The National Pension Commission (PenCom) has launched PenCare, a groundbreaking healthcare initiative designed to provide affordable and quality medical services for retirees under the Contributory Pension Scheme (CPS).
The official inauguration of the nine-member Board of Trustees for the Pension Industry Health Care Initiative took place on Friday in Abuja.
PenCom’s Director-General, Omolola Oloworaran, described PenCare as a major milestone in Nigeria’s social protection framework, ensuring that retirees enjoy not only financial security but also access to reliable healthcare.
“Today, we are not merely inaugurating a board; we are inaugurating hope,” Oloworaran said. “PenCare represents a new chapter in building a pension system that guarantees not just financial stability but also the health and dignity of retirees.”
She explained that the programme aligns with President Bola Tinubu’s Renewed Hope Agenda, which prioritises affordable healthcare and inclusive social welfare for Nigerians. The first phase of PenCare aims to enroll at least 20,000 retirees, combining international best practices with Nigeria’s unique healthcare realities.
The newly inaugurated Board of Trustees, which includes experts from the pension, health, and financial sectors, will oversee the design, implementation, and sustainability of the initiative.Their core duties include:
- Developing frameworks for retirees’ access to quality, affordable healthcare.
- Accrediting and supervising Health Maintenance Organisations (HMOs).
- Ensuring transparency and accountability in fund management.
- Strengthening collaboration between the pension and healthcare industries.
Oloworaran urged the board members to uphold integrity and deliver measurable impact.
“As trustees, you hold a sacred public trust to ensure this initiative delivers real results,” she added.
The Board Chairman, Mohammad Ahmad, said PenCare was designed to ease the financial burden of healthcare on retirees, particularly those with limited income.
“This is the time retirees need healthcare the most. With PenCare, they can preserve their savings while HMOs cater to their medical needs,” he said.
Oloworaran commended stakeholders for their collaboration, reiterating that the initiative demonstrates the pension industry’s dedication to safeguarding Nigerian workers in retirement.
“PenCare is our promise to retirees,” she concluded. “It affirms our commitment, under President Tinubu’s leadership, to ensuring every Nigerian worker enjoys a secure and healthy retirement.”
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