PenCom Says Federal Workers’ Accrued Pension Rights Are Funded Up to December 2029

The National Pension Commission (PenCom) says the Federal Government has cleared enrolled federal workers’ accrued pension rights up to December 2029. At a pension conference in Abuja, PenCom Director-General Omolola Oloworaran said funding had moved from a 21-month backlog to a 41-month surplus. She also said retirement pension payments are now processed within 48 hours, at most. Oloworaran highlighted the PenCare health insurance programme and a N52,500 minimum pension guarantee for eligible retirees whose monthly payments fall below that amount. She also said the government had approved additional exit benefits equal to 100 per cent of terminal emoluments for eligible retirees, effective January 1, 2026. Other announcements included remote verification for pensioners under the Defined Benefits Scheme and easier enrolment in the Personal Pension Plan. The Nigeria Union of Pensioners called for the new exit benefits to be extended to workers who retired between 2004 and December 2025.

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