Photo: President Bola Tinubu during an official arrival ceremony in Brasilia, Brazil, in August 2025 — Ricardo Stuckert / PR via Wikimedia Commons
President Bola Tinubu on Tuesday launched a minimum monthly pension guarantee of N52,500 for 173,209 retirees, alongside a free healthcare scheme for low-income pensioners, in a move the Presidency said would end a 22-year wait for some retirees.
The measures were unveiled at the State House in Abuja as part of the Presidential Pension Security Initiatives, also known as the "Renewed Hope Pension Programme". They include the PenOp-backed PenCare scheme, offering free healthcare for low-income contributors and retirees, and a one-off N17 billion intervention from the Federal Government.
Under the programme, all pensioners under the Contributory Pension Scheme (CPS) are now guaranteed a minimum monthly pension of N52,500. Pensioners of the Defined Benefit Scheme (DBS) will also receive a minimum pension guarantee of N52,500, together with the N32,000 pension increment earlier announced by the Federal Government.
- Free healthcare (PenCare) for low-income pensioners and contributors
- Minimum monthly pension of N52,500 for 173,209 retirees across the CPS and DBS
- One-off N17 billion Federal Government intervention, plus increased savings for retirees
What the pension and healthcare measures do
Under the Pension Security Initiatives, the Federal Government has approved a one-off N17 billion intervention to raise the pensions of affected retirees. The PenCare scheme will provide free healthcare for low-income pensioners and contributors, while retirees will also benefit from increased savings arising from changes to the pension regime.
The President also directed the National Pension Commission (PenCom) to implement a free healthcare package for low-income retirees and to enforce the pension increment for pensioners under the CPS.
Why Tinubu says the pension changes matter
Tinubu said the changes reflected his administration's commitment to improving the welfare of retirees. He also said the measures were part of a broader promise to ensure dignity for Nigerians who had served the country.
"I am delighted to be a part of this history-making occasion to mark the formal launch of the Presidential Pension Security Initiatives, otherwise called the Renewed Hope Pension Programme," Tinubu said at the launch.
"This initiative is a continuation of my administration's commitment to improving the welfare of our retirees, and to ensuring that those who have served this country retire in dignity, honour and peace of mind," he said.
What happens next
The Federal Government says it will monitor the rollout of the pension guarantee and the PenCare scheme and provide updates as implementation progresses. The measures were announced on November 10, 2026.
Credit: The Sun (Nov 10, 2026).
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