Pensions Board Pays Final Tranche of 24 Months Arrears of Minimum Wage Increment to Retired Soldiers.

The Military Pensions Board on Thursday disclosed that it has cleared the arrears of outstanding minimum wage increment to military pensioners in the country noting that the fourth and final tranche of the 24 months arrears has been paid.

Chairman of MPB, Rear Admiral SA Lawal made this known in a statement he personally signed pointing out that it is in fulfillment of the agreement reached between the board and the federal ministry of finance, budget and national planning.

The statement was titled, “Military Pensions Board Pays Fourth and Final Tranche of 24 Months Arrears of Minimum Wage Increment to Military Pensioners”.

It reads, “The Military Pensions Board (MPB) wishes to inform our esteemed military retirees and the general public that the Board has commenced payment of the fourth and final tranche of 25 percent of the 24 months arrears of increment in pensions occasioned by the National Minimum Wage to eligible military retirees on Thursday 3 November 2022.

“This is in line with the promise made by the Board after the payment of the third tranche of the minimum wage arrears on 4 August 2022.

“The fourth and final tranche is being paid to eligible military retirees who are active on the Board’s data base and it is in fulfillment of the agreement reached between the Board and the Federal Ministry of Finance, Budget and National Planning (FMoFBNP) for quarterly release of the appropriated sum this year.

“All eligible Military Pensioners are therefore adviced to contact their respective banks for their entitlements.

“On behalf of our esteemed military pensioners, the Board wishes to thank President Muhammadu Buhari for his immense support to the Board and military retirees.

“Also, the Board extends its appreciation to the Minister of Defence, Maj Gen BS Magashi (Rtd), the Minister of Finance Budget and National planning, Hajia Zainab Ahmed, the Chief of Defence Staff, Gen LEO Irabor as well as the Service Chiefs for their support and Intervention towards ensuring that funds for settling these arrears were appropriated for in the 2022 appropriation Act and cash backed accordingly.

“The Board would also like to thank our esteemed military retirees for their patience, understanding and continued support.”