President Bola Tinubu has said that the payment of monthly pensions to retirees is not a favour granted by his administration.
Tinubu made the assertion during the unveiling of PenCare in Abuja on Thursday.
The President, who was represented by the Secretary to the Government of the Federation, SGF, George Akume, said pensions are wages earned, deferred and held in trust for retirees.
"A pension is not a favour granted by Government. It is a wage earned, deferred and held in trust. It is a promise. And this administration has resolved that the promise will be kept,” the President said.
In her remarks, the Director-General of the National Pension Commission, PenCom, Omolola Oloworaran, called for the creation of three million new funded pension accounts.
"Not registrations, three million funded active accounts, new accounts. Because an empty account is a statistic, but a funded account is a future and might just be the beginning of planning the security of that future,” she stated.