President Tinubu Orders Fast-Tracked Pension Reforms and Healthcare for Retirees
By Patience Ikpeme
President Bola Tinubu has ordered the fast-tracking of several pension reforms, including the rollout of free healthcare for low-income retirees under the Contributory Pension Scheme (CPS).
A statement from the President’s spokesman, Bayo Onanuga, said President Tinubu called the initiative a vital part of ensuring social protection and dignity for retirees.
The directives were given after the President received a briefing from Ms. Omolola Oloworaran, the Director General of the National Pension Commission (PenCom).
In addition to the healthcare initiative, the President called for the swift implementation of long-overdue pension increases and a minimum pension guarantee. This is designed to create a financial safety net for the most vulnerable pensioners within the CPS.
President Tinubu also gave a strong directive for the urgent resolution of the longstanding police pension issue. He stated that members of the police force, who serve and protect the nation, deserve to retire with dignity and peace of mind.
During her briefing, the PenCom DG updated the President on other key initiatives. These include ongoing efforts to protect the value of pension fund assets from inflation and other economic pressures. She also discussed plans to introduce foreign currency contributions, which would allow Nigerians living in the diaspora to participate in the country’s pension system.
President Tinubu offered his full support for these reforms, which he sees as a part of his administration’s commitment to inclusive growth and the protection of ordinary Nigerians.
The DG also informed the President about a range of other transformative initiatives PenCom is working on to improve the welfare of retirees and expand the reach of the pension scheme.
