The National Pension Commission (PenCom) has ordered treasury-funded federal Ministries, Departments and Agencies (MDAs) to submit details of staff who retired or will retire between January 1 and December 31, 2026, to prepare for the Federal Government’s newly approved Exit Benefit Scheme. In a circular signed by Murtala M. Modibbo, Acting Head of the Contribution and Bond Redemption Department, PenCom gave MDAs until July 6, 2026, to send complete and accurate data using the prescribed template via designated official email addresses.
PenCom said the data collection is essential for rolling out the scheme, which guarantees eligible retirees 100% of their final total annual emoluments, provided they have served at least 10 years. The benefit is effective retroactively from January 1, 2026. The Head of the Civil Service has already issued guidelines on eligibility, documentation, payment, budgeting, and MDA responsibilities. PenCom is also updating its Contribution and Bond Redemption Application to include an Exit Benefit Scheme sub-module.
The Exit Benefit Scheme, introduced under the Pension Reform Act 2014, aims to strengthen retirement support for public servants amid concerns over pension adequacy. With the July 6 deadline approaching, MDAs must compile and submit accurate records promptly to enable timely implementation and payment to eligible retirees.
