President Bola Tinubu has approved a ₦758 billion Federal Government Pension Bond to settle outstanding accrued pension rights and strengthen the Pension Protection Fund, as part of efforts to improve retirees’ welfare.

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‎Tinubu announced this at the inaugural National Pension Week Leadership Summit in Abuja, where he reaffirmed his administration’s commitment to ensuring that Nigerians who served the country are not abandoned in retirement. He was represented by the Secretary to the Government of the Federation, George Akume.

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‎The President said the bond was intended to address delays that had left retirees waiting for years to receive their entitlements, describing the intervention as a step towards restoring dignity and justice to former public servants.

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‎He also announced plans to implement the Minimum Pension Guarantee, a provision of the Pension Reform Act 2014 that has remained unimplemented since the law was enacted.

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‎Tinubu further unveiled PenCare, a national retiree welfare programme designed to provide access to essential healthcare services, initially targeting low-income pensioners.

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‎He charged the National Pension Commission (PenCom) to enforce pension laws fairly and firmly, while urging public and private sector employers to remit pension contributions fully and promptly.

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‎The President also called on Pension Fund Administrators and custodians to improve investment performance, manage risks responsibly and protect retirement savings against the effects of inflation.

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‎Tinubu urged state governments, organised labour and other stakeholders to expand pension coverage to traders, artisans, farmers, transport workers and other self-employed Nigerians through the Personal Pension Plan.

He stressed that the success of the pension system should be measured by the security and dignity it provides retirees.