RismadarVoice Reporters
November 12, 2026
The Federal Government of Nigeria has cleared a 21-month backlog in accrued pension rights and provided advance funding for eligible federal workers’ retirement benefits through December 2029, according to the National Pension Commission (PenCom).
PenCom Director-General, Omolola Oloworaran, disclosed the development on Wednesday at the 2026 Pension Correspondents Association of Nigeria Conference in Abuja.
Represented by the commission’s Head of Corporate Communications, Ibrahim Buwai, Oloworaran said the government had moved from a 21-month funding deficit to a 41-month surplus.
She explained that accrued pension rights for enrolled federal employees who have yet to retire had been funded in advance through December 2029.
The PenCom chief also announced improvements in retirement benefit administration, saying eligible retirees could now receive their benefits within 48 hours of retirement.
She highlighted the launch of the ₦52,500 monthly minimum pension guarantee and the PenCare healthcare programme by President Bola Tinubu on Tuesday.
The minimum pension initiative is designed to increase payments for eligible retirees under the Contributory Pension Scheme whose monthly benefits fall below ₦52,500.
PenCom said 173,209 retirees were eligible for the programme, backed by a Pension Protection Fund exceeding ₦400 billion.
Oloworaran explained that PenCare would help reduce healthcare expenses for pensioners, allowing them to devote more of their retirement income to other essential needs.
She also disclosed that the Federal Government had approved additional exit benefits equivalent to 100 per cent of terminal emoluments for eligible retirees, effective January 1, 2026.
According to her, qualifying retirees who had submitted the required documentation had begun receiving payments.
Meanwhile, the Pension Transitional Arrangement Directorate announced improvements to its remote verification system, enabling pensioners under the Defined Benefits Scheme to complete verification without travelling to designated centres.
The Pension Fund Operators Association of Nigeria also called for responsible investment of pension assets in infrastructure, housing and productive sectors while protecting contributors’ funds.
Stakeholders further advocated simplified pension enrolment for informal-sector workers through digital platforms and Point of Sale terminals.
However, the Nigeria Union of Pensioners urged the government to extend the newly approved additional exit benefits to retirees who left service between 2004 and December 2025.
The union maintained that earlier retirees should also be considered in efforts to improve retirement security.
Although PenCom reported substantial progress, the advance funding applies specifically to accrued pension rights for enrolled federal employees and does not mean all pension liabilities nationwide have been settled.
