The National Pension Commission (PenCom) has launched a new reform initiative known as Pension Revolution 2.0, introducing a minimum pension guarantee and healthcare coverage for retirees.
Announcing the programme at a news conference in Abuja on Thursday, PenCom Director-General, Mrs.Omolola Oloworaran, said the initiative – championed by President Bola Tinubu through the Pension Industry Leadership Council (PILC) – represents an unprecedented step in Nigeria’s pension history.
She explained that the reform seeks to ensure retirees enjoy financial security and access to healthcare, while protecting the long-term value of contributors’ Retirement Savings Accounts against inflation and currency depreciation.
Oloworaran said pension funds would be strategically channelled into infrastructure, agriculture, affordable housing, and capital markets to create jobs and stimulate inclusive growth, without compromising the safety of investments.
“Pensions will now serve not only as a retirement safety net but also as a key pillar of social protection and sustainable development in Nigeria,” she stated.
She also confirmed progress on the N758 billion pension bond, assuring that government efforts to clear outstanding liabilities remain on course.
The PenCom boss urged the media and stakeholders to intensify advocacy for improved retirement planning, stressing that expanding coverage, especially to the informal sector, is central to the council’s mandate.
