PenCom Sets Deadline for MDAs on Retiree Details Submission

The National Pension Commission (PenCom) has issued a directive requiring all Ministries, Departments, and Agencies (MDAs) to submit comprehensive details of employees eligible for retirement by July 6, 2026. This submission is part of the preparations for the implementation of a newly approved exit benefit scheme, which will take effect retroactively from January 1, 2026.

The scheme is designed to provide a 100% payment of the final total annual emoluments for eligible retirees who have served a minimum of 10 years. Murtala M.

Modibbo, addressing heads of MDAs, emphasized the importance of accurate and complete submissions to ensure a smooth rollout of the scheme. The initiative is part of the Federal Government's efforts to enhance financial support for public servants amid rising inflation and living costs.

PenCom has already issued guidelines outlining eligibility requirements and payment procedures, and the scheme is expected to strengthen social protection for public servants.