Oct. 24, 2025
The National Pension Commission says it will clear all pension arrears and gratuities owed the retirees if the N758 billion bond by the Federal Government matures before December this year.
Ms. Omolola Oloworaran, the Director-General of PenCom said this on Friday in Owerri at a two-day workshop organised by the commission and, National Salaries, Income and Wages Commission.
The PenCom director-general was represented by Mr. Samuel Uwandu, the National Commissioner Inspectorate of the Commission.
Oloworaran said that over the decades, there had been some issues on the gratuities or the amount paid to pensioners.
She gave an example with the Police retirees, noting that their pension is very small and inconsistent to what they had contributed.
“Thanks to President Bola Tinubu who has given PenCom a bond of N758 billion and we are working towards cashing it and we hope to cash it towards the end of the year.
“The bond will be converted into cash all the gratuities will be paid in full by December this year and everybody that is owed arrears will be paid in full.
“Those who qualify to be paid since the increased in pension from 2007, the retirees are still being owed, the commission will pay them also “, she said.
According to her, PenCom is talking with government to increase their arrears from 75 per cent to 100 per cent of their final emolument.
“What this means is whatever is a pensioner’s salary when he retired, is what he will. (NAN)
