Federal Government Launches Exit Benefit Scheme for Retirees

The Federal Government has begun the payment of additional exit benefits to retiring civil servants, with 175 retirees receiving about N1.1 billion under the Federal Government Exit Benefit Scheme (EBS). This initiative, supported by the National Pension Commission (PenCom), covers retirees from Treasury-funded Ministries, Departments, and Agencies (MDAs) who left the Federal Public Service between January 1 and August 31, 2026.

The Exit Benefit Scheme, which was approved by the Federal Executive Council and became effective on January 1, 2026, offers an additional financial benefit equivalent to 100% of the total annual emolument at retirement for Federal Civil Servants with at least 10 years of service. The 2026 Appropriation allocated N32.9 billion for the scheme, with N12.3 billion already released into the dedicated Exit Benefit Scheme Account at the Central Bank of Nigeria (CBN).

PenCom collaborates with various stakeholders to ensure the processing and payment of these benefits.