The National Pension Commission (PenCom) has directed treasury-funded Ministries, Departments and Agencies (MDAs) to submit details of employees who retired or are due to retire between January 1 and December 31, 2026, ahead of the implementation of the Federal Government’s newly approved Exit Benefit Scheme.
In a circular dated June 16, 2026, PenCom said all required information must be submitted on or before July 6, 2026. The commission warned that submissions must be complete, accurate and strictly comply with the prescribed reporting template.
The circular was signed by the Acting Head of the Contribution and Bond Redemption Department, Murtala M. Modibbo, and addressed to heads and chief executive officers of treasury-funded federal MDAs.
According to PenCom, the data collection exercise is a critical step toward the successful implementation of the Exit Benefit Scheme recently approved by the Federal Government for employees of treasury-funded MDAs.
“The National Pension Commission is pleased to inform you that the Federal Government has approved the implementation of an Exit Benefit Scheme for employees of Treasury-funded Ministries, Departments and Agencies,” the circular stated.
The commission directed all affected MDAs to forward the required information through designated official email addresses before the July 6 deadline.
PenCom explained that the scheme provides for the payment of 100 per cent of the final total annual emoluments of eligible retiring employees who have completed a minimum of 10 years of service at the point of retirement.
According to the commission, the benefit will take effect retrospectively from January 1, 2026, ensuring that eligible workers who retired earlier in the year are covered under the scheme.
To facilitate implementation, PenCom noted that the Office of the Head of the Civil Service of the Federation has already issued comprehensive guidelines detailing eligibility criteria, documentation requirements, payment procedures, budgeting processes and the responsibilities of MDAs.
The commission also disclosed plans to upgrade its Contribution and Bond Redemption Application by introducing a dedicated Exit Benefit Scheme sub-module to support the administration of the programme.
The Exit Benefit Scheme is one of the measures provided under the Pension Reform Act 2014 to strengthen retirement support for public servants in treasury-funded federal institutions.
Nigeria’s Contributory Pension Scheme requires both employees and employers to make regular contributions into Retirement Savings Accounts managed by Pension Fund Administrators.
However, concerns have frequently been raised by labour unions and retirees over the adequacy of retirement benefits, particularly in the face of rising inflation and increasing living costs.
The introduction of the Exit Benefit Scheme is expected to provide additional financial support for eligible federal workers upon retirement while improving social protection for public servants after active service.
With the July 6 deadline approaching, attention is expected to focus on the ability of MDAs to compile and submit accurate records promptly to ensure the timely implementation of the scheme and payment of benefits to eligible retirees.
