FG Approved 2021 Budget for Pensions
President Muhammadu Buhari has approved the 2021 Budget which was slightly increased from the proposed N13.08 trillion forwarded to the National Assembly to N13.59 trillion. The theme for the budget is “Budget of Economic Recovery and Resilience”.
The total approved budget for “Pension, Gratuities, and Retirees Benefit” was increased from N501.19 billion to N504.19 billion which represents an increase of N3 billion in Military pension only. The percentage of the approved budget for “Pension, Gratuities, and Retirees Benefit” compared to the Total Budget reduced from 3.83% to 3.71%.
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Summary of FG approved 2021 budget for Pensions
Breakdown of FG approved 2021 budget for Pensions
| PENSION, GRATUITIES AND RETIREES BENEFITS | Proposed Budget | Approved Budget | Addition |
|---|---|---|---|
| TOTAL ALLOCATION: | 501,191,130,679 | 504,191,130,679 | 3,000,000,000 |
| OFFICE OF THE HEAD OF CIVIL SERVICE (CIVILIAN PENSION) | 40,696,756,401 | 40,696,756,401 | – |
| GRATUITIES | 2,185,000,000 | 2,185,000,000 | – |
| PENSIONS | 38,381,756,401 | 38,381,756,401 | – |
| PENSION RUNNING COST | 130,000,000 | 130,000,000 | – |
| MILITARY PENSIONS AND GRATUITIES (DMP) | 183,748,495,159 | 186,748,495,159 | 3,000,000,000 |
| PENSIONS | 133,596,383,192 | 133,596,383,192 | – |
| EXPECTED RETIREES | 28,541,561,619 | 28,541,561,619 | – |
| DEATH BENEFITS | 20,096,975,630 | 23,096,975,630 | 3,000,000,000 |
| ADMINISTRATIVE CHARGES/RUNING COST | 154,500,142 | 154,500,142 | – |
| PENSION RUNNING COST | 100,000,000 | 100,000,000 | – |
| MEDICAL RETIREES | 1,259,074,576 | 1,259,074,576 | – |
| NHIS – MILITARY RETIREES | 8,571,846,329 | 8,571,846,329 | – |
| NHIS – MILITARY RETIREES – ARREARS 2014 – 2018 | 4,999,999,999 | 4,999,999,999 | – |
| NHIS – MILITARY RETIREES – INCLUDING ARREARS | 3,571,846,330 | 3,571,846,330 | – |
| DIA CIVILIAN STAFF PENSION AND GRATUITIES | 507,225,684 | 507,225,684 | – |
| PENSION | 238,075,794 | 238,075,794 | – |
| GRATUITY | 223,038,464 | 223,038,464 | – |
| ADMINISTRATIVE CHARGES (INCLUDING VERIFICATION) | 46,111,426 | 46,111,426 | – |
| POLICE PENSIONS AND GRATUITIES | 7,408,000,000 | 7,408,000,000 | – |
| PENSIONS | 7,308,000,000 | 7,308,000,000 | – |
| PENSION RUNNING COST | 100,000,000 | 100,000,000 | – |
| CUSTOMS, IMMIGRATION AND PRISIONS PENSION OFFICE | 7,900,000,000 | 7,900,000,000 | – |
| PENSIONS | 7,800,000,000 | 7,800,000,000 | – |
| PENSION RUNNING COST | 100,000,000 | 100,000,000 | – |
| UNIVERSITIES PENSION INCLUDING ARREARS | 15,537,657,501 | 15,537,657,501 | – |
| PENSIONS | 15,537,657,501 | 15,537,657,501 | – |
| PARASTATALS PENSION AND RAILWAY PENSIONS | 30,502,699,595 | 30,502,699,595 | – |
| PENSIONS | 30,502,699,595 | 30,502,699,595 | – |
| DEPARTMENT OF STATE SECURITY | 12,146,093,389 | 12,146,093,389 | – |
| PENSIONS (INCLUDING ARREARS) | 9,647,031,216 | 9,647,031,216 | – |
| GRATUITY | 1,835,743,137 | 1,835,743,137 | – |
| DEATH BENEFITS | 663,319,037 | 663,319,037 | – |
| NIGERIA INTELLIGENCE AGENCY | 9,326,641,130 | 9,326,641,130 | – |
| PENSIONS/DEPENDANTS BENEFITS | 8,526,641,130 | 8,526,641,130 | – |
| PENSION RUNNING COST | 300,000,000 | 300,000,000 | – |
| BOARD ESTABLISHMENT | 500,000,000 | 500,000,000 | – |
| NELMCO | 31,292,843,014 | 31,292,843,014 | – |
| NELMCO PENSIONS/ARREARS | 31,292,843,014 | 31,292,843,014 | – |
| OTHER PENSIONS | 153,552,872,477 | 153,552,872,477 | – |
| DEFUNCT PRIVATISED AGENCIES PENSION | 20,000,000,000 | 20,000,000,000 | – |
| PAYMENT INTO REDEMPTION FUND | 100,000,000,000 | 100,000,000,000 | – |
| PENSION PROTECTION FUND | 20,000,000,000 | 20,000,000,000 | – |
| BENEFITS OF RETIRED HEADS OF SERVICE AND PERMANENT SECRETARIES AND PROFESSORS | 4,502,491,809 | 4,502,491,809 | – |
| SEVERANCE BENEFITS TO RETIRED HEADS OF GOVERNMENT AGENCIES AND PARASTATALS | 1,000,000,000 | 1,000,000,000 | – |
| ENTITTLEMENTS OF FORMER PRESIDENTS/HEADS OF STATES AND VICE PRESIDENTS/CHIEF OF GENERAL STAFF | 2,300,000,000 | 2,300,000,000 | – |
| PAYMENT OF OUTSTANDING TERMINAL BENEFITS OF NIGERIA AIRWAYS EX-WORKERS | 5,750,380,668 | 5,750,380,668 | – |
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