BY NKECHI NAECHE-ESEZOBOR—After years of frustration and uncertainty, Nigerian retirees can finally breathe a sigh of relief — they now begin receiving their pensions immediately after retirement, thanks to sweeping reforms introduced by the National Pension Commission (PenCom).
The Commission announced that, since July 2025, retirees no longer face the months-long waiting period that once delayed their benefits, following a presidential directive by President Bola Tinubu.
“There’s now zero waiting time for pension payments. You receive your pension in the same month you retire,” said PenCom’s Director-General, Ms. Omolola Oloworaran, at a sensitization workshop held at the University of Lagos, Akoka.
For thousands of Nigerian workers nearing retirement, this marks a transformative shift — ending years of financial strain and emotional distress caused by delayed payments.
READ ALSO: Nigeria Customs Service Reaffirms CSR Drive, Vows Support For Sister Agencies
One of the participants at the workshop, Sobanjo Adebusola, described the reform as “a dream come true for many retirees who used to struggle to survive while waiting for their entitlements.”
Another attendee, Adesanwo Taiwo, said PenCom’s efforts have renewed confidence in the system.
“It’s a new dawn for pensioners. PenCom has restored hope for workers who can now retire with dignity,” Taiwo said.
The two-day workshop, organized by PenCom in collaboration with the National Salaries, Incomes and Wages Commission, brought together employees, pension desk officers, and retirees from Federal Government ministries, departments, and agencies.
Oloworaran explained that beyond the instant pension payments, PenCom is taking additional steps to safeguard pension assets and ensure that Pension Fund Administrators (PFAs) remain strong and accountable.
“We’ve reviewed the minimum capital requirement for PFAs and introduced whistle-blowing guidelines, revised investment rules for diversification, and a framework for accredited pension agents and Personal Pension Plans,” she noted.
She also revealed that, as directed by the President, PenCom plans to launch a free healthcare insurance scheme for low-income earners before the end of 2025 — another initiative aimed at improving retirees’ welfare.
The Commission is also engaging state governments to clear outstanding pension arrears and gratuities, ensuring that both federal and state retirees enjoy the benefits of ongoing reforms.
With these initiatives, PenCom is not only streamlining the pension process but also restoring dignity and security to Nigeria’s ageing workforce — a move that many say has been long overdue.
