FG clears pension backlog, prefunds benefits till 2029
The Federal Government has cleared a 21-month pension backlog and prefunded accrued pension rights for enrolled federal workers until December 2029. Read More: https://punchng.com/fg-clears-pension-backlog-prefunds-benefits-till-2029/
The National Pension Commission (PenCom) has announced that the Federal Government has resolved a 21-month pension funding backlog and now has a 41-month surplus. This means that pension rights for enrolled federal workers will be funded until December 2029, reversing the previous arrears. PenCom Director-General Omolola Oloworaran made these disclosures at the 2026 Pension Correspondents Association of Nigeria Conference in Abuja.
The move eliminates delays in pension payments, with benefits now processed within 48 hours from retirement. Additionally, President Bola Tinubu launched the PenCare health insurance programme and a minimum pension guarantee of N52,500 for eligible retirees.
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