PenCom Reintroduces Gratuity for Federal Civil Servants, Enhances Monthly Pensions
The Pension Commission (PenCom) has reintroduced gratuity for federal civil servants under the Contributory Pension Scheme (CPS). During a Stakeholders Conference in Abuja, PenCom's Omolola Oloworaran announced the restoration of gratuity benefits in line with the Pension Reform Act.
The Acting Commissioner Technical, Hafiz Kawu Ibrahim, highlighted the enhancement of monthly pensions for retirees by 80%, effective June 2025. Additionally, retirees will now have immediate access to their pension payments upon retirement, aligning with the monthly salary release.
This move aims to improve the welfare of federal employees and pensioners, ensuring a more secure retirement plan.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
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