The Director General of the National Pension Commission (PenCom), Omolola Oloworaran, has said the commission had put in place a framework that will ensure that retirees under the Contributory Pension Scheme have access to affordable and quality free healthcare services.
Oloworaran spoke at the weekend in Abuja during the inauguration of the Board of Trustees (BoT) of the Pension Industry Healthcare Initiative.
Mohammed Kabir Ahmed was announced as the board chairman of the initiative.
The PenCom director general described the development as a testament to President Bola Ahmed Tinubu’s commitment to building a Nigeria where those who have devoted their productive years to national service are assured of healthy, dignified, and secure retirement.
She said the health initiative places the nation on the path towards a pension system that not only safeguards the financial security of workers but also protects their health, dignity, and well-being in retirement.
The PenCare Initiative represents a visionary partnership between the PenCom and licensed pension operators, a union of expertise, compassion, and responsibility.
Oloworaran said: “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. This vision draws directly from the leadership and policy direction of President Bola Ahmed Tinubu, whose administration has consistently emphasised the need to strengthen Nigeria’s social protection systems and improve the quality of life for all citizens, especially our senior citizens.
“It was under the President’s clear directive that the National Pension Commission was tasked to put in place a framework that ensures retirees under the Contributory Pension Scheme have access to affordable and quality healthcare.
“Through PenCare, we are building a structure that aligns with international best practices in social protection, mirroring the integrated healthcare and pension systems of advanced economies, yet designed to meet the realities and aspirations of our nation.
“This initiative is both a social responsibility and a statement of leadership, demonstrating that Nigeria’s pension industry is ready to set standards and not merely follow them.
“The Board of Trustees, being inaugurated, carries a crucial responsibility to provide strategic oversight and direction for the PenCare Initiative by formulating policies and operational frameworks to ensure retirees under the Contributory Pension Scheme have access to affordable, quality healthcare.”
Other aspects of PenCare are: Selecting, accrediting, and supervising Health Maintenance Organisations (HMOs) and other healthcare providers in accordance with established standards and national health regulations, ensuring transparency, accountability, and sustainability in the management of PenCare’s funds and partnerships, and promoting collaboration and advocacy across the pension and healthcare sectors to strengthen access, service delivery, and the overall welfare of the retirees.
The PenCom director general stated that members of the PenCare BoT were carefully selected for their integrity, competence, and deep professional experience in the pension, health, and financial sectors.
Addressing the BoT members during the event, Oloworaran said: “As trustees, you hold a sacred public trust to steer this initiative towards tangible impact and to ensure that it becomes a model of effective partnership between public institutions and private operators.
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“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. As a nation, we can redefine how a nation cares for its retirees, ensuring that the end of active service marks not a decline, but a season of dignity and well-being,” she said.
Oloworaran hailed members of the BoT on the Pension Industry Health Care Initiative, the commission’s leadership team, and all its industry partners for their tireless efforts and commitment. “Your collective work reflects the spirit of service, innovation, and integrity that defines the National Pension Commission,” she added.
Oloworaran told the committee’s members to do their job with dedication and become reference points.
The PenCom DG urged the committee members to seek guidance through broader vision, ensure a pension industry that is financially sound, socially responsible, and people-centred, one that manages not only funds but also futures, that invests not only in assets but in people, the journey ahead will demand creativity, collaboration, and courage, but together, we will all set a new global benchmark for inclusive social protection.
“To the retirees and RSA contributors, PenCare is our promise to you. It is a tangible demonstration that the pension industry, under the leadership and policy direction of President Bola Ahmed Tinubu, cares not only about your savings but also about your well-being,” Oloworarn stated.
