The Federal Government has paid about N1.1 billion in additional exit benefits to 175 civil servants who retired from Treasury-funded ministries, departments and agencies (MDAs) between January 1 and August 31, 2026.
The National Pension Commission (PenCom) disclosed this on Friday, saying the payments were made under the Federal Government Exit Benefit Scheme (EBS).
PenCom said the scheme was approved by the Federal Executive Council (FEC) and became effective on January 1, 2026.
“The Scheme provides an additional financial benefit to Federal Government employees at retirement, alongside their pension benefits under the Contributory Pension Scheme (CPS),” the commission said.
According to PenCom, federal civil servants who have completed at least 10 years in service are entitled to an exit benefit equivalent to 100 percent of their total annual emolument.
The commission said N32.9 billion was allocated for the scheme in the 2026 Appropriation, while the Federal Government has so far released N12.3 billion into a dedicated exit benefit account with the Central Bank of Nigeria (CBN).
PenCom said approximately N1.1 billion from the released funds had been paid to the 175 retirees.
“The commencement of payment marks yet another watershed moment for the CPS as efforts are intensified at delivering more benefits to retirees beyond what they have accumulated in their Retirement Savings Accounts during their service period,” the commission said.
The pension regulator added that it was working with the Office of the Head of the Civil Service of the Federation, the Office of the Accountant-General of the Federation and Pension Fund Administrators (PFAs) to process the benefits.
PenCom said retirees seeking to access the benefit are required to submit their clearance letters and recent payslips to their respective PFAs.
