The National Pension Commission (PenCom) said Office of the Accountant General of the Federation (OAGF) has released an additional N22 billion as part of the 2024 appropriation for the period July to September for the payment of pensions.
A statement signed by PenCom management said the funds were paid into the Retirement Benefits Bond Redemption Fund (RBBRF) account at the Central Bank of Nigeria.
This is to partially settle unpaid accrued pension rights for retirees of the Federal Government Treasury-funded Ministries, Departments and Agencies (MDAs) under the Contributory Pension Scheme (CPS).
It noted that the disbursed funds have been applied to settle the accrued pension rights of retirees who were duly verified and enrolled, covering the period October 2023 to January 2024, as well as some deceased employees.
Accordingly, the remittances have been credited directly to the Retirement Savings Accounts (RSAs) of the affected retirees through their respective Pension Fund Administrators (PFAs).
