Commission delays ex-PHCN retirees’ next pension review till 2027

The National Salaries, Income and Wages Commission has announced that ex-employees of the defunct Power Holding Company of Nigeria (PHCN) will not receive another pension increase until January 1, 2027. This delay was prompted by a reassessment of records that revealed their eligibility for recent pension adjustments was mistakenly altered.

Initially, the retirees were included in the 10.66 percent and 12.5 percent pension increases implemented in 2015 and 2020, respectively. However, further investigation by the commission found that the last pension increase they received was in fact on June 1, 2016. The commission clarified that the next eligible pension increase will take effect from this date in 2027.