The National Pension Commission (PenCom), has promised retirees in the country that all their outstanding arrears covering both pension payments and gratuities will be fully paid by December this year.
The commission’s Director‑General, Omolola Oloworaran, made the pledge at a two‑day Sensitisation Workshop jointly organised by PenCom and the National Salaries, Incomes and Wages Commission (NSIWC) and held in Owerri, Imo State.
Represented at the event a top management staff of the commission, Mr. Samuel Uwandu, the Director-General confirmed that the Federal Government had approved a N758 billion bond for PenCom, which will be cashed in and used to clear unpaid gratuities and pension arrears.
She assured that once the bond was converted to cash, all pensioners gratuities will be paid in full by December 2025, just as those owed arrears will be fully settled.
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According to her, the commission has opened discussions with the government to increase retirees’ benefits from the current 75% of final emoluments up towards 100% so that retirees may receive their full pre‑retirement salary (or close to it) as pension.
The PenCom boss also said that for workers retiring between October–December 2025, their benefits would be received before December 15.
Experts believe that the pledge by PenCom signals a major step forward in resolving long‑standing pension and gratuity issues in the country and that if fully implemented by the commission it will have a positive impact on the welfare of retirees.
