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