BY NKECHI NAECHE-ESEZOBOR—The National Pension Commission (PenCom) has announced the commencement of health insurance coverage for the first set of low-income retirees under the Contributory Pension Scheme (CPS), with beneficiaries expected to begin receiving coverage this week.
The initiative, described as a major welfare milestone, is aimed at providing critical medical support for vulnerable retirees and strengthening the social safety net for senior citizens across Nigeria.
The Director-General of PenCom, Ms. Omolola Oloworaran, made this known during a press briefing held after the conclusion of the 2nd Pension Industry Leadership Council Session in Lagos.
She said the commission has concluded all necessary preparations to ensure that the healthcare needs of vulnerable retirees are given priority.
She disclosed that the payment of insurance premiums for the coverage is expected to be completed within the week, representing a major milestone in the Commission’s ongoing efforts to improve the welfare and quality of life of senior citizens.
Ms. Oloworaran emphasized that creating a support system for retirees who may face difficulties meeting medical expenses during retirement remains a key component of the Commission’s strategic focus.
While premium payments are set to commence immediately to activate coverage, she further stated that a formal launch of the initiative will take place in the near future.
According to her, this launch will serve to create greater awareness among the public and relevant stakeholders on the full scope and benefits of the scheme.
