The National Pension Commission (PenCom) says it has approved the increase of monthly pensions for retirees on “programmed withdrawal” under the contributory pension scheme (CPS).
The commission said this in a statement issued recently.
According to PenCom, this is the third edition of pension enhancement under the CPS.
PenCom also said the new increase will take effect in February, 2023.
However, it urged all eligible retirees to contact their pension fund administrators (PFAS) to complete all required documentation.
