PenCom to commence free healthcare for 30,000 retirees in March 2026, promises comfortable retirement
Director General of the National Pension Commission, (PenCom) Omolola Oloworaran,
Nike Popoola
The National Pension Commission (PenCom) has reiterated its commitment to making retirement in Nigeria a season of peace, free from worries over medical expenses, with the announcement of the pilot launch of the Pension Industry Healthcare Initiative (PenCare) in March 2026.
Speaking at the 2025 Pension Revolution Summit and Media Conference in Lagos on Thursday, PenCom Director-General, Omolara Oloworaran, highlighted the Commission’s landmark achievements over the past year.
She noted the inauguration of the Board of Trustees for PenCare, describing it as a historic industry-wide intervention aimed at providing free and accessible healthcare for low-income retirees.
“Retirement should be a season of peace, not a period defined by anxiety over medical bills. I am happy to announce that the pilot scheme will be launched in March next year, and we hope to enroll 30,000 retirees across the six geopolitical zones of the country to strengthen collaboration and leadership across the industry,” Oloworaran said.
The DG emphasized that PenCare is part of broader reforms under the Pension Revolution 2.0 agenda, which has driven significant structural transformation in Nigeria’s pension industry over the last year, adding that more retirees will be added to the scheme.
Key initiatives of the Commission in the last one year, she said include full automation of critical pension processes, the introduction of accredited pension agents, and the rebranding of the Micro Pension Plan into the Personal Pension Plan to extend coverage to artisans, traders, gig workers, and informal sector participants.
Oloworaran also highlighted efforts to clear long-standing pension backlogs and improve operational efficiency. A major milestone, she said, was the approval and disbursement of N758 billion by President Bola Ahmed Tinubu to settle all outstanding pension liabilities, sending a clear signal that Nigeria honors its promises to workers and retirees.
She assured that the zero-waiting-time policy for approved benefits, effective from July 2025, will continue, ensuring retirees receive their entitlements immediately upon retirement.
The DG further noted that regulatory measures to strengthen employer compliance have led to pension recoveries of N4.04 billion from January to November 2025, a 180% increase compared to 2024.
Oloworaran also stressed that raising capital requirements for pension operators this year was a deliberate step toward building stronger institutions with better risk management, deeper expertise, and greater capacity to attract and retain skilled personnel.
