The National Pension Commission has confirmed that it has completed pension payments for all retirees who left service in November, signaling an end to the long-standing delays in entitlements for workers in treasury-funded Ministries, Departments, and Agencies.

The Head of Corporate Communications at PenCom, Mr. Ibrahim Buwai made this disclosure on Sunday in Abuja, according to the News Agency of Nigeria.

He said the commission’s reforms and improved remittance processes have ensured regular, timely payment of accrued pension benefits.

“As at today, payments for November retirees have been completed,” Buwai stated. “The accrued rights of those retiring in December will be paid before the 15th as earlier announced, to enable them receive their benefits ahead of the festive season.”

Buwai credited the improved efficiency to ongoing reforms in the pension administration framework and the Federal Government’s recent release of N758 billion from bond proceeds to settle long-standing pension obligations, including arrears of pension increases dating back to 2007.

He added that this development underscores PenCom’s commitment to ensuring that no retiree under the Contributory Pension Scheme experiences hardship from delayed payments.

“With these measures in place, delays in pension payments for treasury-funded MDA retirees will no longer be an issue,” he emphasized. “PenCom remains dedicated to strengthening the pension system and safeguarding the welfare of retirees nationwide.”

Buwai further revealed that PenCom is stepping up efforts to tackle the ongoing issue of employers failing to remit employees’ pension contributions to their Pension Fund Administrators.

He noted that PenCom’s Director-General, Ms. Omolola Oloworaran, recently signed a Memorandum of Understanding with the Independent Corrupt Practices and Other Related Offences Commission to recover unremitted contributions and enforce strict compliance.

Under the MoU, the ICPC is empowered to recover outstanding pension funds, ensure they are promptly credited to workers’ Retirement Savings Accounts, and hold defaulting employers legally accountable.

“Defaulters would be penalised in accordance with the law,” Buwai said.

Last month, PenCom reported that over 552,000 retirees in Nigeria are now receiving regular monthly pensions under the Contributory Pension Scheme.

The Commission also revealed that total pension assets have exceeded N25 trillion, marking a significant milestone in Nigeria’s pension administration and its impact on national development.