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The National Pension Commission (PenCom) has inaugurated the Board of Trustees of the Pension Industry Health Care Initiative (PenCare), a new programme aimed at enhancing retirees’ access to affordable and quality healthcare services under the Contributory Pension Scheme (CPS). Speaking at the inauguration ceremony in Abuja, Omolola Oloworaran, Director General of PenCom, described the initiative as a landmark achievement in Nigeria’s social protection landscape. She said PenCare represents a significant step toward a pension system that not only secures workers’ financial future but also safeguards their health and dignity in retirement. According to her, over 20,000 retirees are expected to benefit from the first phase of the programme, which will later be expanded nationwide. “We are inaugurating hope and setting in motion a new chapter in Nigeria’s journey toward inclusive, compassionate, and globally competitive social security. “The PenCare Initiative represents a visionary partnership between the National Pension Commission and Licensed Pension Operators, a union of expertise, compassion, and responsibility,” Oloworaran said. She added that the initiative aligns with the policy direction of President Bola Ahmed Tinubu, whose administration has consistently emphasised the need to strengthen social protection systems and improve the quality of life for senior citizens. The PenCom boss noted that PenCare is designed as a Corporate Social Responsibility (CSR) collaboration between the commission and licensed pension operators, with the official launch by President Tinubu scheduled for later in November. Oloworaran said the newly inaugurated Board of Trustees, chaired by Muhammed Ahmad, PenCom’s pioneer Director General, would provide strategic oversight and policy direction for the initiative. The board’s responsibilities include formulating operational frameworks, accrediting Health Maintenance Organisations (HMOs), ensuring transparency and accountability, and promoting collaboration across the pension and healthcare sectors. She emphasised that the initiative mirrors international best practices, integrating healthcare into the pension system to ensure retirees enjoy a healthy and dignified post-service life. Speaking to members of the board, she said “As Trustees, you hold a sacred public trust to steer this initiative toward tangible impact. Together, we can redefine how a nation cares for its retirees, ensuring that the end of active service marks not decline, but a season of dignity and well-being.” Read also: PenCom partners ICPC to strengthen oversight, enforce pension remittance In his remarks, the Board Chairman, expressed appreciation for the opportunity to serve and commended PenCom’s leadership for championing a long-overdue reform in the pension sector. He pledged that the board would ensure effective governance and sustainable implementation of the scheme. Ahmad added that PenCare would provide insurance coverage for retirees, starting with the most vulnerable, before expanding its reach as the programme stabilises. PenCom said the initiative underscores its commitment to a pension industry that is not only financially sound but also socially responsible and people-centred, one that invests not just in funds, but in the future well-being of Nigerian workers.
