The Federal Government has commenced payment of additional exit benefits to 175 retirees of the Federal Public Service, with about N1.1 billion already disbursed.
The National Pension Commission disclosed that the beneficiaries retired between January 1 and August 31, 2026, under the Federal Government Exit Benefit Scheme, which took effect on January 1, 2026.
The scheme provides eligible federal civil servants who have served for at least 10 years with an additional exit benefit equivalent to 100 per cent of their total annual emolument at retirement. The payment is separate from their regular pension benefits under the Contributory Pension Scheme.
PenCom said N32.90 billion was provided in the 2026 Appropriation for the scheme, while N12.3 billion has so far been released into a dedicated account with the Central Bank of Nigeria.
The commission said it is working with relevant government agencies and Pension Fund Administrators to process payments to eligible retirees.
PenCom also clarified that the additional exit benefit does not replace the existing pension benefits available to retirees.
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