Relief for Retirees as PenCom Vows to Clear All Gratuity Arrears by December

There is renewed hope for Nigerian retirees as the National Pension Commission (PenCom) has assured that all outstanding pension arrears and gratuities owed to retirees will be fully settled by December 2025, once the ₦758 billion bond approved by the Federal Government matures.

The assurance was given by PenCom Director-General, Ms. Omolola Oloworaran, during a two-day sensitisation workshop in Owerri, organised in collaboration with the National Salaries, Incomes and Wages Commission.

Represented by Mr. Samuel Uwandu, National Commissioner, Inspectorate Department of PenCom, Oloworaran said the bond would soon be converted to cash to enable the Commission pay all outstanding entitlements.

“Thanks to President Bola Tinubu, who has given PenCom a bond of ₦758 billion. We are working towards cashing it before the end of the year. The bond will be converted into cash, all the gratuities will be paid in full by December, and everyone owed arrears will be fully settled,” she assured.

According to her, the initiative underscores President Tinubu’s commitment to improving retirees’ welfare and ensuring that public servants receive their due benefits after years of dedicated service.

She also disclosed that PenCom had opened discussions with the Federal Government on the possibility of raising retirees’ benefits from 75 percent to 100 percent of their final salaries at retirement.

“What this means is that whatever a pensioner earned as salary upon retirement would be what they continue to receive in full, or at least 75 percent of it,” she explained. “Although PenCom is an intermediary, we have contacted the President, and we believe this adjustment can be effected through the National Assembly.”

The National Secretary of the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS), Bisan Olufemi, commended both the Federal Government and the National Salaries, Incomes and Wages Commission for their recent efforts to clear accumulated pension arrears.

He appreciated that accrued pension payments had been made up to October, and praised PenCom for promising to ensure that future retirees receive their benefits immediately after retirement.

Similarly, a retiree, Mr. Chris Duru, thanked the organisers for the sensitisation programme and suggested it be held annually to keep retirees updated on pension reforms and entitlements.

The two-day workshop drew participation from over 100 retirees across the five South-East states, focusing on pension rights, benefit updates, and welfare initiatives for retirees.

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