Tinubu unveils N52,500 minimum pension for 173,209 retirees
President Bola Tinubu has unveiled a N52,500 monthly minimum pension guarantee for 173,209 eligible retirees under the Contributory Pension Scheme. Read More: https://punchng.com/tinubu-unveils-n52500-minimum-pension-for-173209-retirees/
President Bola Tinubu announced on Tuesday a minimum monthly pension guarantee of N52,500 for 173,209 eligible retirees under the Contributory Pension Scheme. This provision, mandated by the Pension Reform Act since 2004, had been delayed for 22 years. Tinubu inaugurated the Pension Industry Healthcare Plan for Retirees, or PenCare, which will offer free essential healthcare services to low-income pensioners.
Speaking at the Presidential Pension Security Initiatives ceremony in Abuja, Tinubu declared the minimum pension guarantee effective, vowing that no pensioner would fall below this threshold. He also underscored the importance of maintaining and potentially raising the guarantee in future administrations.
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