Reacting to nationwide protests by pensioners under the Contributory Pension Scheme (CPS), President Bola Tinubu has ordered immediate reforms through the National Pension Commission (PenCom) to improve pension payments and ensure healthcare for retirees.
The President’s directive includes two major pillars: the implementation of increased pension benefits, including a minimum pension guarantee, and the swift rollout of free healthcare access for low-income retirees.
Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, noted that the healthcare program forms a “critical component of social protection and dignity in retirement.” He also explained that these reforms are aimed at “providing a safety net for the most vulnerable pensioners.”
The directive came after a detailed briefing from the Director General of PenCom, Ms. Omolola Oloworaran. She outlined the ongoing struggles faced by retirees, including stagnant benefits and economic pressures from inflation.
President Tinubu also ordered urgent resolution of unresolved pension issues within the police force. He stated that, “members of the police force who serve and protect the nation deserve to retire with dignity and peace of mind.”
Ms. Oloworaran also informed the President of PenCom’s broader strategy to ensure pension fund sustainability, including plans for diaspora contributions in foreign currency—a move expected to widen the pension scheme’s participation base.
President Tinubu expressed his strong support for the commission’s reforms and reiterated his government’s dedication to inclusive policies that safeguard vulnerable populations.
This intervention may serve as a turning point for pensioners under CPS, whose plight has remained a national concern for years.