Tinubu Promises Minimum Pension Guarantee and Wider Retiree Healthcare Support

President Bola Tinubu has pledged to implement the Minimum Pension Guarantee and expand healthcare support for eligible retirees, according to Premium Times coverage of the National Pension Conference and Awards in Abuja on Thursday, 29 October. Secretary to the Government of the Federation George Akume represented him at the event.

The guarantee is provided for under the Pension Reform Act 2014. Its implementation would address a central concern for retirees whose pension income is insufficient, but the report does not specify a new minimum monthly payment. Benefit amounts and operating arrangements remain dependent on guidelines from the National Pension Commission.

Tinubu also backed an expansion of PenCare, a retiree healthcare-support programme. Premium Times reported that the initial rollout targets 30,000 retirees and is jointly funded by PenCom and participating pension-fund operators. The announcement should not be read as universal health coverage for every pensioner.

The president reiterated support for a ₦758 billion Federal Government Pension Bond, described as approved to address outstanding accrued pension rights and strengthen the Pension Protection Fund. Approval of that instrument is distinct from evidence that every entitled retiree has received a payment.

PenCom Director-General Omolola Oloworaran said pension assets had increased from ₦20.79 trillion in July 2024 to ₦31.8 trillion in August 2026. These are figures attributed to the regulator in the conference report, rather than an independent assessment of fund performance.

For pensioners, the practical questions are eligibility, the size of the guarantee, when benefits will begin and how to access PenCare. The material reviewed does not resolve all of these. Retirees should therefore treat the conference commitments as policy pledges, not as a notice that a particular new payment has already started.

Source checked on 30 October 2026: Premium Times, 29 October — https://www.premiumtimesng.com/business/business-news/921439-no-retiree-will-be-forgotten-tinubu-promises-pension-reforms.html

Image: AI-generated illustration, not a photograph of this event.