President Bola Tinubu has ordered the implementation of pension increment and a minimum pension guarantee for retirees under the Contributory Pension Scheme (CPS), after retired police officers protested in Abuja.
Tinubu also ordered the fast rollout of free healthcare for low-income retirees across the country.
Presidential spokesperson, Bayo Onanuga, disclosed in a statement on Wednesday, said the President gave the directives after receiving a briefing from Omolola Oloworaran, Director General of the National Pension Commission (PenCom).
According to the statement, the President urged the management of PenCom to resolve the longstanding police pension issue immediately, emphasising that members of the Police Force who serve and protect the nation deserve to retire with dignity and peace of mind
The DG of PenCom briefed the President on ongoing efforts to ensure the preservation of the value of pension fund assets, especially in the face of inflation and macroeconomic pressures. She also mentioned plans to introduce foreign currency contributions to enable Nigerians in the Diaspora to participate in the pension system.
The President supported the reforms, reaffirming his administration’s commitment to inclusive growth and protection for Nigerians.
Oloworaran updated the president on several transformative pension initiatives aimed to enhance retiree welfare and expand the pension scheme’s reach.
This comes after police retirees protested in Abuja to demand removal from the Contributory Pension Scheme.
