Checkout Magazine has learnt that succour is on the way for low-income retirees under the Contributory Pension Scheme (CPS). They are to enjoy access to free healthcare soon.
President Bola Ahmed Tinubu gave the directive yesterday for the immediate rollout of the scheme for the retirees.
He described the initiative as a critical component of social protection and dignity in retirement.
The President announced the programme after being briefed on the activities of the National Pension Commission (PenCom) by its Chief Executive Ms. Omolola Oloworaran, at the State House in Abuja.
According to presidential spokesman Mr. Bayo Onanuga, the President called for the prompt implementation of the long-overdue pension increases and a minimum pension guarantee, which would provide a safety net for the most vulnerable pensioners under the CPS.
The statement quoted the President as mandating the PenCom director-general to urgently resolve the longstanding police pension issues, emphasising that members of the police force deserve to retire with dignity and peace of mind after serving and protecting the nation.
Ms. Oloworaran briefed the President on ongoing efforts to ensure the value preservation of pension fund assets, especially in the face of inflation and macroeconomic pressures.
She stated that there are plans to introduce foreign currency contributions to enable Nigerians in the diaspora to participate in the pension system.
The PenCom boss also updated the President on a suite of transformative pension initiatives to enhance retiree welfare and expand the pension scheme’s reach.
The proposed reform got the backing of the President, who reaffirmed his administration’s commitment to inclusive growth and protection for all citizens.
