The Federal Government has commenced the payment of Additional Exit Benefits, AEB, to retirees of Treasury-funded Ministries, Departments and Agencies, MDAs, with approximately N1.1 billion already paid to 175 retirees who exited the Federal Public Service between 1 January and 31 August 2026.

The payment is being made under the Federal Government Exit Benefit Scheme, EBS, approved by the Federal Executive Council and effective from 1 January 2026.

The National Pension Commission, PenCom, which made this known in a statement, informed that the Scheme provides an additional financial benefit to Federal Government employees at retirement, alongside their pension benefits under the Contributory Pension Scheme, CPS.

Under the Scheme, Federal Civil Servants who have served for at least 10 years are entitled to an Exit Benefit equivalent to 100 per cent of their total annual emolument.

Blaze 91.5 FM