From Pay Rise To Healthcare: Tinubu’s 12.95% Boost Transforms DBS Pensioners’ Welfare

President Bola Tinubu has rolled out a series of groundbreaking measures to uplift the welfare of Defined Benefit Scheme (DBS) pensioners, in line with his administration’s Renewed Hope Agenda, according to iReporter Online.

The Pension Transitional Arrangement Directorate (PTAD) revealed that these approvals came after its executive secretary, Tolulope Odunaiya, formally sought an emergency budgetary allocation to push forward urgent pension reforms.

The measures include a ₦32,000 pension increment, a 10.66% and 12.95% pension rise for retirees of defunct and privatised agencies, adoption of a harmonised pension policy, and the enrollment of DBS pensioners into the National Health Insurance Scheme (NHIS).

According to iReporter Online, the President also directed that accrued unfunded pension liabilities—such as arrears owed to NITEL/MTEL pensioners and other treasury-funded parastatals—be factored into the 2026 budget proposal.

Odunaiya described the move as a historic milestone, highlighting it as a reflection of Tinubu’s steadfast commitment to senior citizens and his administration’s focus on equity, social justice, and dignity in retirement.

The reforms will roll out in phases in collaboration with relevant agencies, with PTAD pledging unwavering dedication to delivering on these promises.

Recall that earlier this week, Tinubu instructed pension industry operators to fast-track the free healthcare access initiative for low-income retirees under the Contributory Pension Scheme (CPS), describing it as vital for social protection and dignity.

According to iReporter Online, the President also pressed for prompt implementation of long-overdue pension increases and a minimum pension guarantee, while mandating urgent resolution of the police pension issue.

The DG of the National Pension Commission (PenCom), Omolola Oloworaran, briefed him on strategies to safeguard pension fund assets against inflation, explore foreign currency contributions from Nigerians abroad, and expand the reach of the scheme.

President Tinubu reaffirmed his unwavering support for these reforms, framing them as part of a broader mission for inclusive growth and protection of the nation’s retirees.

”IREPORTER REPORTS”