The National Pension Commission (PenCom) says retirees under the Contributory Pension Scheme (CPS) have received an additional N2.68 billion in pension payments following recent reforms.
The Director-General of PenCom, Omolola Oloworaran, disclosed this on Tuesday in Abuja at the 2025 PenCom–Civil Society Conference.
Oloworaran said the increase followed the launch of Pension Boost 1.0, an initiative aimed at improving the adequacy of retirement benefits for CPS retirees.
According to her, the scheme has raised monthly pension disbursements by N2.68 billion nationwide.
“We added N2.68 billion to monthly pension payments for CPS retirees,” she said.
The PenCom chief, who was represented at the event by the Director of the Contribution and Bond Redemption Department, Usman Musa, also spoke on efforts to expand pension coverage.
She explained that the restructuring of the Micro Pension Plan into the Personal Pension Plan (PPP) was intended to attract more participants, particularly from the informal sector.
Oloworaran said the PPP targets artisans, traders, transport operators, gig workers and self-employed professionals, with the goal of enrolling millions of informal workers into the pension system.