{
  "id": 7657683,
  "title": "FG Kicks off Payment of Additional Exit Benefits Scheme to Retirees",
  "url": "https://urgent.news/2026/09/15/fg-kicks-off-payment-of-additional-exit-benefits-scheme-to-retirees",
  "topic": "world",
  "section": "World",
  "published": "2026-09-15T23:11:00.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/09/16/fg-kicks-off-payment-of-additional-exit-benefits-scheme-to-retirees/"
  },
  "original_language": "en",
  "account": "The Nigerian federal government has begun distributing Additional Exit Benefits to retirees from Treasury Funded Ministries, Departments and Agencies (MDAs). The National Pension Commission (PenCom) announced this in a media statement. So far, the government has paid around N1.1 billion to 175 retirees who left federal service between January and August 2026. This payment is part of the Federal Government Exit Benefit Scheme (EBS), approved by the Federal Executive Council and effective since January 2026. The scheme offers extra financial assistance to federal employees upon retirement, in addition to their pension benefits under the Contributory Pension Scheme (CPS). Employees who have served for at least 10 years are eligible for an Exit Benefit equal to 100% of their total annual salary. This marks a significant development for the CPS, as efforts are being made to provide more benefits to retirees beyond their accumulated retirement savings. The government's leadership in offering additional benefits to retirees is seen as a model for other employers to follow. To ensure the successful implementation of the scheme, the 2026 budget allocated N32.90 billion, with N12.3 billion already released into the designated Exit Benefit Scheme Account at the Central Bank of Nigeria. PenCom is working alongside the Office of the Head of the Civil Service of the Federation, Office of the Accountant General of the Federation, Pension Fund Administrators, and other stakeholders to streamline the processing and payment of these benefits.",
  "summary": "Ebere Nwoji The federal government has commenced payment of Additional Exit Benefits to retirees of Treasury Funded Ministries, Departments and Agencies (MDAs). This was disclosed by the National Pension Commission",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}