President Bola Tinubu has ordered the immediate implementation of overdue pension increases and the rollout of free healthcare access for low-income retirees under the Contributory Pension Scheme.
The directive, which forms part of the administration’s broader social protection agenda, was issued after a briefing by the Director-General of the National Pension Commission, Ms Omolola Oloworaran, at the State House in Abuja.
According to a statement signed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, on Wednesday, the President emphasised that retirees, particularly those with limited means, deserve dignity, support, and access to basic services after years of service to the nation.
“The President directed the expedited rollout of the free healthcare initiative for low-income retirees under the CPS and called for the immediate implementation of pension increases and a minimum pension guarantee,” the statement read.
President Tinubu also ordered PenCom to resolve the longstanding issue surrounding police pensions, stressing that personnel who serve and protect the nation must retire with dignity and peace of mind.
Retired police officers under the Contributory Pension Scheme, in late July, marched from the National Assembly and shut the main gate of the Force Headquarters in Abuja for hours, demanding that the police be removed from the CPS, which they say has trapped them in poverty.
The elderly ex-officers refused repeated pleas to disperse until they secured a meeting with the Inspector-General of Police, Kayode Egbetokun. The IGP sympathised with the retirees and insisted he was not opposed to the police exiting the CPS if that would solve the problem but stressed the decision lay beyond his office. Police retirees also protested in Edo and Kwara States, labelling the CPS “a killer scheme”.
During the State House briefing, Oloworaran also presented updates on ongoing efforts to safeguard the value of pension fund assets amidst rising inflation and economic pressures. She further outlined plans to enable Nigerians in the diaspora to participate in the pension system through foreign currency contributions.
The President expressed strong support for the Commission’s reforms, reaffirming his administration’s commitment to inclusive economic growth and improved welfare for all Nigerians, especially the elderly and vulnerable.
The move marks a significant step in efforts to strengthen the nation’s pension system and expand its coverage to ensure social and economic security in retirement.(Punch)
