By Ogenyi Ogenyi, Uyo
The National Pension Commission, PenCom, has said that plans are underway to reintroduce gratuity for civil servants, to compliment the current contributory pension scheme.
This is even as pension assets in the country have grown to over ₦25 trillion with regular monthly pensions for over 552,000 retirees and lump sum benefits for an additional 291,735 retirees.
Direction General of Pencom Ms Omolola Oloworaran made this known at a Sensitization Workshop on the Workings of the Contributory Pension Scheme (CPS). jointly convened by the Commission and the National Salaries, Incomes and Wages Commission (NSIWC) for Pension Desk Officers in the South South in Uyo on Wednesday.
Oloworaran, who was represented by Pencim Director, Contribution and Bond Redemption Department Mr Usman Musa said the move would be one of the key interventions meant to improve the scheme and make the lives of pensioners better
“Working with the Office of the Head of the Civil Service, a framework has been developed to restore gratuity benefits for federal workers under CPS, in line with Section 4(4) of the PRA 2014.
“We are also enhancing pensions for over 241,000 retirees, representing 80% of those under Programmed Withdrawal. Monthly pensions rose from ₦12.157 billion to ₦14.837 billion, effective June 2025..” The DG explained.
Other interventions, she said would also include, “Zero Waiting Time for Pension Payments, FGN Bond Issuance for Pension Liabilities, Stronger Prudential Standards for Operators, Issuance of Five New Regulations under the Pension Revolution 2.0 initiative, including:Whistle Blowing Guidelines for Pension Fund Assets. Revised Regulation on Investment of Pension Fund Asset and , iIntroduction of Free Health Insurance for Retirees beginning later this year, starting with pensioners in lower-income categories, ensuring dignity and security beyond financial pensions.”
Oloworaran said rhat more than 844,000 retirees across both public and private sectors now enjoy retirement benefits that are steady, reliable, and transparent and, “that is why today’s engagement is so important. It gives us an opportunity to listen, explain, and build confidence together.
The nationwide sensitization workshop across all six geopolitical zones the DG explained was meant to deepen trust among federal employees and pensioners and part of PenCom’s commitment to building the capacity of stakeholders.
“It will therefore provide practical solutions and clarity on the modalities for the upcoming 2026 retiree enrolment exercise and the planned one-off enrolment of all employees of treasury-funded MDAs entitled to accrued pension rights.” She said.
The commission in addition she stated have developed a new, more efficient Enrolment Application that will provide a user-friendly and seamless experience for all stakeholders in the chain of processing and payment of retirees’ benefits.
“Over the last two decades, the Contributory Pension Scheme has rewritten Nigeria’s pension story. We have moved from an era defined by unpaid entitlements and uncertainty to a new order anchored on transparency, sustainability, and inclusiveness.
‘Today, more than 10 million Nigerians from public service employees to private sector workers, and even artisans and the self-employed under the Personal Pension Plan, are covered under the CPS.
“Looking ahead, esteemed stakeholders, the prospects are bright. With your continued partnership, PenCom will:
Diversify pension asset investments to improve returns,strengthen governance and oversight, expand coverage to millions more Nigerians, particularly in the informal sector and enhance retiree welfare, including health and gratuity buffers.” The DG concluded.
In his remarks, Chairman, National Salaries, Incomes and Wages Commission (NSIWC), Mr Ejpo Nta said the country had introduced far reaching reforms in pension administration and management to ensure prompt payment of pension to retirees.
Nta, who was represented by Mr Akin Abe, Head of Compensation Department lauded the federal government for regular payment of pensions and ensuring that retirees could maintain their standard of living and prevent them from being a burden on their families or the government.
Goodwill messages were presented by the National Orientation Agency and the representative of the desk officers in South South Mrs Eno Nyong.
