Nigeria, Feb. 28 -- The Federal Government has allocated N107 billion to the Pension Protection Fund (PPF) in a bid to safeguard the financial security of low-income retirees under the Contributory Pension Scheme (CPS).

This is part of the N758 billion bond approved by the Federal Government to clear outstanding liabilities under the Contributory Pension Scheme while enhancing retirement benefits for vulnerable pensioners.

The Director General of the National Pension Commission (PenCom), Omolola Oloworaran, disclosed this at a press conference in Abuja on Thursday after the Quarterly PenCom/Operators Consultative Forum.

According to her, including the PPF in the settlement plan reflects the administration's recognition of the economic ...