All retired federal employees under the Contributory Pension Scheme (CPS) will soon begin receiving a ₦32,000 monthly pension increase.
The increment will be funded from a ₦758 billion bond approved by President Bola Ahmed Tinubu to clear all outstanding pension liabilities.
The National Pension Commission (PenCom) confirmed that the increment ensures retirees benefit from the National Minimum Wage Amendment Act 2024 and Consequential Adjustments.