Monthly pension is not favour to retirees - Tinubu

President Bola Tinubu has stated that providing monthly pensions to retirees is not an act of favor from his administration. During the inauguration of PenCare in Abuja on Thursday, the President, represented by SGF George Akume, emphasized that pensions are wages that have been deferred and set aside in trust for retirees. Tinubu reiterated that a pension is not a favor granted by the government; it is a promise that the administration is committed to keeping.

Omolola Oloworaran, the Director-General of the National Pension Commission (PenCom), also addressed the issue, urging the creation of three million new funded pension accounts. She stressed that an empty account is merely a statistic, whereas a funded account represents a future and could be the starting point for securing that future.

The President's stance on monthly pensions underscores the administration's commitment to fulfilling its promised obligations to retirees.