The Federal Government has disbursed approximately N1.1 billion in additional exit benefits to 175 retirees from Treasury-funded ministries, departments and agencies who left the federal public service between January 1 and August 31, 2026.
The National Pension Commission disclosed the payment in a statement on Friday, noting that it was made under the Federal Government Exit Benefit Scheme, which took effect on January 1, 2026. The Federal Executive Council approved the scheme to provide supplementary financial benefits to eligible federal employees at retirement, alongside the Contributory Pension Scheme.
PenCom stated that federal civil servants who have served for at least 10 years qualify for an exit benefit equal to 100% of their total annual emolument at retirement.
For the implementation of the scheme, N32.90 billion was provided in the 2026 Appropriation, while N12.3 billion has so far been released into the dedicated Exit Benefit Scheme Account maintained with the Central Bank of Nigeria. The commission stressed that the exit benefit is separate from the funds accumulated in a retiree's Retirement Savings Account under the Contributory Pension Scheme.
Eligible retirees are required to submit relevant documents, including clearance letters and recent payslips, to their Pension Fund Administrators. The PFAs verify the records before forwarding them to PenCom for further validation and approval. Once approved, the benefit is credited to the retiree's Retirement Savings Account through the PFA, which then transfers the full amount to the retiree's designated salary bank account.
PenCom said the payment process is being implemented in collaboration with the Office of the Head of the Civil Service of the Federation, the Office of the Accountant-General of the Federation, PFAs and other relevant stakeholders.
The commission has also introduced measures to improve pension administration. In February 2026, it launched the Data Recapture Self-Service Platform, known as PENCAP, allowing Retirement Savings Account holders to update their biodata and biometric information remotely. The platform was designed to address incomplete pension records, delays in accessing benefits and congestion at PFA offices.
