Table of Contents
- Announcement of Additional Pension Disbursements
- Introduction of Pension Boost 1.0
- Restructuring of the Micro Pension Plan
The National Pension Commission (PenCom) has revealed that retirees participating in the Contributory Pension Scheme (CPS) have received an additional N2.68 billion in pension disbursements.
The Director-General of PenCom, Omolola Oloworaran, shared this information on Tuesday in Abuja during the 2025 PenCom–Civil Society Conference.
She stated that these extra payments were a result of the launch of Pension Boost 1.0, a program aimed at enhancing the adequacy of retirement benefits for Nigerians.
Oloworaran clarified that this initiative has increased the monthly pension payments to CPS retirees by N2.68 billion.
“We have added N2.68 billion to the monthly pension payments for CPS retirees,” she remarked.
At the conference, where she was represented by Usman Musa, the Director of the Contribution and Bond Redemption Department, the PenCom chief also highlighted the restructuring of the Micro Pension Plan into the Personal Pension Plan (PPP), which is intended to expand pension coverage, particularly within Nigeria’s informal sector.
She mentioned that the PPP is aimed at artisans, traders, transport operators, gig workers, and self-employed professionals, with the goal of enrolling millions of informal sector workers into the pension system.
What is Pension Boost 1.0?
Pension Boost 1.0 is a program launched by the National Pension Commission to enhance the adequacy of retirement benefits for Nigerians, resulting in an additional N2.68 billion in monthly pension payments for CPS retirees.
Who does the Personal Pension Plan target?
The Personal Pension Plan (PPP) targets artisans, traders, transport operators, gig workers, and self-employed professionals, aiming to include millions of informal sector workers in the pension system.
Eze Chidiebere Paul
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