In response to recent protests by pensioners under the Contributory Pension Scheme (CPS), President Bola Tinubu has directed the National Pension Commission (PenCom) to implement pension increases and establish a minimum pension guarantee. He also mandated PenCom to expedite the rollout of a free healthcare access initiative for low-income retirees.
A statement from Mr. Bayo Onanuga, the Special Adviser to the President, emphasized that these measures are crucial for providing a safety net for vulnerable pensioners. The President’s directives came after a briefing from PenCom’s Director General, Ms. Omolola Oloworaran.
Tinubu further instructed the DG to address the longstanding police pension issues, highlighting the importance of ensuring that police members can retire with dignity. He supported ongoing efforts to preserve the value of pension fund assets against inflation and discussed plans to introduce foreign currency contributions for Nigerians in the diaspora.
The President reaffirmed his administration’s commitment to inclusive growth and the protection of ordinary Nigerians, while also being briefed on transformative pension initiatives aimed at enhancing retiree welfare.
