Hon. Olatunbosun Oyintiloye, a chieftain of the All Progressives Congress (APC) in Osun State, has called on President Bola Tinubu to address the financial struggles facing pensioners under the contributory pension scheme.
Speaking to journalists in Osogbo on Tuesday, Oyintiloye decried the delayed or non-payment of pensions, inadequate funding, and corruption in the pension system, which have subjected many retirees to severe financial hardship.
He noted that since the enactment of the Pension Reform Act in 2004, pensioners have suffered systemic neglect, with some retirees waiting years to access their gratuities. He highlighted cases where retirees receive only 25 to 50 percent of their lump sum after retirement, leaving them unable to meet their basic needs.
Oyintiloye commended President Tinubu’s recent approval of a N758 billion bond to clear 16 years of pension arrears but stressed that further action is needed. He urged Tinubu to collaborate with the National Assembly to review the 2004 Pension Reform Act, allowing retirees to withdraw their full savings immediately upon retirement and granting them access to free healthcare from age 65.
“This reform would enable pensioners to secure their livelihoods, start businesses, and avoid reliance on insufficient monthly stipends,” Oyintiloye said. “The hardships faced by retirees also demoralize those still in service, potentially fueling corruption.”
He emphasized that many pensioners struggle to afford decent meals, healthcare, and housing, despite dedicating their prime years to public service. He called on Tinubu to intervene, ensuring that retirees can live with dignity.
“President Tinubu has demonstrated the capacity to solve critical issues. His intervention would provide relief to pensioners and restore hope for active civil servants,” he concluded.
This version sharpens the focus on key issues, streamlines the argument, and enhances readability while maintaining the original intent. Let me know if you’d like any adjustments.
