The National Pension Commission (PenCom) on Friday inaugurated the Board of Trustees for its new healthcare initiative, PenCare, in Abuja. The scheme aims to provide affordable and quality healthcare for retirees under the Contributory Pension Scheme (CPS), marking a major step toward improving the welfare of Nigerian pensioners.
Speaking during the ceremony, PenCom’s Director-General, Mrs. Omolola Oloworaran, said the initiative aligns with President Bola Tinubu’s directive to ensure senior citizens have reliable healthcare after years of national service. She added that the scheme will begin with at least 20,000 retirees across the country.
“PenCare symbolises a new chapter in our journey towards inclusive and compassionate social security,” Oloworaran said. “Through this initiative, we are not just securing financial stability but also protecting the health and dignity of Nigerian workers in retirement.”
She explained that the board would provide strategic oversight, policy direction, and transparency in implementation. The trustees, she said, will also handle accreditation and supervision of Health Maintenance Organisations (HMOs) and promote collaboration between the pension and healthcare sectors.
According to Oloworaran, the board members were selected for their integrity, competence, and professional experience across pension, health, and finance. “As trustees, you hold a sacred trust to steer this initiative toward tangible impact and make it a model of effective public-private partnership,” she said.
She commended PenCom’s leadership team, industry stakeholders, and the project committee for bringing a long-held vision to fruition. “PenCare is our promise to retirees and contributors,” she added. “It demonstrates that the pension industry, under President Tinubu’s leadership, cares not only about savings but about the overall well-being of Nigerian workers.”
Chairman of the Board, Mr. Mohammad Ahmad, assured full commitment to the initiative, noting that PenCare would particularly benefit low-income retirees who often struggle to afford quality medical care.
“This is the time retirees need to pay attention to their health,” Ahmad said. “With this scheme, they can worry less about healthcare costs and focus on living well, as HMOs will take care of their needs.”
The PenCare Initiative is expected to integrate pension management with healthcare delivery, aligning with global best practices in social protection systems.
