Contributory Pension Scheme retirees get additional N2.68bn payment 

The National Pension Commission (PenCom) has announced that retirees enrolled in the Contributory Pension Scheme (CPS) have benefited from an additional N2.68 billion in pension disbursements.

Director-General of PenCom, Omolola Oloworaran, made this known on Tuesday in Abuja at the 2025 PenCom–Civil Society Conference.

She said the additional payments followed the launch of Pension Boost 1.0, a scheme introduced to improve the adequacy of retirement benefits for Nigerians.

Oloworaran explained that the initiative has increased monthly pension payments to CPS retirees by N2.68 billion.

“We added N2.68 billion to monthly pension payments for CPS retirees,” she said.

Represented at the conference by the Director of the Contribution and Bond Redemption Department, Usman Musa, the PenCom chief also noted that the restructuring of the Micro Pension Plan into the Personal Pension Plan (PPP) was designed to widen pension coverage, particularly within Nigeria’s informal sector.

She said the PPP was targeted at artisans, traders, transport operators, gig workers, and self-employed professionals, with the aim of enrolling millions of informal sector workers into the pension system.