Formal sector retirees to retain nhis benefit till age 70 fg

A great news for formal sector retirees in Nigeria!

According to a recent announcement by the Federal Government of Nigeria, formal sector retirees will now be able to retain their National Health Insurance Scheme (NHIS) benefits until the age of 70.

Prior to this announcement, NHIS benefits were typically terminated at the age of 65 for formal sector retirees. However, with this new development, retirees will now be able to continue enjoying their NHIS benefits for an additional five years, up to the age of 70.

This move is expected to benefit thousands of formal sector retirees across the country, providing them with continued access to quality healthcare services and reducing their healthcare expenses.

The decision is seen as a positive step towards improving the welfare of retirees and ensuring that they continue to receive the healthcare benefits they need to maintain their health and well-being.

Here are some key details about the new policy:

• Formal sector retirees will be able to retain their NHIS benefits until the age of 70.
• The policy applies to all formal sector retirees, including those from the public and private sectors.
• The NHIS benefits will continue to be funded by the employer and the employee, as per the existing contributory scheme.
• The policy is expected to benefit thousands of formal sector retirees across the country.

Overall, this new policy is a welcome development that will have a positive impact on the lives of formal sector retirees in Nigeria.