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FG Clear N758bn Pension Debt For 957000 Beneficiaries
By: Kofoworola Olayinka
Federal Gornment don clear all inherited pension debts wey date back to 2007 through N758bn intervention bond, giving financial relief to 957,045 pension beneficiaries across Naija.
PenCom Director General, Omolola Oloworaran, announce dis on Tuesday during di 2026 PenCom Media Conference for Lagos, saying di payment don end years of delayed pension benefits.
She say federal workers wey go retire up to December 2029 don already get dia accrued pension rights credited to dia Retirement Savings Accounts, while benefit processing time don reduce from up to 21 months to just 48 hours.
PenCom also say new Zero Waiting Time Policy go help make retirees receive dia benefits without financial gaps, while Pension Boost 1.0 don increase monthly payments to over 241,000 retirees from N12.15bn to N14.83bn.
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