By Oluwakemi Kindness
The Federal Government has started paying additional exit benefits to retiring civil servants, with about ₦1.1 billion already paid to 175 retirees.
The National Pension Commission (PenCom) disclosed this in a statement on Friday, saying the beneficiaries exited the Federal Public Service between January 1 and August 31, 2026.
Under the Federal Government Exit Benefit Scheme, eligible civil servants who have served for at least 10 years will receive an additional benefit equal to 100 per cent of their total annual emolument.
The benefit comes in addition to their pension benefits under the Contributory Pension Scheme and funds in their Retirement Savings Accounts.
The Federal Government budgeted ₦32.90 billion for the scheme in 2026 and has so far released ₦12.3 billion into the dedicated Exit Benefit Scheme Account with the Central Bank of Nigeria.
PenCom said retirees must submit their clearance letter and recent payslips to their Pension Fund Administrators (PFAs).
The PFAs verify the records and forward them to PenCom for validation and approval.
Once approved, the benefit goes into the retiree’s Retirement Savings Account before the PFA transfers the full amount to the retiree’s designated salary bank account.
PenCom said the scheme provides retiring Federal Civil Servants with additional financial support as they leave active service.
The commission is working with the Office of the Head of the Civil Service of the Federation, the Office of the Accountant General of the Federation, PFAs and other stakeholders to facilitate payment of the benefits.
