Tinubu Announces Pension Increase and Free Healthcare for Low-Income Retirees.
In a significant move to support retirees, President Bola Tinubu has mandated the implementation of a long-awaited pension increase alongside the introduction of free healthcare services for low-income retirees under the Contributory Pension Scheme (CPS).
The announcement was made during a briefing with Omolola Oloworaran, the Director General of the National Pension Commission (PenCom).
President Tinubu approved an average pension increase of ₦32,000, with a minimum pension guarantee aimed at assisting the most vulnerable pensioners.
Emphasizing the urgency of the matter, the President stated the need for immediate actions to alleviate the financial burdens faced by retirees, particularly in light of escalating living costs.
He further instructed PenCom to prioritize the resolution of the enduring police pension issue, underscoring that those who served the nation in uniform deserve to retire with dignity and assurance.
During the briefing, the PenCom DG outlined ongoing initiatives aimed at safeguarding pension assets from inflation and economic volatility. Additionally, she presented a new plan to enable Nigerians residing abroad to contribute to the pension scheme using foreign currency.
President Tinubu expressed support for these reforms, reiterating his administration’s commitment to promoting inclusive welfare policies that benefit all Nigerians, with particular attention to the elderly and vulnerable populations.
