“The Defence Headquarters prioritises life after service, especially for those who have put in 20 to 30 years,” said Mr Bello.
She said that the policy marked a significant milestone in the commission’s ongoing efforts to provide greater flexibility and access to pension funds for the benefit of RSA holders.
Suggestion on the 75 per cent lump sum was made in the Pension Reform Amendment Bill currently before the National Assembly.
Pension assets transferred among pension fund administrators (PFAs) as of June 2021 were valued at N47.8 billion.
The accrued pension benefits of about N1.3 billion is for the month of September.
The commission stated that pension fund assets rebounded in March 2021, having dropped for two months.
