President Bola Tinubu has approved free healthcare for low-income retirees under the Contributory Pension Scheme (CPS), describing it as a vital step in ensuring dignity and protection for Nigerians after retirement.
The President also ordered an immediate review and implementation of long-overdue pension increases. He stressed the need for a minimum pension guarantee to serve as a safety net for the most vulnerable pensioners under the scheme.
According to presidential spokesman Bayo Onanuga, the directive came after Tinubu received a detailed briefing from the Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, at the State House on Wednesday.
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The President expressed particular concern over the unresolved police pension challenges and instructed PenCom to address the matter without delay. “Police officers who dedicate their lives to protecting the nation should not face hardship in retirement,” he said.
Ms. Oloworaran also briefed the President on new plans to preserve the value of pension funds amid rising inflation and economic pressure. She revealed ongoing efforts to allow foreign currency contributions, which would enable Nigerians living abroad to participate in the pension scheme.
Tinubu praised the initiatives and reaffirmed his government’s commitment to inclusive growth, welfare of retirees, and policies that protect the most vulnerable citizens.
