The National Pension Commission has instructed treasury-funded Ministries, Departments and Agencies to provide details of staff who have retired or are scheduled to retire between January 1 and December 31, 2026, as part of preparations for the rollout of the Federal Government’s newly approved Exit Benefit Scheme.

In a circular dated June 16, 2026, PenCom stated that the information must be submitted to the Commission no later than July 6, 2026, stressing that all submissions must be complete, accurate, and strictly adhere to the approved template.

The circular, signed by the Acting Head of the Contribution and Bond Redemption Department, Murtala M. Modibbo, was addressed to heads and chief executive officers of treasury-funded federal MDAs.

PenCom said the data collection exercise is essential for the smooth 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.

PenCom directed the affected MDAs to submit the required information via designated official email addresses on or before the July 6 deadline.

The Commission explained that the scheme provides for the payment of 100 per cent of the final total annual emoluments of eligible retiring employees who have served at least 10 years at the point of exit from service.

The benefit takes effect retroactively from January 1, 2026.

To support implementation, PenCom said the Head of the Civil Service of the Federation has already released guidelines detailing eligibility criteria, required documentation, payment procedures, budgeting arrangements, and the respective responsibilities of MDAs under the scheme.

The Commission also disclosed that it is upgrading its Contribution and Bond Redemption Application to include a dedicated Exit Benefit Scheme sub-module.

It noted that the Exit Benefit Scheme is one of the provisions introduced under the Pension Reform Act 2014 to strengthen financial support for retiring public servants in treasury-funded federal institutions.

Under Nigeria’s Contributory Pension Scheme, employees and employers make regular pension contributions into Retirement Savings Accounts managed by Pension Fund Administrators. However, labour unions and retirees have continued to raise concerns over the adequacy of retirement benefits, particularly in the face of rising inflation and increasing living costs.