{"id":124589,"date":"2025-12-24T21:55:59","date_gmt":"2025-12-24T20:55:59","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=124589"},"modified":"2025-12-24T21:55:59","modified_gmt":"2025-12-24T20:55:59","slug":"cps-retirees-receive-n2-68bn-as-pencom-expands-coverage","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/cps-retirees-receive-n2-68bn-as-pencom-expands-coverage\/","title":{"rendered":"CPS Retirees Receive N2.68bn as PenCom Expands Coverage"},"content":{"rendered":"<div style=\"text-align: justify;\">By Lizzy Chirkpi<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Retirees under Nigeria\u2019s Contributory Pension Scheme (CPS) have received an additional N2.68 billion in pension payments following a new intervention by the National Pension Commission (PenCom).<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The Director-General of PenCom, Omolola Oloworaran, disclosed this on Tuesday in Abuja during the 2025 PenCom\u00a0 Civil Society Conference, noting that the increase was achieved through the implementation of Pension Boost 1.0, an initiative aimed at improving the adequacy of retirement benefits.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">According to Oloworaran, the programme has significantly raised monthly pension disbursements to CPS retirees. \u201cWe added N2.68 billion to monthly pension payments for CPS retirees,\u201d she said.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">She explained that the intervention was part of broader efforts by the commission to enhance retirees\u2019 welfare amid rising economic pressures.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The PenCom boss, who was represented at the event by the Director of the Contribution and Bond Redemption Department, Usman Musa, also highlighted recent reforms targeted at expanding pension coverage across the country.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">She said the restructuring of the Micro Pension Plan into the Personal Pension Plan (PPP) was designed to attract more participants, especially from Nigeria\u2019s large informal sector.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">According to her, the PPP specifically targets artisans, traders, transport workers, gig economy participants, and self-employed professionals, with the goal of enrolling millions of informal sector workers into the pension system and securing their financial future in retirement.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Oloworaran reaffirmed PenCom\u2019s commitment to strengthening pension administration and ensuring that more Nigerians benefit from a sustainable and inclusive pension framework.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Lizzy Chirkpi Retirees under Nigeria\u2019s Contributory Pension Scheme (CPS) have received an additional N2.68 billion in pension payments following a new intervention by the National Pension Commission (PenCom). The&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":124590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-124589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CPS Retirees Receive N2.68bn as PenCom Expands Coverage - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/cps-retirees-receive-n2-68bn-as-pencom-expands-coverage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CPS Retirees Receive N2.68bn as PenCom Expands Coverage - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"By Lizzy Chirkpi Retirees under Nigeria\u2019s Contributory Pension Scheme (CPS) have received an additional N2.68 billion in pension payments following a new intervention by the National Pension Commission (PenCom). 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