The National Pension Commission (PenCom) has launched Pension Boost 1.0, a new initiative under the Contributory Pension Scheme (CPS) designed to enhance monthly payments to retirees nationwide.
The announcement came during PenCom’s second-quarter media briefing held Thursday in Lagos, where Director-General, Ms. Omolola Oloworaran, revealed that total monthly pension disbursements have been increased from N8.3 billion to N11.9 billion, effective June 2025.
“This is the news every retiree has been waiting for,” Oloworaran declared. “Over 233,000 retirees will now see increased monthly payments, dependent on their Retirement Savings Account balances.”
