The National Pension Commission has said it is working with the Federal Government to institutionalise a sustainable solution, ensuring retirees receive their benefits promptly and without undue stress.
This was revealed by the Director-General, Omolola Oloworaran at a media conference in Abuja on Thursday.
“Expanding pension coverage remains a top priority for the Commission. Our revamped Micro Pension Plan leverages technology to incentivise informal sector participation, making it easier for everyday Nigerians to save for retirement. This initiative aligns with our vision of inclusive growth and financial security for all.
“We are also addressing delays in retirement benefit payments to retirees of Federal Government treasury-funded MDAs.
“Recently, N44 billion was released under the 2024 budget appropriations to settle accrued pension rights for retirees from March to September 2023. Moving forward, we are working with the Federal Government to institutionalise a sustainable solution, ensuring retirees receive their benefits promptly and without undue stress.”
Oloworaran also said the commission is projecting to close 2024 with over N22 trillion in pension assets.
These numbers reflect our unwavering commitment to fund safety, prudent management, and sustainable growth,” Oloworaran said.