Business A.M
No Result
View All Result
Wednesday, September 16, 2026
  • Login
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • ONLINE & DIGITAL CONTENT PACKAGE
Subscribe
Business A.M
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • ONLINE & DIGITAL CONTENT PACKAGE
No Result
View All Result
Business A.M
No Result
View All Result
Home Insurance & Pension Business

PenCom extends pension enrolment as only 31,099 workers complete exercise

by Joy Agwunobi
September 16, 2026
in Insurance & Pension Business
PenCom extends pension enrolment as only 31,099 workers complete exercise

The National Pension Commission (PenCom) has extended the deadline for Federal Government employees to complete the mandatory online verification and enrolment for accrued pension rights after only 31,099 workers completed the process by July.

The commission said the exercise, which began in February 2026 and was originally scheduled to end on July 31, has now been extended to December 31, 2026.

The extension gives eligible employees of treasury-funded Ministries, Departments and Agencies (MDAs) who are yet to complete the process additional time to enrol and have their pension rights determined.

PenCom said the decision followed requests from several MDAs for more time for their employees to participate in the exercise.

As of July 2026, MDAs had uploaded 62,320 records of active employees and retirees, but only 31,099 employees had successfully completed the enrolment process. This is significantly below the estimated 150,000 active Federal Government employees who are entitled to accrued pension rights.

The commission has consequently called on eligible employees who have not started the process, as well as those who commenced but have yet to complete it, to use the extended period to conclude their enrolment.

The exercise is part of the Federal Government’s efforts to determine and settle pension obligations owed to workers who moved from the Defined Benefit Scheme (DBS) to the Contributory Pension Scheme (CPS) following the introduction of the CPS in 2004.

Under Section 15(1) of the Pension Reform Act 2014, employees who transitioned to the CPS are entitled to accrued pension rights representing benefits earned under the former DBS.

These benefits cover pension and gratuity earned by eligible employees from their date of first appointment to June 30, 2004.

PenCom said the value of the accrued rights is established through an actuarial valuation process, making the online verification and enrolment a key requirement for determining the benefits due to affected employees.

The commission urged eligible employees to complete the exercise before the revised December 31 deadline.

Joy Agwunobi
Joy Agwunobi
Previous Post

Anthropic warns recursive AI improvement could outrun human control

Next Post

Nigeria ranks abysmally low, as Namibia, Kenya, Ghana, Angola make biggest SSA climb

Next Post
Nigeria ranks abysmally low, as Namibia, Kenya, Ghana, Angola make biggest SSA climb

Nigeria ranks abysmally low, as Namibia, Kenya, Ghana, Angola make biggest SSA climb

  • Trending
  • Comments
  • Latest
MMA2 enters new commercial era after 20-year concession dispute

MMA2 enters new commercial era after 20-year concession dispute

August 28, 2026

How UNESCO got it wrong in Africa

May 30, 2017

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025

Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

November 20, 2017

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

Airbus, ALT Academy seek to expand Africa aircraft maintenance capacity

Airbus, ALT Academy seek to expand Africa aircraft maintenance capacity

September 16, 2026
Nigeria ranks abysmally low, as Namibia, Kenya, Ghana, Angola make biggest SSA climb

Nigeria ranks abysmally low, as Namibia, Kenya, Ghana, Angola make biggest SSA climb

September 16, 2026
PenCom extends pension enrolment as only 31,099 workers complete exercise

PenCom extends pension enrolment as only 31,099 workers complete exercise

September 16, 2026
Anthropic warns recursive AI improvement could outrun human control

Anthropic warns recursive AI improvement could outrun human control

September 16, 2026

Popular News

  • MMA2 enters new commercial era after 20-year concession dispute

    MMA2 enters new commercial era after 20-year concession dispute

    0 shares
    Share 0 Tweet 0
  • How UNESCO got it wrong in Africa

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

    0 shares
    Share 0 Tweet 0
  • Insurance-fuelled rally pushes NGX to record high

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

Airbus, ALT Academy seek to expand Africa aircraft maintenance capacity

Airbus, ALT Academy seek to expand Africa aircraft maintenance capacity

September 16, 2026
Nigeria ranks abysmally low, as Namibia, Kenya, Ghana, Angola make biggest SSA climb

Nigeria ranks abysmally low, as Namibia, Kenya, Ghana, Angola make biggest SSA climb

September 16, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • ONLINE & DIGITAL CONTENT PACKAGE

© 2026 Business A.M