The military's statement warned that the protest could lead to the breakdown of law and order.
In a statement issued by the establishment on Tuesday, September 12, organisers were advised to not go ahead with the protest without first obtaining a legal permit from the police.
It warned that failure to do this would lead to the "breakdown of law, order and breach of the peace."
The statement went further to caution the group to reconsider the protest and explore other channels to express their grievances instead.
It read, "Objectively, the Defence Headquarters hereby advice the group of military pensioners involved in this plan, to desist and remain law abiding.
"The group is further adjured to explore the available channels of seeking redress through the appropriate organs/establishments of ex-servicemen and Armed Forces of Nigeria.
"This is for the information and necessary action of all military pensioners. It is equally for the awareness of the general public."
The protest, tagged 'Liberation', is set to go ahead on Wednesday in Abuja.