President Bola Ahmed Tinubu has approved immediate pension increases and the launch of free healthcare for low-income retirees under the Contributory Pension Scheme (CPS).
The order followed a briefing by PenCom Director-General, Ms. Omolola Oloworaran, at the State House, Abuja.
Swift Rollout of Benefits
According to Presidential Adviser Bayo Onanuga, Tinubu said retirees deserve dignity, support, and basic services after years of serving the nation.
“The President directed the expedited rollout of the free healthcare initiative for low-income retirees under the CPS and called for the immediate implementation of pension increases and a minimum pension guarantee,” the statement read.
Police Pension Crisis Addressed
Tinubu also ordered PenCom to fix the longstanding issues affecting police pensions under the CPS.
In July, retired police officers protested in Abuja, blocking the Force Headquarters gate. They demanded to exit the CPS, calling it a “killer scheme.”
They insisted on a meeting with IGP Kayode Egbetokun, who sympathized but said the decision was beyond his office. Similar protests took place in Edo and Kwara States.
Protecting Pension Assets
During the meeting, Oloworaran also presented plans to protect pension funds from inflation and allow diaspora Nigerians to contribute in foreign currencies.
Commitment to Retirees’ Welfare
Tinubu backed PenCom’s reforms and reaffirmed his focus on inclusive growth and elderly welfare.
The move aims to strengthen the pension system, expand access, and improve economic security in retirement.
