President Bola Ahmed Tinubu has ordered the immediate rollout of free healthcare for low-income retirees under the Contributory Pension Scheme (CPS), describing it as a vital component of social protection and dignity in retirement.
He also directed the prompt implementation of long-overdue pension increases and a minimum pension guarantee, which would provide a safety net for the most vulnerable pensioners under the Contributory Pension Scheme.
According to a statement issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy on Wednesday, the President gave these directives after receiving a briefing from the Director-General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran.
Police pension issues must be resolved urgently, says Tinubu
President Tinubu further mandated the PenCom DG to urgently resolve the longstanding police pension issue, emphasizing that members of the police force who serve and protect the nation deserve to retire with dignity and peace of mind.
The Director-General also 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 also discussed plans to introduce foreign currency contributions to enable Nigerians in the diaspora to participate in the pension system.
President reaffirms commitment to inclusive pension reforms
President Tinubu strongly supported the reforms, reaffirming his administration’s commitment to inclusive growth and protection for ordinary Nigerians.
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.
What you should know
Many low-income retirees under the Contributory Pension Scheme (CPS) are former workers from the informal sector or lower-grade positions in the public and private sectors. Their modest pension contributions during active service have resulted in limited retirement savings.
As a result, a large number of these retirees struggle to meet basic needs such as healthcare, rent, and food due to low monthly pension payouts.
With Nigeria’s inflation rate at 33.4% in Q2 2025, according to the National Bureau of Statistics, retirees on fixed incomes are especially vulnerable.
In response, the government has launched a suite of transformative pension reforms aimed at improving retiree welfare.
The new healthcare program is expected to benefit over 500,000 low-income retirees initially. Additional measures, including pension increases and police pension resolutions, are slated for rollout by Q4 2025.
