President Tinubu Orders Free Healthcare for Low-Income Retirees, Approves Pension Reforms
President Bola Tinubu has directed the immediate rollout of a free healthcare initiative for low-income retirees under the Contributory Pension Scheme (CPS), describing the measure as vital for social protection and dignity in retirement.
The President also mandated the swift implementation of long-delayed pension increases and a minimum pension guarantee to provide a safety net for the most vulnerable retirees under the CPS.
Police Pension Issue to Be Resolved Urgently
During a briefing with Ms. Omolola Oloworaran, Director General of the National Pension Commission (PenCom), President Tinubu also instructed the urgent resolution of the longstanding police pension issue.
He emphasized that members of the police force, who dedicate their lives to national service, must be able to retire with dignity and peace of mind.
Safeguarding Pension Assets Amid Inflation
The PenCom DG briefed the President on measures being taken to protect the value of pension assets amid rising inflation and macroeconomic challenges. Plans were also shared to introduce foreign currency pension contributions, allowing Nigerians in the diaspora to participate in the nation’s pension system.
Inclusive Growth and Protection
President Tinubu expressed strong support for the ongoing pension reforms and reiterated his administration’s commitment to inclusive economic growth and protection for all Nigerians, especially retirees and low-income earners.
According to PenCom, a broader set of initiatives is in motion to enhance the welfare of pensioners and expand the reach of the scheme nationwide.
