The Federal Executive Council has approved a new exit benefit scheme introducing gratuity payments for retiring federal civil servants.
The decision was taken at a council meeting held in Abuja.
Under the arrangement, retiring officers in treasury-funded ministries, departments, and agencies will receive a gratuity equivalent to 100 per cent of their total annual emoluments, representing one year of their salary package.
The benefit will apply to civil servants who have served for at least 10 years and will complement the existing Contributory Pension Scheme.
The scheme was developed following recommendations from an inter-ministerial technical committee involving the Office of the Head of the Civil Service of the Federation, the National Pension Commission, the Budget Office of the Federation, and the Office of the Accountant-General of the Federation.
Implementation guidelines for the new benefit are expected to be issued.
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