Following a protest by retired police officers, President Bola Tinubu has directed implementation of pension increases and a minimum pension guarantee for retirees under the Contributory Pension Scheme, CPS.
This was announced by Presidential spokesperson, Bayo Onanuga, in a statement on Wednesday.
He 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 immediately 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
On her part, the DG 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, as well as 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 ordinary Nigerians.
Oloworaran updated the president on a suite of transformative pension initiatives to enhance retiree welfare and expand the pension scheme’s reach.
This comes after police retirees protested in Abuja to demand improved welfare.
