Tag: #PensionBoost
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CIVIL SERVANTS CHEER RETURN OF GRATUITY AFTER 22 YEARS
Federal civil servants are celebrating the reintroduction of gratuity, ending more than two decades without the retirement perk. The Federal Executive Council approved a new exit benefit on March 5, giving retirees a lump sum equivalent to one year’s salary—a major boost to complement the existing Contributory Pension Scheme (CPS). Workers told NAN that the…
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NIGERIA’S PENSION SCHEME TRANSFORMS RETIREMENT SECURITY, PENSIONS HIT N14.8B MONTHLY
PenCom’s CPS boosts coverage and benefits while ensuring timely payments and better welfare. PenCom DG Omolola Oloworaran hailed Nigeria’s Contributory Pension Scheme (CPS) for revolutionizing pensions over 20 years, covering 10 million Nigerians and growing assets to over ₦25 trillion. Monthly pensions rose from ₦12.16 billion to ₦14.84 billion in June 2025, with zero waiting…
