Pension Scheme Reform: APC Chieftain Urges Tinubu to Act

A chieftain of the All Progressives Congress (APC) in Osun State, Hon. Olatunbosun Oyintiloye, has called on President Bola Tinubu to implement an urgent reform of the contributory pension scheme in Nigeria. The APC chieftain, who spoke on condition of anonymity, expressed concern over the plight of pensioners in the country, who are facing difficulties in accessing their retirement benefits.

The contributory pension scheme was introduced in Nigeria in 2004, with the aim of providing a sustainable and efficient pension system for workers in the country. However, despite the good intentions behind the scheme, it has been plagued by several challenges, including inadequate funding, poor administration, and corruption.

Pensioners in Nigeria are facing several challenges, including delays in the payment of their retirement benefits, inadequate pension payments, and lack of access to healthcare services. Many pensioners have also complained about the bureaucratic processes involved in accessing their pension benefits, which has led to frustration and despair among many retirees.

The APC chieftainin Osun State, Hon. Olatunbosun Oyintiloye has called on President Tinubu to implement an urgent reform of the contributory pension scheme, to address the challenges facing pensioners in the country. The chieftain argued that the current pension scheme is unsustainable and needs to be overhauled to ensure that pensioners receive their retirement benefits promptly and efficiently.

The APC chieftain has proposed several reforms to the contributory pension scheme, including the establishment of a new pension authority to oversee the administration of the scheme, the introduction of a new pension payment system to ensure prompt payment of retirement benefits, and the provision of healthcare services for pensioners. The chieftain has also called for the prosecution of those involved in the mismanagement of pension funds.

President Tinubu has not responded to the APC chieftain’s call for pension scheme reform. However, the president has promised to address the challenges facing pensioners in the country. In a statement, President Tinubu said, “My administration is committed to ensuring that pensioners receive their retirement benefits promptly and efficiently. We will work tirelessly to address the challenges facing pensioners in the country.”

The call by the APC chieftain in Osun State for pension scheme reform highlights the urgent need for the federal government to address the challenges facing pensioners in the country. The proposed reforms, including the establishment of a new pension authority and the introduction of a new pension payment system, are aimed at ensuring that pensioners receive their retirement benefits promptly and efficiently.