The Federal Government has cleared its outstanding pension obligations to enrolled federal workers, with their accrued retirement benefits now funded up to December 2029, the National Pension Commission (PenCom) has announced.
PenCom Director-General, Omolola Oloworaran, disclosed this on Wednesday while delivering her keynote address at the 2026 Pension Correspondents Association of Nigeria Conference in Abuja, Naija News reports.
The development is seen as a major turnaround in the government’s pension funding, swiftly switching from a 21-month backlog to a 41-month surplus.
Oloworaran, who was represented by the commission’s Head of Corporate Communications, Ibrahim Buwai, said the latest development means the government has paid the accrued pension rights of enrolled federal workers who are yet to retire up to December 2029.
She said, “We are moving from a position where we had, where our full pension rights were 21 months in arrears, to where we are today, 41 months in surplus.
“And 41 months in surplus means that Federal Government employees who have not yet retired and who have enrolled have had their accrued pension rights paid up to December 2029.”
The PenCom boss also said delays in pension payments had largely become a thing of the past, noting that retirees now receive their benefits within 48 hours of retirement.
According to her, the commission has also recorded progress with the launch of the PenCare health insurance programme and the ₦52,500 minimum pension guarantee by President Bola Tinubu on Tuesday.
She explained that the PenCare programme would help reduce the medical expenses of retirees, allowing them to use more of their monthly pension payments to meet other needs.
Oloworaran said the programme was being funded by pension operators and PenCom, with an independent board of trustees chaired by the commission’s pioneer Director-General, Muhammad Ahmad.
On the minimum pension guarantee, she explained that retirees who currently receive less than N52,500 would have their monthly payments increased to the approved amount, subject to eligibility.
She added that some beneficiaries had already received payment alerts during Tuesday’s launch.
The PenCom Director-General further revealed that the Federal Government had approved additional exit benefits worth 100 per cent of terminal emoluments for eligible retirees, effective January 1, 2026.
She said some retirees who left service in 2026 and submitted the required documents had already received their payments.
Meanwhile, the Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), Tolulope Odunaiya, said the agency had introduced remote verification to make life easier for pensioners under the Defined Benefits Scheme.
Odunaiya, represented by PTAD’s Head of Corporate Communications, Olugbenga Ajayi, said the new system would allow pensioners to complete their verification from different parts of the world without travelling to Nigeria.
Oloworaran, who was represented by the commission’s Head of Corporate Communications, Ibrahim Buwai, said the latest development means the government has paid the accrued pension rights of enrolled federal workers who are yet to retire up to December 2029.
She said, “We are moving from a position where we had, where our full pension rights were 21 months in arrears, to where we are today, 41 months in surplus.
“And 41 months in surplus means that Federal Government employees who have not yet retired and who have enrolled have had their accrued pension rights paid up to December 2029.”
The PenCom boss also said delays in pension payments had largely become a thing of the past, noting that retirees now receive their benefits within 48 hours of retirement.
According to her, the commission has also recorded progress with the launch of the PenCare health insurance programme and the ₦52,500 minimum pension guarantee by President Bola Tinubu on Tuesday.
She explained that the PenCare programme would help reduce the medical expenses of retirees, allowing them to use more of their monthly pension payments to meet other needs.
Oloworaran said the programme was being funded by pension operators and PenCom, with an independent board of trustees chaired by the commission’s pioneer Director-General, Muhammad Ahmad.
On the minimum pension guarantee, she explained that retirees who currently receive less than N52,500 would have their monthly payments increased to the approved amount, subject to eligibility.
She added that some beneficiaries had already received payment alerts during Tuesday’s launch.
The PenCom Director-General further revealed that the Federal Government had approved additional exit benefits worth 100 per cent of terminal emoluments for eligible retirees, effective January 1, 2026.
She said some retirees who left service in 2026 and submitted the required documents had already received their payments.
Meanwhile, the Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), Tolulope Odunaiya, said the agency had introduced remote verification to make life easier for pensioners under the Defined Benefits Scheme.
Odunaiya, represented by PTAD’s Head of Corporate Communications, Olugbenga Ajayi, said the new system would allow pensioners to complete their verification from different parts of the world without travelling to Nigeria.
