PenCom Inaugurates PenCare Board of Trustees: A New Chapter for Retiree Welfare
The National Pension Commission (PenCom) has inaugurated the Board of Trustees for the PenCare Initiative, marking a significant milestone in Nigeria’s pension and social protection landscape. The inauguration, held in Abuja, underscores PenCom’s commitment to enhancing the welfare of retirees under the Contributory Pension Scheme (CPS).
Speaking at the ceremony, PenCom’s Director-General, Mrs. Omolola Oloworaran, described the event as “inaugurating hope” — a move toward inclusive and compassionate retirement support. She noted that the PenCare Initiative is designed to provide affordable and quality healthcare services for retirees, ensuring that life after work comes with dignity and security.
The newly inaugurated Board of Trustees will provide policy direction, oversight, and governance for the initiative. It is chaired by Mr. Muhammad Ahmad, pioneer Director-General of PenCom, and comprises professionals with diverse experience across pensions, healthcare, and financial management.
According to PenCom, the first phase of the PenCare Initiative will cover more than 20,000 retirees, with plans to scale up nationwide before the official rollout in 2026. The initiative aligns with the Federal Government’s commitment to improving social protection systems and ensuring that the nation’s senior citizens enjoy access to reliable healthcare.
Mrs. Oloworaran emphasized that the launch of the Board marks “a decisive step in bridging the gap between financial security and well-being for retirees”, adding that PenCom will continue to work closely with pension operators, health maintenance organizations (HMOs), and other stakeholders to ensure transparency and sustainability.
The PenCare Initiative reinforces PenCom’s vision of a pension industry that not only secures income in retirement but also safeguards the health and well-being of retirees — a holistic approach to pension administration and social welfare.
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