PenCom Says Delayed Pension Payments are Now a Thing of the Past

PenCom Says Delayed Pension Payments are Now a Thing of the Past

The National Pension Commission (PenCom) has declared that pension delays for retirees in treasury-funded Ministries, Departments, and Agencies are over. This follows recent reforms and the remittance of outstanding benefits.

PenCom’s spokesperson, Ibrahim Buwai, confirmed that pension payments for November retirees have been fully processed, with December retirees set to receive theirs before Dec. 15. The Federal Government also injected over N758bn to clear arrears dating back to 2007.

To secure ongoing compliance, PenCom has signed an MoU with the ICPC to recover unremitted contributions and penalize defaulting employers, reinforcing its commitment to retiree welfare.