PenCom Disburses N758bn Pension Bond

The National Pension Commission, PenCom, has commenced the disbursement of the N758 billion bond approved by the Federal Government to clear outstanding pension liabilities across the country.
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‎The Director-General of PenCom, Ms Omolola Oloworaran, disclosed this  while presenting her 365-day scorecard at the Pension Revolution Summit held in Abuja.
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‎She confirmed that the bond, approved by President Bola Tinubu in February 2025, has been fully cashed, with over N600 billion already disbursed to retirees to settle long-standing pension arrears.
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‎Oloworaran disclosed that Nigeria’s total pension assets have grown to about N27 trillion, attributing the growth to wide-ranging reforms under the Pension Revolution 2.0 agenda.
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‎She said the reforms, introduced over the past year, focused on rebuilding trust in the pension system, expanding coverage, strengthening governance and advancing the contributory pension scheme.
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‎To improve benefit adequacy, the Commission introduced the Pension Post-1.0 framework, which has increased monthly pension payments to CPS retirees by N2.68 billion since June 2025.
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‎On operational efficiency, she said PenCom has automated key pension processes, including pension plan certificates, benefit processing and contribution remittance platforms, to improve service delivery.
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‎The Director-General also announced the restructuring of the Micro Pension Plan into the Personal Pension Plan to expand coverage among informal sector workers through simplified onboarding and digital enrollment.
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‎She disclosed that between June 2012 and September 2025, the Commission recovered N32.27 billion from defaulting employers, while N2.06 billion was recovered from 49 employers in the third quarter of 2025 alone.
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‎Oloworaran noted that only eight states have fully complied with the contributory pension scheme, adding that N132 billion out of the N338 billion owed to the Nigeria Police pensioners has so far been paid.
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‎PR/Umbwanko Baba/ Ene Idoko
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