Tinubu Promises Pension Reforms and Minimum Guarantee

President Bola Ahmed Tinubu emphasized that pensions are earned wages and not favors from the government during the inaugural National Pension Week Leadership Summit at Transcorp Hilton, Abuja. He was represented by the Secretary to the Government of the Federation, Senator George Akume.

Tinubu announced the implementation of the Minimum Pension Guarantee provision of the Pension Reform Act 2014, which has never been enacted since its introduction over 11 years ago. He acknowledged the pension obligations he inherited, which had left retirees waiting for their rights for years.

To address this, he approved a N758 billion Federal Government Pension Bond aimed at settling these accrued rights and strengthening the Pension Protection Fund. Additionally, he launched PenCare, a national retiree wellbeing program to provide low-income retirees with essential healthcare.

Tinubu described a robust pension system as vital for social protection and economic transformation, urging the National Pension Commission to enforce laws diligently and calling on employers to remit workers' contributions promptly.