Tinubu Orders Immediate Pension Increase Implementation by PenCom
President Bola Ahmed Tinubu has ordered the National Pension Commission (PenCom) to commence the full implementation of pension increases recently approved for retirees across the country.
This directive follows the earlier approval of a harmonized pension structure, aimed at addressing long-standing disparities and improving the welfare of pensioners, many of whom have faced stagnant benefits for years despite inflation and rising living costs.
In a statement released on Wednesday, the Presidency emphasized that the move aligns with Tinubu’s commitment to social protection and economic justice for senior citizens who have served the nation.
“President Tinubu has directed that the National Pension Commission ensure full compliance and begin immediate disbursement based on the new adjustment structure,” the statement read.
The increase is expected to impact thousands of retirees under the Contributory Pension Scheme (CPS), especially those in the federal civil service.
Stakeholders, including pension unions and senior citizens’ associations, have welcomed the announcement, urging PenCom to expedite the implementation process and ensure transparency.
Financial experts say this reform could also stimulate local economic activity as retirees gain improved spending power.
The development is part of broader efforts by the Tinubu administration to reform Nigeria’s pension and labor systems, ensuring dignity for workers post-retirement.
