By ALiyu Galadima
National Pension Commission ,PenCom, has announced an increase in monthly pension payments from N8.3bn to N11.9bn, effective June 1, 2025.
The announcement was made by the Director-General of PenCom, Mrs. Omolola Oloworaran, during the Commission’s second quarter briefin.
The DG said the development is a bold reflection of the federal government’s commitment to restoring dignity and financial stability to Nigeria’s retired workforce.
She said the increment will benefit over 233,000 retirees under the Contributory Pension Scheme ,CPS, and is powered by recent economic reforms and strong performance of the Retirement Savings Account ,RSA, funds.
“We are building a pension system that is transparent, inclusive, and unshakable—one that delivers on its promise to every Nigerian worker”, Oloworaran declared.
“This is a new era of compliance and trust, and it guarantees a brighter future for all retirees”.
The Commission also highlighted key outcomes from the Inaugural Pension Industry Leadership Retreat, held in May 2025.
According to PenCom, the retreat set the tone for the future of the industry by focusing on critical areas such as infrastructure financing, legislative engagement, investment diversification, and a strategic rebranding of the Micro Pension Plan.
The scheme has now been renamed The Personal Pension Plan to improve accessibility for Nigeria’s growing informal sector.
In a significant compliance directive, Oloworaran announced that by November 2025, any organization—including service providers, parent companies, subsidiaries, and institutional shareholders without a valid Pension Clearance Certificate ,PCC, would be prohibited from conducting business within Nigeria’s pension ecosystem.
“This measure underscores that compliance is no longer optional,” the DG stated, emphasizing the Commission’s resolve to enforce strict adherence to pension laws and protect contributors’ funds.
Another milestone disclosed at the briefing was the near-complete clearance of accrued pension rights arrears.
With support from President Bola Tinubu, PenCom confirmed that all accrued pension payments have been made for retirees exiting service up to March 2025, a backlog that previously stretched as long as 21 months.
The DG affirmed that the Commission is now poised to completely eliminate pension arrears.
She described it as a “historic shift” that will guarantee the timely disbursement of benefits to future retirees.
“These reforms are not just numbers on a page; they are real changes that touch lives”, Oloworaran said.
The PenCom boss further reiterated PenCom’s mission to create a sustainable, efficient, and reliable pension system for all Nigerians.
