The National Pension Commission has announced that the Federal Government has issued an extra N22 billion via the Office of the Accountant-General of the Federation for accumulated pension rights of retirees in MDAs under the Contributory Pension Scheme.
PenCom announced on its Instagram page on Tuesday night that it was for people who retired between October 2023 and January 2024.
“These money were transferred to the Retirement Benefits Bond Redemption Fund Account (domiciled) at the Central Bank of Nigeria. “They are intended to settle accrued pension rights for verified retirees of Treasury-funded MDAs,” the pension regulator stated.
This payout will benefit retirees who have been confirmed and registered between October 2023 and January 2024. Some dead workers’ accumulated rights are also covered. Funds have already been credited to their retirement savings accounts via pension fund administrators.”
With this distribution, the total amount distributed from the 2024 appropriation for accrued pension entitlements stands at N66 billion.
Retirees are required to contact their PFAs to complete the necessary documentation to access their retirement benefits.
Also, PenCom said it has directed PFAs to fast-track the payment process for all verified retirees.
