Federal Government has cleared all outstanding pension liabilities under the Contributory Pension Scheme (CPS), ensuring no backlogs exist.
Director-General of the National Pension Commission, PenCom, Omolola Oloworaran stated this at the Nigerian Union of Pensioners Contributory Pension Scheme Conference in Abuja.
Oloworaran gave the assurance that the federal government was committed to the welfare of pensioners.
The DG PenCom stated that the commission is working toward facilitating immediate payment of retirement benefits, aiming for a system where retirees do not face long waiting periods.
”I do not take the plight of senior citizens lightly at all, you know, because when you see people who have served this nation diligently, retired, and then you see them in penury, it’s just not acceptable”.
The DG PenCom explained that Pension Revolution 2.0. was launched to bring innovations into pension to make life better for the senior citizens.
Pension Revolution 2.0 was launched by National Pension Commission (PenCom) in September 2025, aimed at improving retiree welfare, expanding health coverage, and optimizing investment returns. It introduces a minimum pension floor, health insurance for retirees, and streamlines processes to secure financial futures.
”With Pension Revolution 2.0, we are bringing healthcare to our senior citizens. We must ensure that our senior citizens earn a living wage in retirement as part of Pension Revolution 2.0.” Oloworaran noted.
She maintained that President Tinubu has cleared all pension liabilities and that the federal government is not owing pension liabilities.
In a remark, President of Nigerian Union of Pensioners Contributory Pension Scheme, Comrade Sylva Nwaiwu applauded President Bola Tinubu for the approval of ₦758 billion to settle accrued rights and pension increment.
Comrade Nwaiwu said after more than two decades of neglect and suffering by retirees under the CPS, on the 4th of February 2025, President Bola Tinubu approved the sum of 758 billion naira to clear all federal government pension liabilities in the CPS from 2007.
According to Nwaiwu, the federal government also regularized monthly remittance of accrued rights by the federal government unlike the past when retirees waited for more than a year before receiving their retirement benefits.
He noted that CPS retirees are receiving their entitlements the same month, within the same month they retire from service.
Comrade Nwaiwu raised concern on the assumption of eligible retirees in ongoing payments of pension increment arrears from the 758 billion Naira approved by the federal government, with omissions that include eligible individual retirees.
He noted that there are retirees from organizations that have been classified as being under first-line charge, or self-funded who were omitted in the payment and urged the government to include them without further delay.
Comrade Nwaiwu appealed to the relevant authorities to ensure that the members omitted are paid early.
The National President of Nigerian Union of Pensioners, Comrade Godwin Abumisi expressed hope for a better days for pensioners under the present administration.
Some members of the Nigerian Union of Pensioners Contributory Pension Scheme who could not hide their happiness, expressed appreciation to the DG of PenCom and President Bola Tinubu for remembering the retirees.
The theme of the conference is Strengthening Contributory Pension Scheme Administration for Dignity, Timeliness and Trust.
RN
