Following widespread protests by retirees under the Contributory Pension Scheme (CPS) in various parts of the country, including Abuja, President Bola Tinubu has instructed the National Pension Commission (PenCom) to implement pension increases and establish a minimum pension guarantee.

He also directed PenCom to accelerate the launch of a free healthcare programme for retirees with low incomes.

According to a statement by the President’s Special Adviser on Information and Strategy, Mr. Bayo Onanuga, the free healthcare initiative is a crucial element of ensuring social security and dignity for pensioners.

Onanuga noted that the immediate implementation of long-overdue pension increases and a guaranteed minimum pension would serve as a financial cushion for the most vulnerable retirees within the CPS.

The President issued these directives after receiving a briefing from the Director General of PenCom, Ms. Omolola Oloworaran.

He further instructed the PenCom DG to swiftly resolve the persistent issue surrounding police pensions, highlighting that officers who have served the nation should be able to retire with dignity and peace of mind.

The DG also updated the President on ongoing measures to safeguard the value of pension assets amid inflation and economic instability, as well as plans to introduce foreign currency contributions for Nigerians in the diaspora to join the pension system.

President Tinubu expressed strong support for the reforms and reaffirmed his administration’s commitment to inclusive development and the protection of ordinary Nigerians.

During the meeting, the DG outlined a series of groundbreaking pension initiatives aimed at improving the welfare of retirees and expanding the reach of the pension programme.