New ₦52,500 Pension Floor Announced for 173,209 Retirees
ABUJA — The federal government has announced a monthly minimum pension of ₦52,500 for 173,209 eligible retirees under Nigeria’s Contributory Pension Scheme.
President Bola Tinubu was represented by Senate President Godswill Akpabio at the Presidential Pension Security Initiatives ceremony in Abuja on Tuesday. At the event, National Pension Commission Director-General Omolola Oloworaran said the guaranteed floor had been fixed at ₦52,500 per month.
PenCom said 34 per cent of the identified beneficiaries are federal retirees, 12 per cent are from participating states and 54 per cent are private-sector retirees. The guarantee is intended to ensure that qualifying pensioners do not receive less than the stated monthly amount, although individual eligibility remains governed by the scheme’s rules.
The government also introduced PenCare, a healthcare programme for low-income retirees. Officials said access cards would be issued in the coming months, but further operational details — including participating facilities and the precise eligibility process — will be important for pensioners.
The minimum-pension provision has existed in pension legislation for years but had not been put into operation. The announcement therefore represents a policy commencement rather than evidence that every beneficiary has already received the higher payment.
MBTV will monitor PenCom’s implementation timetable and guidance to pension fund administrators. Retirees should rely on formal notices from PenCom or their pension administrator and should not pay intermediaries claiming they can secure enrolment.
Sources: Punch report from the official ceremony; National Pension Commission statements delivered at the event.
Featured image: illustrative stock photograph by Ernesto Carrazana/Unsplash; it does not depict a named beneficiary.
