President Tinubu Orders Swift Rollout Of Free Healthcare For Low-Income Retirees And Pension Reforms.
President Bola Tinubu has announced a series of bold reforms aimed at enhancing the welfare of retirees, directing the immediate implementation of free healthcare access for low-income retirees under the Contributory Pension Scheme (CPS). Describing the initiative as a cornerstone of social protection, the President underscored its importance in ensuring dignity for those in retirement.
The directive, issued following a briefing by Ms. Omolola Oloworaran, Director General of the National Pension Commission (PenCom), also includes the prompt rollout of long-overdue pension increases and the establishment of a minimum pension guarantee. These measures aim to provide a vital safety net for Nigeria’s most vulnerable pensioners, addressing financial hardships exacerbated by economic challenges.
President Tinubu further instructed PenCom to urgently resolve longstanding issues surrounding police pensions, emphasising that officers who dedicate their lives to protecting the nation deserve to retire with dignity and financial security. “Members of the police force serve with courage and sacrifice,” the President stated, highlighting the need for swift action to address their pension concerns.
During the briefing, Ms. Oloworaran outlined ongoing efforts to safeguard pension fund assets against inflation and macroeconomic pressures, ensuring their long-term value. She also revealed plans to introduce foreign currency contributions, enabling Nigerians in the diaspora to participate in the CPS, a move set to broaden the scheme’s reach and inclusivity.
The President expressed strong support for these reforms, reaffirming his administration’s commitment to fostering inclusive growth and protecting ordinary Nigerians. The initiatives reflect a broader push to transform the pension system, making it more responsive to the needs of retirees and adaptable to Nigeria’s evolving economic landscape.
These measures mark a significant step towards improving retiree welfare, addressing systemic issues in the pension sector, and ensuring that Nigeria’s elderly population can live with dignity. As the government moves to implement these reforms, the focus remains on delivering tangible benefits to retirees and strengthening the nation’s social safety net.