Nigeria: Tinubu Unveils ₦52,500 Minimum Pension for Retirees
The plan ends a 22-year delay and includes free essential healthcare for low-income pensioners, with 173,209 retirees qualifying, officials said.
- On Tuesday, President Bola Tinubu unveiled a N52,500 monthly minimum pension guarantee for 173,209 eligible retirees under the Contributory Pension Scheme, ending a 22-year delay in implementing the Pension Reform Act.
- The guarantee, first provided under the 2004 Pension Reform Act, had remained unimplemented under successive administrations until Tinubu's announcement.
- Director-General of the National Pension Commission Omolola Oloworaran confirmed 173,209 retirees qualify, with 54 per cent from the private sector, supported by N400bn from the Pension Protection Fund.
- The President also inaugurated PenCare, a healthcare plan providing free essential medical services to low-income pensioners, with beneficiaries set to receive healthcare access cards in the coming months.
- PenCom announced plans to expand pension coverage to informal workers including traders, artisans, and farmers, while Tinubu urged future administrations to sustain and raise the guarantee.
19 Articles
19 Articles
Tinubu announces N52,500 minimum monthly pension for Nigerian retirees under CPS
Amid widespread complaints about inadequate pension payments to retirees in the face of rising living costs in Nigeria, President Bola Ahmed Tinubu has announced a minimum pension guarantee of N52,500 monthly under the Contributory Pension Scheme, CPS. Tinubu, during the unveiling of the scheme under the National Pension Commission, PenCom, said the initiative would provide […] Tinubu announces N52,500 minimum monthly pension for Nigerian retire…
Nigeria: Tinubu Unveils ₦52,500 Minimum Pension for Retirees
President Bola Tinubu has unveiled a ₦52,500 monthly minimum pension guarantee for 173,209 eligible retirees under the Contributory Pension Scheme (CPS), ending a 22-year delay in implementing the provision of the Pension Reform Act.
Tinubu unveils ₦52,500 minimum pension for retirees
President Bola Tinubu has unveiled a ₦52,500 monthly minimum pension guarantee for 173,209 eligible retirees under the Contributory Pension Scheme (CPS), ending a 22-year delay in implementing the provision of the Pension Reform Act. The President also inaugurated the Pension Industry Healthcare Plan for Retirees, known as PenCare, designed to provide free essential healthcare services […]
After 12-year delay, Nigeria’s Minimum Pension Guarantee targets retirement poverty
Nigeria’s long-delayed Minimum Pension Guarantee (MPG) is set to provide a critical safety net for retirees whose years of service read more After 12-year delay, Nigeria’s Minimum Pension Guarantee targets retirement poverty
After 22 Years, Tinubu Activates ₦52,500 Minimum Pension Law - Economi Confidential
Twenty-two years after it was first written into law, President Bola Tinubu on Tuesday finally activated the Minimum Pension Guarantee, setting a monthly floor of ₦52,500 for 173,209 retirees under the Contributory Pension Scheme.
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