Photo caption: Ms. Omolola Oloworaran and President Bola Ahmed Tinubu
By Charles Okonji
As part of actualization of the Renewed Hope Agenda of the Federal Government, President Bola Tinubu has directed the expedited rollout of the free healthcare access initiative for low-income retirees under the Contributory Pension Scheme (CPS), describing it as a critical component of social protection and dignity in retirement.
Tinubu however instructed an urgent implementation of long-overdue pension increases and a minimum pension guarantee, adding that it would provide a safety net for the most vulnerable pensioners under the CPS.
He gave the directives after receiving a briefing from Ms. Omolola Oloworaran, the Director General of the National Pension Commission (PenCom).
The President further mandated the PenCom DG to urgently resolve the longstanding police pension issue, emphasising that members of the police force who serve and protect the nation deserve to retire with dignity and peace of mind.
President Tinubu strongly supported the reforms, reaffirming his administration’s commitment to inclusive growth and protection for ordinary Nigerians.
Eatlier, the DG briefed the President on ongoing efforts to ensure the value preservation of pension fund assets, especially in the face of inflation and macroeconomic pressures, as well as plans to introduce foreign currency contributions to enable Nigerians in the diaspora to participate in the pension system
During the briefing, the DG updated the President on a suite of transformative pension initiatives to enhance retiree welfare and expand the Pension Scheme’s reach.
