5 publishers · first seen Thu, 29 Oct 2026 15:51 UTC · updated Fri, 30 Oct 2026 05:55 UTC
President Bola Tinubu has pledged to implement the long-delayed minimum pension guarantee and expand PenCare, a healthcare support programme for retirees, during National Pension Week 2026 in Abuja. Represented by Secretary to the Government of the Federation George Akume, Tinubu affirmed that pensions are a deferred wage and a national obligation, not a discretionary benefit. He reiterated commitment to the ₦758 billion Federal Government Pension Bond to settle inherited pension liabilities and strengthen the Pension Protection Fund.
PenCom Director-General Omolola Oloworaran confirmed the rollout of PenCare, currently in pilot phase, to help retirees manage medical expenses and preserve pension income. She highlighted that Nigeria’s pension assets grew to ₦31.8 trillion by August 2026, yet many private-sector retirees still earn below minimum wage due to inadequate pensionable earnings. PenCom aims to open three million additional Retirement Savings Accounts within a year and enforce recapitalisation of pension fund administrators by 30 June 2027.
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