PenCom Lists Pension Reforms, Says Tinubu Administration Cleared ₦758bn Liabilities

The National Pension Commission says the Federal Government has approved a ₦758 billion intervention to clear inherited pension liabilities, with payments reportedly reaching 957,045 beneficiaries. PenCom Director-General Omolola Oloworaran said some of the outstanding obligations dated back to 2007. She said Pension Boost 1.0 raised monthly payments for more than 241,000 retirees from ₦12.15 billion to ₦14.83 billion. PenCom also reviewed pensions for 2,116 retirees under the defunct NSITF, with arrears of ₦8.7 billion paid to affected beneficiaries. According to the commission, retirement-benefit approvals for federal workers now take up to 48 hours, while a new exit-benefit scheme began in January 2026. PenCom also announced plans to pilot PenCare, a free essential healthcare programme for 30,000 low-income retirees.

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