The Federal Government has commenced payment under its new Exit Benefit Scheme, disbursing approximately ₦1.1 billion to 175 retirees from Treasury-funded Ministries, Departments and Agencies.
![](https://thenigerialawyer.com/wp-content/uploads/2026/05/2026-Summer-IDRI-Masterclass.jpg")
The National Pension Commission disclosed the development in a statement on Friday, explaining that the beneficiaries retired from the Federal Public Service between January 1 and August 31, 2026.
The scheme, which was approved by the Federal Executive Council and took effect on January 1, provides an additional financial benefit to eligible federal employees upon retirement.
Under the arrangement, federal civil servants who have completed at least 10 years of service are entitled to an exit benefit equivalent to 100 per cent of their total annual emolument at the time of retirement.
PenCom clarified that the payment is separate from the regular pension benefits available to retirees under the Contributory Pension Scheme.
“The Federal Government has commenced the payment of Additional Exit Benefits to retirees of Treasury-funded Ministries, Departments and Agencies, with approximately ₦1.1 billion already paid to 175 retirees who exited the Federal Public Service between January 1 and August 31, 2026,” the commission said.
PenCom described the commencement of payment as a significant development in efforts to provide federal retirees with additional financial support beyond the funds accumulated in their Retirement Savings Accounts during active service.
The commission disclosed that ₦32.90 billion was provided in the 2026 Appropriation Act for the implementation of the Exit Benefit Scheme.
It added that the Federal Government had released ₦12.3 billion into a dedicated Exit Benefit Scheme account maintained with the Central Bank of Nigeria.
PenCom said it was implementing the scheme in collaboration with the Office of the Head of the Civil Service of the Federation, the Office of the Accountant-General of the Federation, Pension Fund Administrators and other relevant stakeholders.
Retiring workers are required to submit documents, including their clearance letters and recent payslips, to their Pension Fund Administrators.
The PFAs are expected to verify the retirees’ records and forward the information to PenCom for further validation and approval.
Once approved, the exit benefit is credited to the retiree’s Retirement Savings Account through the PFA. The entire amount is subsequently transferred to the beneficiary’s designated salary bank account.
PenCom emphasised that the exit benefit does not replace or reduce the regular retirement benefits payable from a beneficiary’s Retirement Savings Account.
“It should be emphasised that this is an additional payment, existing alongside the usual benefits drawn by the retirees from their RSA balances,” it stated.
The commission said the initial payment demonstrated that the scheme had officially commenced, adding that subsequent retirees from Treasury-funded federal MDAs who satisfy the eligibility requirements would receive the additional benefit.
The book also examines Nigeria's legal ecosystem, focusing on the LPELR and NBA AI Guidelines. As a bonus, every purchase comes with a FREE eBook titled: How to Use the AI Features in LegalPedia and LawPavilion.
Ohio Books Ltd praises the publication, stating:
"....this is the only Nigerian book I know of on the topic."
How to Order:
📞 Call, Text, or WhatsApp: 08034917063 | 07055285878
📧 Email: benadigwe1@gmail.com
🌎 Website: www.benadigwe.com
Ebook Version: Access it directly online at https://selar.com/prv626
Authored by Ben Ijeoma Adigwe Esq., ACIarb (UK), LL.M, Dip. in Artificial Intelligence, Director at the Delta State Ministry of Justice, Asaba, Nigeria.
_______________________________________________________________________
“Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence
Interested buyers are encouraged to place their orders and enquiries via:
0704 444 4777, 0704 444 4999, 0818 199 9888
Website: www.alexandernigeria.com
