Tinubu Issues Warning on Pension Contributions to Employers

President Bola Ahmed Tinubu warned employers against failing to remit workers’ pension contributions, labeling it a breach of trust. He made this statement on Thursday at the inaugural National Pension Week Leadership Summit at Transcorp Hilton, Abuja, where he was represented by Secretary to the Government of the Federation, Senator George Akume.

The President emphasized that pension is a national obligation and announced the approval of a N758 billion Federal Government Pension Bond to address deferred pension obligations. Tinubu also stated that his administration would implement the Minimum Pension Guarantee provision of the Pension Reform Act 2014, which has not been honored since its enactment over 11 years ago.

Additionally, he launched PenCare, a national retiree wellbeing program aimed at providing low-income retirees with access to essential healthcare. Tinubu urged the National Pension Commission to enforce the law and called on employers to remit contributions promptly, stressing that failure to do so is a breach of trust.