President Bola Tinubu has directed expedited rollout of the free healthcare access initiative for low-income retirees under the Contributory Pension Scheme (CPS), describing it as a critical component of social protection and dignity in retirement.
The President also called for the prompt implementation of long-overdue pension increases and a minimum pension guarantee, which would provide a safety net for the most vulnerable pensioners under the CPS.
According to a statement by presidential spokesman, Bayo Onanuga on Wednesday, the President gave the directives after receiving a briefing from Ms. Omolola Oloworaran, the director general of the National Pension Commission (PenCom).
Tinubu further mandated PenCom DG to urgently resolve the longstanding police pension issue, emphasising that members of the police force who serve and protect the nation deserve to retire with dignity and peace of mind.
The DG also briefed the President on ongoing efforts to ensure the value preservation of pension fund assets, especially in the face of inflation and macroeconomic pressures, as well as plans to introduce foreign currency contributions to enable Nigerians in the diaspora to participate in the pension system
The president strongly supported the reforms, reaffirming his administration’s commitment to inclusive growth and protection for ordinary Nigerians.
During the briefing, the DG updated the President on a suite on transformative pension initiatives to enhance retirees’ welfare and expand the Pension Scheme’s reach.
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