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The National Pension Commission (PenCom) says it has engaged with the Lagos State Government and the Lagos State Pension Commission (LASPEC) over concerns related to the administration of pensions under the Contributory Pension Scheme (CPS), particularly “the implementation of pension increases and wage awards.”
PenCom disclosed this in a statement on Monday while acknowledging concerns expressed by pensioners under the CPS in Lagos State.
PenCom’s statement comes as The Guardian reported on August 31, 2026, that pensioners under the Nigeria Union of Pensioners and the Contributory Pension Scheme “are currently protesting at the Lagos House, Ikeja, demanding the implementation of pension increases and wage awards.”
The retirees, who reportedly encountered law enforcement agents, are also said to have called for the payment of outstanding pension arrears and other benefits owed to them.
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What PenCom is saying
Reacting to the concerns, PenCom stated that it recognises the importance of ensuring that retirees receive all benefits legitimately due to them and appreciates the concerns arising from delays in implementing any approved pension adjustments.
- “PenCom has engaged with the Lagos State Government and the Lagos State Pension Commission (LASPEC) on matters related to the administration of pensions under the CPS, including the need to extend appropriate pension adjustments to eligible CPS retirees,” the statement partly reads.
The Commission explained that implementing pension enhancements involves determining eligibility, applicable adjustments, actuarial liability, funding, and providing relevant data and instructions to pension operators.
- “PenCom is engaging the relevant stakeholders to ensure that these processes are properly addressed,” the Commission added.
PenCom assured stakeholders that it will continue to work with the Lagos State Government, LASPEC, Pension Fund Administrators (PFAs), and representatives of pensioners towards a transparent, orderly, and sustainable resolution of the issues.
PenCom also reiterated its commitment to protecting the interests of pension contributors and retirees while exercising its regulatory and supervisory mandate to ensure compliance with applicable pension laws and regulations.
Get up to speed
The Lagos State Government had recently announced that it had paid a cumulative N168.2 billion to more than 48,000 retirees under the Contributory Pension Scheme since 2007. This included a landmark N5 billion single-batch payment in July 2024 that cleared all outstanding pension backlogs at the time.
The state government disclosed the figures on its official Facebook page, describing the administration’s pension record as the strongest in the state’s history.
LASPEC added that from May 2019 to date, the government has disbursed N92 billion in accrued rights to more than 25,000 retirees.
Accrued rights cover both the gratuity and pension components owed to retiring officers.
What you should know
Despite progress in pension payments, Nigeria still faces a significant challenge in ensuring that workers’ retirement accounts are adequately funded.
In August 2026, PenCom warned that it could miss its 30% Pension Protection and Preservation (PPP) target, as 91% of Retirement Savings Accounts remain unfunded.
The Commission said the situation underscores the need to improve pension participation and ensure that more workers have active, funded retirement accounts.
