Additional Pension Benefits (APB) is a one off payment upon retirement to bridge the gap and cushion the disparities between the Defined Benefit Scheme (DBS) and the Contributory Pension Scheme (CPS), for those who retired from civil service in July 2, 2025, when CPS became fully implemented, to give succor to them.

This assertion was made by the Permanent Secretary, Bureau of State Pensions, Mrs. Arinola Adetayo, during a media briefing organised by the Ministry of Information and Strategy in conjunction with the Bureau of State and Local Government Pensions on the Scheme at the Governor's office Press center Oke- Mosan, Abeokuta.

She said that APB is a sustainable method to prevent pension crisis and strengthen confidence in the CPS, adding that the benefits would be calculated using a graded percentage of a retiree's Total Annual Emolument (TAE), based on length of service.

‎  Adetayo explained that, there were four institutions in the pension industry namely: National Pension Commission (PENCOM), who regulates the pension industry; Pension Funds Administrators (PFAs), manager of funds and Pension Funds Custodians (PFCs) safeguarding pension assets.

‎   Her counterpart in the Local Government Pensions, Engr. Olufisan Osiyale, stated that retirees would be receiving 116 percent and 280 percent of their Total annual emolument as Additional Pension Benefits (APB) and this payment would be made directly to retirees' account at the point of exit.

‎  He revealed that Ogun State was the first to introduce the Additional Pension Benefits aimed at upholding the confidence and dignity of the retirees in the scheme, urging the media to enlighten the public on the  efforts of the State Government towards improving the welfare of the retirees.

Engr. Osiyale, posited that the present administration has recorded notable achievements for retirees under CPS and this include: payment of 100 percent net salary as palliative for retirees who retired between July 2nd and December 31st 2025; payment of year 2025 Christmas bonus to retirees; and regular remittance of employer/ employee pension contributions.

‎ Speaking earlier, the Permanent Secretary, Ministry of Information and Strategy, Mr. Waheed Adeshina, said that the purpose of the media briefing was to reach out to the public through the media in order to clear the misconceptions surrounding the CPS and APB, adding that Government has paid over N5 billion to the Pension Funds Administrators (PFAs) for the scheme, imploring the media to continue to create needed awareness on the policies and programmes of the State Government.