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•Extends pension enrolment to December
From Adanna Nnamani, Abuja
The Federal Government has commenced the payment of additional exit benefits to retiring civil servants, with 175 retirees already receiving about N1.1 billion under the Federal Government Exit Benefit Scheme (EBS).
The National Pension Commission (PenCom), which is supporting the implementation of the scheme, said the payment covered retirees of Treasury-funded Ministries, Departments and Agencies (MDAs) who exited the Federal Public Service between January 1 and August 31, 2026.
The Exit Benefit Scheme, approved by the Federal Executive Council and effective from January 1, 2026, provides an additional financial benefit to Federal Government employees at retirement, alongside their pension benefits under the Contributory Pension Scheme (CPS).
“The Federal Government’s decision to introduce the Scheme provides retiring Federal Civil Servants with additional financial support at a significant point in their lives and reinforces the importance of ensuring that workers have adequate resources when they leave active service,” PencCom said.
Under the scheme, Federal Civil Servants who have served for at least 10 years are entitled to an exit benefit equivalent to 100 per cent of their total annual emolument at retirement.
The 2026 Appropriation provided N32.9 billion for implementation of the scheme, while the Federal Government has so far released N12.3 billion into the dedicated Exit Benefit Scheme Account maintained with the Central Bank of Nigeria (CBN).
PenCom said it is working with the Office of the Head of the Civil Service of the Federation (OHCSF), Office of the Accountant General of the Federation (OAGF), Pension Fund Administrators (PFAs) and other stakeholders to facilitate the processing and payment of the benefits.
It explained that retirees are required to submit documents, including their clearance letters and recent payslips, to their PFAs for verification. The PFAs then forward the records to PenCom for validation and approval.
Upon approval, the exit benefit is credited to the retiree’s Retirement Savings Account (RSA) through the PFA, after which the PFA transfers the full amount to the retiree’s designated salary bank account.
PenCom stressed that the payment is an additional benefit and exists alongside the normal retirement benefits payable from retirees’ RSA balances.
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Meanwhile, the Commission has extended the deadline for the ongoing mandatory One-Time Online Verification and Enrolment Exercise for employees of Treasury-funded MDAs who are entitled to accrued pension rights.
The exercise, which commenced in February 2026 and was initially scheduled to end on July 31, 2026, has now been extended to December 31, 2026.
The extension followed requests from MDAs for additional time for eligible employees to participate in the online enrolment process.
PenCom said low participation necessitated the extension, noting that as of July 2026, MDAs had uploaded 62,320 records of active employees and retirees, while only 31,099 employees had completed the enrolment process.
The figures are below the estimated 150,000 active Federal Government employees entitled to accrued pension rights.
The Commission therefore urged eligible employees who are yet to enrol, as well as those who started but have not completed the process, to use the additional time to complete the exercise.
The One-Time Online Verification and Enrolment Exercise is part of efforts to determine and settle pension liabilities inherited from the Defined Benefit Scheme (DBS), which preceded the Contributory Pension Scheme introduced in 2004.
Under the Pension Reform Act 2014, employees who transited to the CPS are entitled to accrued pension rights, representing pension and gratuity benefits earned under the DBS from their date of first appointment up to June 30, 2004.
The exercise is being conducted digitally through PenCom’s Contributions and Bond Redemption Application (COBRA), which facilitates data capture, validation and processing.
PenCom said early completion of the enrolment would facilitate the determination of accrued pension rights and enable the Federal Government to make the necessary funding arrangements.
The Commission also urged Treasury-funded MDAs, Pension Desk Officers and PFAs to support eligible employees and ensure that the enrolment exercise is completed before the new December 31 deadline.
