has confirmed the payment of 20 per cent pension increase for retirees under the Defined Benefit Scheme (DBS).
The union hailed President Bola Tinubu for the increment and the introduction of a minimum pension of N32,000 for retirees.
The 20 per cent pension increase, backdated to January 2024, has been paid to many DBS pensioners, while the minimum pension of N32,000, approved in July 2024, has also reached several beneficiaries.
According to the NUP, these initiatives reflect President Tinubu’s “love and commitment to ensuring pensioners in the country are supported and their rights protected and promoted.”
In a statement signed by its National President, Comrade Godwin Abumisi, the union praised the President for implementing significant measures to alleviate the economic challenges faced by retirees under the DBS.
The NUP also expressed gratitude to the Pension Transitional Arrangement Directorate (PTAD) and its new Executive Secretary, Tolulope Odunaiya, for ensuring the timely disbursement of the pension increments.
