President Bola Ahmed Tinubu has directed the rollout of free healthcare access initiative for low-income retirees under the Contributory Pension Scheme (CPS), describing it as a critical component of social protection and dignity in retirement.
He also ordered the immediate implementation of long-overdue pension increases and the establishment of a minimum pension guarantee, designed to provide a safety net for the most vulnerable pensioners under the CPS.
Bayo Onanuga, Special Adviser to the President on Information and Strategy said the President also directed the immediate resolution of the longstanding police pension issue, explaining that the police men who served the nation deserve to retire with dignity.
These directives followed a briefing from the Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran.
During the meeting, President Tinubu reiterated his stance, mandating PenCom to prioritize the resolution of the police pension matter, ensuring peace of mind for retired law enforcement personnel.
The DG also briefed the President on ongoing efforts to ensure the value preservation of pension fund assets, especially in the face of inflation and macroeconomic pressures, as well as plans to introduce foreign currency contributions to enable Nigerians in the diaspora to participate in the pension system
President Tinubu supported the reforms, reaffirming his administration’s commitment to inclusive growth and protection for ordinary Nigerians.
During the briefing, the DG updated the President on a suite of transformative pension initiatives to enhance retiree welfare and expand the Pension Scheme’s reach.
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