By Oluwakemi Kindness
The National Pension Commission (PenCom) says it has recovered ₦36.6bn from defaulting employers and paid ₦8.7bn in pension arrears to Nigeria Social Insurance Trust Fund (NSITF) pensioners as part of efforts to strengthen retirement security.
The commission’s Director-General, Omolola Oloworaran, disclosed this on Tuesday at the commission’s 2026 media conference, themed “From Reform to Reality: Renewed Hope, Pension Security for Nigerians.”
She outlined measures to improve pension compliance, speed up retirement benefit payments and expand social protection for retirees.
Oloworaran said cumulative recoveries from defaulting employers stood at ₦36.6bn as of July 2026, adding that recoveries recorded in the first seven months of the year had already surpassed the record set in 2025.
She warned employers against deducting pension contributions from workers’ salaries without remitting the funds into their Retirement Savings Accounts.
“A deduction on a person that does not reach a retirement savings account is a breach of trust and a breach of the law,” she said, describing the practice as a criminal offence.
The PenCom chief vowed to pursue outstanding contributions and hold defaulting employers accountable, urging employers and state governments to meet their pension obligations.
“We will find what is owed, we will recover it, and we will hold those responsible to account,” she said.
On pension welfare, Oloworaran said ₦8.7bn has been paid in arrears to NSITF pensioners following a review of benefits that had remained unchanged for 21 years.
She said the review had substantially increased monthly payments for affected pensioners, with one retiree’s pension rising from ₦18,000 to ₦206,000. The arrears were also paid in full, according to her.
PenCom is also preparing to introduce PenCare, a healthcare programme designed to provide free medical services to eligible retirees, particularly vulnerable pensioners.
The initiative forms part of broader efforts to address healthcare costs among retirees and strengthen social protection after years of service.
Oloworaran also highlighted the Minimum Pension Guarantee, which is intended to provide a minimum level of pension income for retirees. Further details on its implementation and eligibility will be important to establishing how pensioners will benefit.
The commission has also reduced the approval time for retirement benefits to 48 hours, setting a service standard for Pension Fund Administrators (PFAs) to speed up access to retirement funds.
The shorter approval timeline is intended to reduce delays faced by retirees processing their benefits and improve the efficiency of pension administration.
Oloworaran said the measures were part of efforts to translate pension reforms into practical benefits for workers and retirees through stronger enforcement, faster payments and improved welfare support.
The initiatives place emphasis on ensuring employers remit contributions, retirees receive benefits promptly and pensioners have better access to income and healthcare support.
