PenCom Exempts Retirees Earning Below N10,000 From Pensions

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The National Pension Commission has said Retirees who are entitled to less than N10, 000 monthly pension at retirement can take the total money in their Retirement Savings Accounts.

Head, Benefits & Insurance Department of PenCom, Obiora Ibeziako, disclosed this during an event in Lagos State.

Ibeziako said the Commission reviewed its regulation on payment to retirees which allowed retirees with less than N550, 000 at retirement to withdraw all the balance in the retirement instead of being on monthly payment.

Written by: Helen Obih

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