FG disburses additional N1.1bn benefits to 175 retirees
The Federal Government has disbursed N1.1bn in additional exit benefits to 175 retirees under a new scheme separate from their regular pension benefits. Read More: https://punchng.com/fg-disburses-additional-n1-1bn-benefits-to-175-retirees/
The Federal Government has begun disbursing additional exit benefits to 175 retiring civil servants, totaling about N1.1bn, according to a statement from the National Pension Commission (PenCom). This payment is under the Federal Government Exit Benefit Scheme, which was approved by the Federal Executive Council and became effective from January 1, 2026.
PenCom explained that the scheme offers an additional financial benefit to eligible Federal Government employees upon retirement, separate from their pension benefits under the Contributory Pension Scheme. The commission further disclosed that N32.90bn was provided in the 2026 Appropriation for the implementation of the Exit Benefit Scheme, with N12.3bn released so far into a dedicated Exit Benefit Scheme Account maintained with the Central Bank of Nigeria.
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