The Nigeria Union of Pensioners has congratulated President Bola Tinubu on his 74th birthday, commending his administration\u2019s reforms in the pension sector while urging further action to enhance retirees\u2019 welfare across the country.\n<\/p>\n
In a statement issued on Sunday, the National President of the union, Godwin Abumisi, said pensioners nationwide were celebrating not just the President\u2019s new age, but also what he described as \u201cpurposeful leadership and renewed attention to the plight of retirees.\u201d\n<\/p>\n
Abumisi noted that recent policy interventions under Tinubu\u2019s administration have helped address long-standing challenges in Nigeria\u2019s pension system, particularly delays in payments and accumulated arrears.\n<\/p>\n
\u201cMr. President, pensioners across the country proudly join millions of Nigerians in celebrating you today, particularly in recognition of your administration\u2019s deliberate and impactful interventions aimed at improving the welfare and dignity of retirees,\u201d he said.<\/p>\n
He described the approval of a \u20a632,000 monthly pension increase as a \u201cbold and compassionate decision\u201d that has provided relief to retirees struggling with rising inflation and cost-of-living pressures. Nigeria has faced persistent inflationary trends in recent years, with food and energy costs placing a significant strain on fixed-income earners such as pensioners.\n<\/p>\n
The NUP president also highlighted the Federal Government\u2019s approval of about \u20a6700 billion to clear outstanding liabilities under the Contributory Pension Scheme, alongside \u20a657 billion for retirees under the Defined Benefit Scheme, describing the move as a \u201clandmark intervention.\u201d\n<\/p>\n
\u201cThese interventions are addressing the backlog of accrued rights owed to CPS retirees, many of whom endured years of uncertainty and hardship after meritorious service,\u201d Abumisi said.<\/p>\n
Nigeria operates a dual pension structure, with the CPS introduced in 2004 to replace the older DBS in a bid to ensure sustainability and reduce government liabilities. However, implementation challenges, funding gaps, and delays in remittances have continued to affect retirees, prompting repeated calls for reform.\n<\/p>\n
Abumisi further commended the government for clearing arrears owed to pensioners, particularly those in government parastatals, and for maintaining more consistent monthly payments in recent times. <\/p>\n
\u201cWe acknowledge the sustained prompt payment of pensions and your timely interventions in resolving delays, which demonstrate responsive and people-centred leadership,\u201d he added.\n<\/p>\n
The union also welcomed the President\u2019s approval for the payment of gratuities to retired workers, noting that many retirees had waited years to receive their entitlements.\n<\/p>\n
Despite the commendations, NUP urged the President to ensure that state governments implement approved pension increases to extend the benefits to retirees at the subnational level.\n<\/p>\n
\u201cWhile we commend your efforts, we respectfully urge Your Excellency to prevail on state governors to fully implement all approved pension increases, so that pensioners at the state level can equally benefit,\u201d Abumisi stated.\n<\/p>\n
He also called for the expedited rollout of a proposed health insurance scheme for pensioners, describing it as critical to improving the quality of life and healthcare access for elderly citizens.<\/p>\n
Experts note that Nigeria\u2019s ageing population, though relatively small compared to developed countries, is growing steadily, making pension sustainability and healthcare access increasingly important policy priorities.\n<\/p>\n
\u201cAs you mark your 74th birthday, we pray for continued strength and wisdom to drive policies that will ensure economic growth, national development, and the well-being of all Nigerians, especially retirees,\u201d Abumisi said.\n<\/p>\n
Tinubu, who assumed office in May 2023, has made economic reforms a central pillar of his administration, including subsidy removal and fiscal restructuring\u2014policies that have had mixed effects but are seen by supporters as necessary for long-term stability.\n <\/p>\n","protected":false},"excerpt":{"rendered":"The Nigeria Union of Pensioners has congratulated President Bola Tinubu on his 74th birthday, commending his administration\u2019s reforms…\n","protected":false},"author":2,"featured_media":371697,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[44432,72,151184,176,166758,61,60,166759,144588,166760,10206,20630,128396,174,175,143364],"class_list":{"0":"post-371696","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-bola-tinubu","9":"tag-business","10":"tag-contributory-pension-scheme","11":"tag-finance","12":"tag-godwin-abumisi","13":"tag-ie","14":"tag-ireland","15":"tag-nigeria-union-of-pensioners","16":"tag-nigerian-economy","17":"tag-nup","18":"tag-pension-arrears","19":"tag-pension-increase","20":"tag-pension-reform","21":"tag-personal-finance","22":"tag-personalfinance","23":"tag-retiree-welfare"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/371696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=371696"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/371696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/371697"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=371696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=371696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=371696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}