President Bola Tinubu has approved the implementation of pension increases and the introduction of a minimum pension guarantee for retirees under the Contributory Pension Scheme (CPS), following a recent protest by retired police officers.
The directive was disclosed on Wednesday by Presidential spokesperson, Bayo Onanuga, after the President received a briefing from the Director General of the National Pension Commission (PenCom), Omolola Oloworaran.
According to the statement, President Tinubu instructed PenCom to urgently resolve the longstanding concerns of retired police officers, stressing that those who dedicate their lives to protecting the nation deserve to retire with dignity and peace of mind.
During her briefing, the DG highlighted ongoing efforts to safeguard the value of pension fund assets amid inflation and macroeconomic challenges. She also outlined plans to allow Nigerians in the diaspora to contribute in foreign currency as part of broader reforms to expand the scheme’s reach.
President Tinubu expressed full support for the proposed reforms and reiterated his administration’s commitment to inclusive economic growth and improved welfare for all Nigerians, especially retirees.
The presidential directive comes days after police retirees staged a protest in Abuja to demand better post-service welfare and inclusion under the CPS.