PenCom Unveils ₦758bn Pension Intervention and Launches PenCare Health Initiative

The National Pension Commission has announced major reforms to strengthen Nigeria’s pension system. A new ₦758 billion intervention bond has cleared more than two decades of outstanding pension liabilities. Retirees under the Contributory Pension Scheme received a landmark PAY increase, and NSITF pensioners saw their first review in 21 years—some getting over 1,000% boosts. Public servants in Treasury-funded MDAs now benefit from a new end-of-service scheme and a Minimum Pension Guarantee. Within three months, the PenCare Health Initiative will begin offering healthcare support to pensioners alongside their monthly payments. These measures aim to improve financial security and wellbeing for Nigeria’s retired workforce.

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