The Office of the Accountant General of the Federation has released an additional N22bn to settle accrued pension rights for retirees in Ministries, Departments, and Agencies under the Contributory Pension Scheme.
In a statement by the National Pension Commission (PenCom), the N22bn will benefit retirees who left service between October 2023 and January 2024 and have been duly verified and enrolled.
The disbursement also includes accrued rights for deceased retirees verified within the same period.
“These funds were disbursed into the Retirement Benefits Bond Redemption Fund Account (domiciled) at the Central Bank of Nigeria.
“They are meant to settle accrued pension rights for verified retirees of Treasury-funded MDAs.
“Some deceased employees’ accrued rights are also covered. Funds have already been credited to their Retirement Savings Accounts via Pension Fund Administrators,” the pension regulator stated.
With this release, the total disbursed from the 2024 Appropriation for accrued pension rights now stands at N66bn.
PenCom urged the retirees to contact their Pension Fund Administrators (PFAs) to complete the necessary documentation and access their retirement benefits.