President Tinubu charges PenCom to fast track implementation of long-overdue pension increases, minimum pension

 




By allcitynews.blog 


President Bola Ahmed Tinubu has directed Apex pension body, National Pension Commission (PenCom) to fast-track 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.

 


Even as he also called for 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 CPS.

 

The President gave the directives after receiving a briefing from Ms. Omolola Oloworaran, the Director General of the National Pension Commission (PenCom).

 

President Tinubu 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.



Earlier, the DG told Mr 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.

 

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