BY NKECHI NAECHE-ESEZOBOR—To ensure pensioners live a good life in retirement, the National Pension Commission (PenCom), said about 30,000 retirees under the Contributory Pension Scheme have been selected across the six geopolitical zones to benefit from the new free Pension Industry Healthcare Initiative (PenCARE).
The initiative which is funded by the PenCom and Pension Fund Administrators (PFAs) in the country is expected to commence in March, 2026.
Speaking at the 2025 Pension Revolution Summit and Media Conference in Lagos, PenCom Director-General, Omolara Oloworaran, said “Retirement should be a season of peace, not a period defined by anxiety over medical bills. I am happy to announce that the pilot scheme will be launched in March next year, and we hope to enroll 30,000 retirees across the six geopolitical zones of the country to strengthen collaboration and leadership across the industry.”
She also highlighted key compliance interventions introduced by the commission on the last one year aimed at strengthening pension administration
According to her central to these measures is the automation of the issuance of Pension Clearance Certificates (PCC), aimed at ensuring faster, more transparent processing while significantly reducing turnaround time. The PCC application process has also been redesigned with a robust employer dashboard to enable effective monitoring of compliance.
“In addition, a circular has been issued to mandate full compliance with the Pension Reform Act (PRA) 2014 by all service providers and vendors of Licensed Pension Fund Operators (LPFOs), thereby expanding compliance across the pension ecosystem.
“To strengthen enforcement, a Memorandum of Understanding (MoU) has been executed with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to facilitate the recovery of outstanding pension contributions and penalties. This strategic partnership is expected to deepen recovery efforts and deter persistent defaulters through stronger sanctions.
“The interventions also include intensified public awareness campaigns and enhanced stakeholder engagement with the Commission’s social partners to build institutional capacity.
“Furthermore, the adoption of the PCC has been proposed as a mandatory requirement for accessing government intervention funds for micro, small and medium enterprises (MSMEs), as well as a condition for licensing and contract awards by state governments.
These measures she noted “are expected to significantly strengthen compliance, safeguard pension assets, and improve confidence in the pension system.”
To ensure pensioners live a good life in retirement, the National Pension Commission (PenCom), said about 30,000 retirees under the Contributory Pension Scheme have been selected across the six geopolitical zones to benefit from the new free Pension Industry Healthcare Initiative (PenCARE).
The initiative which is funded by the PenCom and Pension Fund Administrators (PFAs) in the country is expected to commence in March, 2026.
Speaking at the 2025 Pension Revolution Summit and Media Conference in Lagos, PenCom Director-General, Omolara Oloworaran, said “Retirement should be a season of peace, not a period defined by anxiety over medical bills. I am happy to announce that the pilot scheme will be launched in March next year, and we hope to enroll 30,000 retirees across the six geopolitical zones of the country to strengthen collaboration and leadership across the industry.”
She also highlighted the restructuring and rebranding of the Micro Pension Plan into the Personal Pension Plan.
This according to her was about meeting Nigerians Artisans, Traders, Gig workers, Creatives, and Informal sector workers where they are.
“Under the Personal Pension Plan, we simplified onboarding, expanded digital enrolment, and crucially introduced Accredited Pension Agents.
She added that “Accredited Pension Agents are not merely distribution channels. They are an employment strategy. Thousands of young Nigerians are expected to be trained, certified, and deployed as pension professionals, earning livelihoods while expanding pension coverage. This is inclusion with impact. Financial inclusion that creates jobs.”
