The National Pension Commission (PenCom) has introduced a new initiative called PenCare Initiative, aimed at giving retirees under the Contributory Pension Scheme (CPS) access to free, quality healthcare services. Speaking in Abuja, Director-General Omolola Oloworaran described it as part of a broader framework to ensure that those who have given their productive years in service of Nigeria can enjoy their retirement with dignity and good health.
She emphasized that this effort aligns with President Bola Ahmed Tinubu’s focus on strengthening social protection systems and elevating the standard of living for senior citizens in Nigeria.
At the launch, the Board of Trustees (BoT) for the PenCare Initiative was inaugurated, with Mohammed Kabir Ahmed named as its chairman. The BoT will have responsibility for policy formation and operational oversight, “formulating policies and operational frameworks to ensure retirees under the CPS have access to affordable, quality healthcare,” as a PenCom statement put it.
The PenCare Initiative is the result of a partnership between PenCom and licensed pension operators. According to Oloworaran, “We are not merely inaugurating a board; we are inaugurating hope. We are setting in motion a new chapter in Nigeria’s journey towards inclusive, compassionate, and globally-competitive social security.”
Those operating the scheme will select, accredit and supervise Health Maintenance Organisations (HMOs) and other healthcare providers according to national standards and regulations, with an emphasis on transparency, accountability and sustainable funding.
Oloworaran also acknowledged the wider context of a growing retired population and rising healthcare costs: “We are fully aware that the task ahead is significant. The challenges of rising healthcare costs and an ageing population are real, but so too are the opportunities to innovate and lead.”
By expanding retirees’ access to free healthcare, the scheme helps reduce out-of-pocket medical spending among older citizens, thereby preserving disposable income and supporting domestic consumption. Meanwhile, strengthened confidence in the pension system can deepen long-term savings, encourage fund growth and reinforce the role of pension assets in national investment and economic stability.
