President Bola Ahmed Tinubu has approved the implementation of a free healthcare initiative for low-income retirees enrolled under the Contributory Pension Scheme (CPS).
The President described the move as a vital step in strengthening social protection and ensuring dignity for Nigerians in retirement.
The directive, announced after a high-level briefing with the Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, also includes the long-awaited implementation of pension increases and the introduction of a minimum pension guarantee.
These measures are designed to create a financial safety net for vulnerable pensioners.
President Tinubu also ordered an immediate resolution to the persistent pension issues affecting retired police officers. He emphasized the importance of ensuring that those who have dedicated their careers to national security can retire with dignity and peace of mind.
During the meeting, Ms. Oloworaran presented several ongoing reforms within the pension sector, including strategies to protect the value of pension fund assets against inflation and economic instability.
She also outlined plans to introduce foreign currency pension contributions, which would allow Nigerians in the diaspora to participate in the national pension scheme.
President Tinubu expressed strong support for the proposed reforms, reiterating his administration’s commitment to inclusive growth and the protection of the most vulnerable citizens.
The new initiatives are expected to expand the reach and impact of the CPS, ensuring broader coverage and greater financial security for Nigerian retirees.
