Programmed withdrawal retirees get third pension enhancement


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Chuks Udo Okonta

Retirees under the Programmed
Withdrawal (PW) monthly pension benefits have been granted enhancement package by the National Pension Commission (PenCom).

PenCom announced this in a document entitled: ‘Third Edition of Pension Enhancement for Retirees on Programmed Withdrawal Under the Contributory Pension Scheme’.

“The National Pension Commission (PenCom) is pleased to inform the general public that the third edition of pension enhancement under the Contributory Pension Scheme (CPS) has been approved. The exercise is for existing retirees under Programmed withdrawal who have accumulated significant growth in their Retirement Savings Accounts (RSAs).”

PenCom noted that the effective commencement date of the enhancement is February 2023.

It urged relevant retirees to contact their respective Pension Fund Administrators (PFAs) to complete the required documentation.

PenCom assures all stakeholders of its commitment to the effective regulation, supervision and administration of pension matters in Nigeria.

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