News Investigators/ President Bola Tinubu has tasked the National Pension Commission (PenCom) and employers with strengthening pension security and ensuring the prompt remittance of pension contributions to protect workers’ retirement benefits.
Tinubu gave the charge at the 2026 National Pension Week, tagged “The National Pension Conference and Awards, Leadership, Excellence and Recognition” on Thursday in Abuja.
Tinubu, who was represented by Sen. George Akume, Secretary to the Government of the Federation (SGF), said the move is aimed at addressing pension obligations and improving the welfare and dignity of Nigerian pensioners.
He described pensions as an obligation rather than a favour, stressing that the government was committed to ensuring that retirees received the benefits due to them.
According to him, the theme of the event, “Pensions for All: Building a Secure Future Together,” reflects a national responsibility to guarantee a dignified retirement for every Nigerian.
The President said the approval of N758 billion by government was intended to settle accrued pension rights and strengthen pension protection for retirees who had waited for years to receive their entitlements.
He added that the introduction of the Minimum Pension Guarantee, provided for under the Pension Reform Act 2014, alongside a healthcare programme for low-income retirees, would mark a shift towards a pension system that prioritised retirees’ welfare.
“A pension is not a favour granted by government; it is a wage earned and held in trust. It is a promise, and this administration has resolved that the promise will be kept,” he said.
Tinubu said a strong pension system would not only provide income security in retirement but also mobilise long-term domestic savings, deepen financial markets, support productive investment and contribute to sustainable national development.
He, however, acknowledged that rising living costs, inadequate retirement income, gaps in income protection and employers’ non-compliance with pension contribution requirements remained major concerns.
The President called on pension fund administrators and custodians to strengthen investment expertise, diversify responsibly, reduce costs and improve accountability.
He warned that pension assets should not be treated merely as figures on balance sheets, noting that they represented the deferred wages, sacrifices and hopes of millions of Nigerian workers.
According to him, the funds must be managed with the highest standards of governance, transparency, accountability and risk management.
Earlier, the Head of the Civil Service of the Federation, Olumuyiwa Abel, said the government’s pension reforms aligned with President Tinubu’s Renewed Hope Agenda to improve the welfare of Nigerians.
Abel said pensioners had contributed significantly to national development and deserved recognition, appreciation and adequate support in retirement.
“Our pensioners have worked, they have toiled and have contributed to the building of this nation. So, they deserve to be recognised, rewarded and appreciated,” he said.
He expressed optimism that the welfare of pensioners would improve under the leadership of PenCom’s Director-General, urging the commission to sustain its efforts towards better retirement outcomes.
Abel also described retirement as a transition to a new phase of life rather than a period of uncertainty, stressing the need for retirees to enjoy the benefits of their years of service.
The 2026 National Pension Week brought together pension industry stakeholders to deliberate on pension coverage, compliance, investment performance and measures to improve retirement security in Nigeria.
The programme also featured the symbolic presentation of cheques to 5 selected beneficiaries as a demonstration of the government’s recognition of workers’ contributions to national development.
NAN