President Bola Ahmed Tinubu has directed the immediate rollout of a free healthcare access initiative for low-income retirees under the Contributory Pension Scheme (CPS), describing the programme as a vital pillar of social protection and a key step toward ensuring that Nigerians can retire with dignity.
The President issued the directive after receiving a comprehensive briefing at the State House from Ms. Omolola Oloworaran, Director General of the National Pension Commission (PenCom). He emphasized that social security measures such as healthcare and financial protection for retirees are central to his administration’s Renewed Hope Agenda.
Alongside the free healthcare programme, President Tinubu called for the swift implementation of long-overdue pension increases and the activation of a minimum pension guarantee, which will serve as a safety net for the nation’s most vulnerable pensioners under the CPS.
“Those who have served this country deserve to retire in comfort and dignity. We must protect the most vulnerable among them,” the President said, according to the briefing.
In a decisive move to address a persistent concern, the President mandated PenCom to resolve the longstanding police pension challenge without further delay, stressing that members of the police force who dedicate their lives to national security must enjoy peace of mind in retirement.
Ms. Oloworaran also presented the President with updates on value preservation strategies for pension fund assets in the face of inflation and macroeconomic pressures. Among the initiatives highlighted were plans to introduce foreign currency pension contributions, enabling Nigerians in the diaspora to participate in the pension scheme and boost the system’s sustainability.
President Tinubu expressed strong support for the proposed pension reforms, reaffirming his administration’s unwavering commitment to inclusive economic growth and the protection of ordinary Nigerians, particularly senior citizens who rely on the CPS for their livelihood.
The briefing, according to the Presidency, underscores a broader effort to transform Nigeria’s pension landscape through innovative welfare initiatives, enhanced financial security for retirees, and the expansion of coverage to new contributors.
