FG disburses additional N1.1bn benefits to 175 retirees

The Federal Government has begun disbursing an additional N1.1bn in exit benefits to 175 retiring civil servants, 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 took effect from January 1, 2026.

The scheme provides an additional financial benefit to eligible Federal Government employees upon retirement, separate from their pension benefits. The commission noted that federal civil servants who have served for at least 10 years are entitled to an exit benefit equivalent to 100 per cent of their total annual emolument. The implementation of this scheme was highlighted as a significant development under the Contributory Pension Scheme, aiming to provide retirees with benefits beyond the funds accumulated in their Retirement Savings Accounts during active service.

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