PenCom to Launch Minimum Pension Guarantee on November 10
The National Pension Commission (PenCom) announced that the long-awaited Minimum Pension Guarantee will officially start on November 10, marking the end of a 12-year wait since its enactment in the Pension Reform Act 2014. President Bola Ahmed Tinubu is expected to launch this initiative at the inaugural National Pension Week Leadership Summit in Abuja.
The director-general of PenCom, Ms Omolola Oloworaran, stated that the program aims to ensure that no Nigerian retiree who has served the nation should live in poverty. She emphasized that from the program's start date, pensions in Nigeria will have a guaranteed minimum level.
President Tinubu, represented by Secretary to the Government of the Federation, Senator George Akume, affirmed the administration's commitment to honoring the pension guarantee provision, which had not been implemented since the law's enactment. The President also announced the launch of PenCare, a program aimed at providing low-income retirees with access to essential healthcare.
Plus234Feed summary based on reporting from Leadership Newspaper. Read the original report below.
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