The National Pension Commission (PenCom) has announced that over 844,000 retirees across Nigeria’s public and private sectors are currently receiving consistent and transparent pension payments under the Contributory Pension Scheme (CPS).
PenCom’s Director-General, Ms. Omolola Oloworaran, disclosed this on Friday in Kano during a sensitisation workshop for pensioners drawn from different geo-political zones.
The event, jointly organised by PenCom and the National Salaries, Incomes and Wages Commission (NSIWC), focused on deepening awareness about the workings of the CPS.
Oloworaran, represented by the Commissioner, Technical Department, Alhaji Hafizu Kawu, reaffirmed the commission’s commitment to prompt and full payment of retirement benefits in line with the Pension Reform Act 2014.
She highlighted the resilience of the CPS, noting that pension assets had surpassed ₦25 trillion as of September 2025, with funds strategically invested to support national growth while safeguarding contributors’ savings.
According to her, the scheme currently covers over 10 million Nigerians, including employees in both formal and informal sectors through the Personal Pension Plan.
She explained that more than 552,000 retirees receive monthly pensions, while another 291,735 have been paid lump-sum benefits — bringing the total number of retirees benefiting under the scheme to over 844,000.
The DG said PenCom’s ongoing reforms, including the Pension Boost 1.0 initiative, had raised monthly pensions for 241,000 retirees, while President Bola Tinubu’s approval of ₦758 billion in Federal Government bonds would clear outstanding pension arrears dating back to 2007.
She commended the government for its support, describing the intervention as a timely effort to enhance retirees’ welfare and strengthen confidence in the pension system.
The Director of Compensation at the NSIWC, Mr. Akin Abe, also pledged continued collaboration to ensure regular pension adjustments and equitable benefits for retirees.
Meanwhile, the National Chairman of the National Union of Contributory Pensioners, Mr. Sylva Nwaiwu, urged greater public sensitisation to dispel misconceptions about the CPS and encourage wider participation.
Oloworaran reaffirmed that PenCom remains steadfast in protecting retirees’ interests, promoting transparency, and ensuring that pensioners continue to enjoy steady, reliable, and dignified benefits in retirement.