The Federal Government under President Bola Ahmed Tinubu has cleared all outstanding pension arrears under the Contributory Pension Scheme (CPS) and announced plans to reintroduce gratuity payments for retirees.
According to the National Pension Commission (PenCom), the payment of accrued rights owed to retired workers has been fully settled, marking a major breakthrough in the administration’s commitment to workers’ welfare and social security reform.
As part of the new measures, PenCom disclosed that plans are underway to reintroduce gratuity for civil servants retiring under the CPS. The proposal would allow retirees to receive a one-time gratuity equivalent to 100 percent of their last annual gross salary, to be paid in the same month of retirement.
The move follows the approval of a ₦758 billion pension bond by the Tinubu administration to clear long-standing pension liabilities inherited from previous years.
PenCom has also launched “Pension Revolution 2.0,” a comprehensive reform initiative aimed at improving transparency, efficiency, and inclusiveness in the pension management system.
Officials explained that, going forward, retirees will begin receiving their benefits promptly upon retirement, eliminating the long delays that had previously caused hardship for many.
The Tinubu administration reaffirmed that these reforms reflect its dedication to restoring dignity to Nigeria’s workforce and ensuring a sustainable, fair, and transparent pension system for all.
