The National Pension Commission (PenCom) has warned employers, including media organisations, to fully comply with pension remittance obligations or face stricter regulatory sanctions, as it also announced plans to launch a healthcare scheme for at least 30,000 low-income retirees from 2026.
Speaking on Thursday in Lagos at the 2025 PenCom Media Conference, the Director-General of the commission, Ms. Omolola Oloworaran, said persistent non-remittance of pension contributions continues to undermine workers’ welfare, erode confidence in the pension system, and threaten retirement security.
Ms. Oloworaran said PenCom has prioritised engagement with defaulting employers but stressed that the commission’s patience would not be limitless. According to her, tougher enforcement measures would be deployed where dialogue fails to produce tangible compliance.
“We have started engagement, and I am hoping that by next year we will begin to see positive results,” she said. “Non-remittance of pensions should, frankly, be a criminal offence, and we are looking at how to reflect that in the new Pension Reform Act.”
She said the commission is strengthening oversight mechanisms to ensure that employees’ pension contributions are promptly remitted and that retirees receive their benefits without undue delays. As part of efforts to improve accountability and service delivery, PenCom is developing a customer relationship management system that will allow retirees to directly log complaints against Pension Fund Administrators (PFAs), with the commission having full visibility of the process.
The system, expected to be fully rolled out in 2026, is designed to ensure faster resolution of pension-related complaints and improve transparency across the industry. Ms. Oloworaran added that PenCom would also commence regular direct engagements with Nigerians from the first quarter of 2026 through sustained media sessions to address concerns raised by contributors and retirees.
She reaffirmed PenCom’s commitment to defending the rights of employees and retirees, noting that the commission would continue to push reforms aimed at delivering better outcomes for Retirement Savings Account (RSA) holders.
“For 2026, we plan to continue building trust in the system, improving investment outcomes, and ensuring that PFAs deliver inflation-plus returns to retirees and RSA contributors,” she said. “Most importantly, we will continue to defend the rights of every retiree and contributor.”
Beyond enforcement and regulatory reforms, Ms. Oloworaran also announced plans to commence the pilot phase of the Pension Industry Healthcare Initiative, known as PenCare, in March 2026. The initiative is expected to target no fewer than 30,000 low-income retirees under the Contributory Pension Scheme (CPS).
She said PenCare is designed to ease the healthcare burden of retirees with limited income and ensure that they are able to live their retirement years with dignity. According to her, PenCom has already inaugurated the board of trustees of PenCare to drive the industry-wide intervention, which will provide free and accessible healthcare services to eligible retirees.
“Retirement should be a season of peace, not a period defined by anxiety over medical bills,” she said. “I am happy to announce that the pilot will be launched in March next year, and we hope to enrol about 30,000 retirees across the six geopolitical zones of the country.”
Ms. Oloworaran described PenCare as a landmark reform that reflects the Federal Government’s commitment to improving the welfare of pensioners, particularly those at the lower end of the income scale. She said the initiative aligns with the Renewed Hope Agenda and signals a shift towards a more holistic pension system that responds to the broader social needs of retirees.
She added that the pension system is increasingly being positioned to address challenges beyond the payment of monthly benefits, with PenCom working closely with stakeholders to ensure transparency, sustainability, and equitable access in the implementation of the healthcare programme.
“We are building a pension system that protects not just income, but also the wellbeing of those who have given their productive years to the nation,” she said.
Also speaking at the conference, the Acting Managing Director of the Pension Fund Operators Association of Nigeria (PenOp), Ms. Anthonia Ifeanyi-Okoro, said recent reforms have strengthened the foundation of Nigeria’s pension system and improved confidence among retirees.
She said the Pension Boost 1.0 initiative has helped resolve long-standing challenges relating to accrued pension rights, ensuring that thousands of retirees receive long-overdue benefits. According to her, the transition to Pension Revolution 2.0 has been reinforced by the issuance of N758 billion in Federal Government bonds to settle accrued pension rights, signalling renewed commitment to pension sustainability.
PenCom said it would continue to enforce compliance, deepen reforms, and expand social interventions to ensure that workers’ pensions are protected throughout their careers and into retirement.
