President Bola Tinubu has directed the accelerated rollout of free healthcare access for low-income retirees under the Contributory Pension Scheme (CPS), describing the initiative as a vital pillar of social protection and a measure to uphold dignity in retirement.
He also ordered the immediate implementation of long-overdue pension increases and the Minimum Pension Guarantee, which will provide a critical safety net for the most vulnerable pensioners under the CPS.
The President issued the directives after receiving a detailed briefing from Ms. Omolola Oloworaran, Director General of the National Pension Commission (PenCom). He further instructed PenCom to urgently resolve the longstanding police pension issues, emphasizing that officers who dedicate their lives to the service and protection of the nation deserve to retire with dignity and peace of mind.
During the briefing, the PenCom DG outlined ongoing reforms aimed at improving the pension system, including measures to preserve the value of pension fund assets in the face of inflation and macroeconomic pressures. She also presented plans to introduce foreign currency contributions, which would allow Nigerians in the diaspora to participate in the pension system, as well as broader initiatives to enhance retiree welfare and expand the reach of the CPS.
President Tinubu strongly endorsed these reforms, reaffirming his administration’s commitment to inclusive growth, social protection, and the well-being of ordinary Nigerians, particularly those who have spent their lives in public and private service.