By Habeeb Ibrahim
President Bola Tinubu has introduced two initiatives aimed at improving the welfare of retired Nigerian workers, including a minimum income guarantee and free access to essential healthcare for low-income pensioners.
The initiatives, known as the Minimum Pension Guarantee Scheme and PensionCare, were unveiled at the State House in Abuja on Tuesday, November 10, 2026.
Tinubu, who was represented at the launch by Senate President Godswill Akpabio, said the measures were designed to ensure that Nigerians who spent years in public service would have greater financial security and access to healthcare after retirement.
The Minimum Pension Guarantee Scheme is expected to provide eligible retirees under the Contributory Pension Scheme with a guaranteed minimum income, ensuring that their pension payments do not fall below an established threshold.
According to the President, the scheme, which takes immediate effect, will be administered by the National Pension Commission (PenCom).
He noted that although the provision was contained in Section 71 of the Pension Reform Act 2004 and reinforced by Sections 82 and 84 of the 2014 Act, its implementation had been delayed for more than two decades.
Tinubu described the initiative as a statutory right of Nigerian workers and urged future administrations to sustain its implementation.
Alongside the pension guarantee, the President unveiled PensionCare, a healthcare programme funded by the pension industry to provide essential medical services to low-income retirees at no cost.
He said the initiative would help reduce the financial burden of medical expenses on pensioners, particularly those struggling to meet healthcare costs in old age.
The first batch of PensionCare cards is expected to be distributed to beneficiaries in the coming months.
Tinubu also highlighted other measures taken by his administration to address pension-related challenges, including the issuance of a N758 billion bond to clear outstanding pension obligations.
He further disclosed that the Federal Government approved a monthly consequential adjustment of N32,000 for federal pensioners whose earnings were below the national minimum wage.
The President added that pensioners under the Nigeria Social Insurance Trust Fund, who previously received as little as N18,000 monthly, now collect N206,000.
However, the launch comes amid renewed concerns over the welfare of retired police officers under the Contributory Pension Scheme.
Retired police officers have been protesting at the National Pension Commission headquarters in Abuja since November 1, demanding the implementation of an alternative pension arrangement known as Option B.
The officers, who said they had endured 16 years of negotiations and unfulfilled promises, warned that they would continue their protest until the government takes concrete steps to address their demands.
Their position highlights the continuing concerns surrounding pension administration and the need to ensure that retirement benefits adequately support former public servants.
The new initiatives are expected to form part of the Federal Government’s broader social protection efforts, although details of the minimum pension threshold and the eligibility requirements for PensionCare beneficiaries are yet to be fully outlined.
