Exit Benefit Scheme (EBS)
The Federal Government has approved the implementation of the Exit Benefit Scheme (EBS) for eligible employees of Treasury-funded Ministries, Departments and Agencies (MDAs) under the Contributory Pension Scheme (CPS).
The Exit Benefit is a benefit payable to eligible retirees under the Scheme upon verification and confirmation of the required information and documentation. For eligible retirees, the benefit is based on the applicable provisions of the Scheme and the retiree’s verified employment and remuneration records.
The Scheme provides an exit benefit for eligible employees retiring from Treasury-funded MDAs, in line with the provisions of the Pension Reform Act (PRA) 2014.
Eligibility
- The Exit Benefit Scheme applies to eligible employees of Treasury-funded Federal Government Ministries,
- Eligible retirees and beneficiaries are encouraged to contact their Pension Fund Administrator (PFA) and submit the required documentation for processing.
Requirements
To commence the processing of your Exit Benefit, please submit the following documents:
- Exit Benefit Scheme Letter of Clearance/Non-Indebtedness issued by your MDA.
- Last Payslip immediately preceding your month of retirement.
NB: Important Payslip Details
To support a smooth and timely verification process, please ensure that your last payslip clearly shows:
- Total Gross Monthly Salary
- Salary Bank Account Number
- Bank Name
Where any of these details are missing or unclear, you may be required to provide additional documentation or clarification.
How to Apply
- Eligible retirees should visit any CrusaderSterling Pensions office to submit the required documents and commence the processing of their Exit Benefit.
- Our customer service team will guide you through the process and provide assistance where required.
