The Federal Government has eliminated a 21-month backlog in accrued pension rights for enrolled federal employees, with entitlements now funded through December 2029, the National Pension Commission (PenCom) has said.
PenCom Director-General Omolola Oloworaran announced the development on Wednesday, November 11, 2026, during her keynote address at the 2026 Pension Correspondents Association of Nigeria Conference in Abuja. She was represented by PenCom's Head of Corporate Communications, Ibrahim Buwai.
Oloworaran stated that the government has moved from owing 21 months of accrued pension rights to holding a 41-month funding surplus. The surplus means federal employees who have not yet retired but have enrolled in the Contributory Pension Scheme have had their accrued rights settled through December 2029.
She added that retirement benefits are now processed within a maximum of 48 hours from retirement, describing delays in pension payments as a thing of the past.
The PenCom chief also highlighted the launch of the PenCare health insurance programme and the N52,500 minimum pension guarantee announced by President Bola Tinubu on Tuesday. PenCare is funded by pension operators and PenCom and is designed to reduce retirees' medical expenses, freeing up more of their monthly pensions for other needs. Its board of trustees is chaired by Muhammad Ahmad, the commission's pioneer Director-General.
Under the minimum pension guarantee, eligible retirees receiving less than N52,500 will have their pensions increased, with some beneficiaries already receiving payment alerts during Tuesday's launch.
Oloworaran further disclosed that the Federal Government has approved additional exit benefits equivalent to 100% of terminal emoluments for eligible retirees, effective January 1, 2026. Eligible retirees in 2026 who submitted their documents have already received payments.
The Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), Tolulope Odunaiya, represented by Head of Corporate Communications Olugbenga Ajayi, said the directorate has introduced remote verification and enhanced life-status checks for pensioners under the Defined Benefits Scheme. The initiative allows pensioners to complete verification without travelling to designated locations, including those in the United States, Uganda, and rural communities. Registration has also commenced for PTAD's proposed health insurance programme.
