The National Pension Commission (PenCom) has expressed confidence that the Federal Government’s N758 billion bond will settle long-standing pension liabilities owed to federal workers. The fund, recently approved by President Bola Tinubu, aims to offset arrears under the contributory pension scheme and support retirees with timely payments.
Speaking in Imo State, the Federal Commissioner of Inspectorate at PenCom, Sam Uwandu, commended the President for his commitment to improving pensioners’ welfare. He assured that disbursement would commence before the end of the year, beginning with arrears owed to retired workers.
Uwandu noted that while some retirees had requested lump-sum payments, the commission emphasized the benefits of consistent monthly pensions. He added that PenCom’s Director-General, Omolola Oloworaran, was working to ensure all retirees receive full entitlements without delays.
