Photo Credit : THE NATION
2025-12-17
Speaking at a pension reform scorecard event, PenCom’s DG Omolola Oloworaran says about ₦577 billion has been credited to retirees and contributors after the Federal Government released funds to address legacy pension liabilities, *The Nation* reports.
The breakdown includes payouts tied to pension increases, accrued rights, and contribution shortfalls—an intervention designed to reduce long-standing backlogs and improve confidence in the contributory pension framework.
For retirees, the practical impact is immediate: arrears paid, monthly payments boosted, and fewer delays—though questions remain about sustainability and future funding discipline.
Other reporting on the same development includes:
– TheCable: “In total, ₦577.5bn has already hit the RSAs of retirees and contributors, impacting over 1.05 million accounts.”
– BusinessDay: “Stakeholders say clearing liabilities is key to restoring trust in the pension system.”
Analysis/Echotitbits take: This is a rare “delivery” moment in public finance, but it also sets a standard. Watch whether contribution remittances stay current (especially MDAs), and whether PenCom’s enforcement tools meaningfully reduce future pension arrears.