The Federal Government has commenced the payment of additional exit benefits to retirees of Treasury-funded Ministries, Departments and Agencies (MDAs).
The National Pension Commission (PenCom) disclosed this in a statement issued in Abuja on Friday, saying about ₦1.1 billion had so far been paid to 175 retirees who exited the Federal Public Service between January 1 and August 31.
The payments are being made under the Federal Government Exit Benefit Scheme (EBS), which was approved by the Federal Executive Council (FEC) and took effect from January 1.
Under the scheme, eligible retirees receive an additional financial benefit alongside their regular pension payments under the Contributory Pension Scheme (CPS).
PenCom said federal civil servants with at least 10 years of service are entitled to an exit benefit equivalent to 100 per cent of their total annual emolument.
The commission said the scheme was introduced to provide additional financial support to retirees beyond the benefits available in their Retirement Savings Accounts (RSAs).
According to PenCom, the Federal Government provided ₦32.90 billion in the 2026 Appropriation for implementation of the Additional Exit Benefits Scheme.
It said ₦12.3 billion had so far been released into the dedicated exit benefit scheme account maintained with the Central Bank of Nigeria (CBN).
PenCom said it was supporting the implementation of the scheme in collaboration with relevant government offices, Pension Fund Administrators (PFAs) and other stakeholders.
The commission is working with the Office of the Head of the Civil Service of the Federation (OHCSF) and the Office of the Accountant-General of the Federation to facilitate the verification, processing and payment of benefits to eligible retirees.
PenCom said retirees are required to submit relevant documents, including clearance letters and recent payslips, to their respective PFAs.
The PFAs will verify the retirees’ records before forwarding the relevant information to PenCom for further validation and approval.
Once approved, the exit benefit will be credited to the retiree’s RSA through the PFA.
The PFA will subsequently transfer the full amount to the retiree’s designated salary bank account.PenCom clarified that the exit benefit is an additional payment and does not replace the regular pension benefits drawn from retirees’ RSA balances.
The commission said the maiden payment of ₦1.1 billion to 175 retirees marked the official commencement of the scheme for retirees of the Federal Government.
Consequently, subsequent retirees of Treasury-funded MDAs who meet the eligibility requirements will be entitled to an additional exit benefit equivalent to 100 per cent of their total annual emolument.
The Federal Government said the initiative was designed to provide additional financial support to civil servants after retirement and ensure that workers have adequate financial resources after leaving active service.
PenCom said it remained committed to working with relevant stakeholders to ensure the smooth implementation of the scheme and prompt payment of benefits to eligible retirees.
