President Bola Ahmed Tinubu, GCFR, has directed the accelerated implementation of free healthcare access for low-income retirees under the Contributory Pension Scheme (CPS), describing the initiative as essential to social protection and restoring dignity in retirement.
The President also ordered the prompt implementation of long-overdue pension increases, alongside the rollout of a Minimum Pension Guarantee, aimed at providing a financial safety net for the most vulnerable retirees under the scheme.
These directives followed a strategic briefing delivered at the State House by the Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, who updated the President on ongoing reforms in Nigeria’s pension administration.
President Tinubu stressed the urgency of resolving the longstanding police pension issue, stating that officers who dedicate their lives to national security must be assured a dignified and stable retirement.
> “Those who serve and protect Nigeria deserve peace of mind in retirement. We must ensure fairness and security for all retirees—especially the police,” President Tinubu said.
Ms. Oloworaran also briefed the President on key initiatives to preserve the value of pension fund assets, especially in the current inflationary and macroeconomic environment. Among the new reforms is a proposal to introduce foreign currency contributions, enabling Nigerians in the diaspora to participate in the national pension scheme.
President Tinubu welcomed the reforms, reaffirming his administration’s commitment to inclusive economic growth, financial dignity for retirees, and broader access to social protection mechanisms.
> “This administration remains focused on policies that protect the dignity of ordinary Nigerians and promote equitable prosperity,” the President emphasized.
According to the DG, PenCom is developing a comprehensive suite of transformative initiatives to enhance the welfare of retirees and expand the reach of the pension system to previously underserved populations.
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