“Oloworaran Launches PENCARE, Ushers in New Era of Healthcare for Retirees.”

The National Pension Commission (PenCom) has reaffirmed its commitment to the welfare of Nigerian retirees with the official inauguration of the Board of Trustees for PENCARE — the Pension Industry Health Care Initiative, a pioneering programme aimed at guaranteeing access to quality healthcare for retirees under the Contributory Pension Scheme (CPS).

Announcing the development via its official handle on X (formerly Twitter) @PenComNig, the Commission stated that the inauguration, held earlier today, was presided over by its Director General, Ms. Omolola Oloworaran (@Omololabo). The event marks a critical milestone in PenCom’s continuous effort to deepen social protection and strengthen post-retirement welfare through innovative policy interventions.

According to the Commission, PENCARE is a landmark healthcare initiative designed to provide retirees with affordable, accessible, and sustainable healthcare options — an essential step towards ensuring that Nigerians who have contributed to the pension system can enjoy healthy and dignified lives after service.

In her remarks during the inauguration, Ms. Oloworaran underscored the importance of aligning the pension system with health priorities, noting that retirees’ well-being goes beyond financial stability.

“Through PENCARE, PenCom is reaffirming its promise to retirees — that life after service should be lived with dignity, security, and access to healthcare. The pension industry must evolve beyond payments to truly protect lives,”
— Ms. Omolola Oloworaran, Director General, PenCom.

She explained that the newly inaugurated Board of Trustees (BoT) would oversee the governance, sustainability, and transparency of the PENCARE initiative. The Board will work closely with Pension Fund Administrators (PFAs), healthcare providers, and other industry stakeholders to ensure that the framework delivers measurable impact across the country.

Industry analysts have described the initiative as a groundbreaking collaboration between Nigeria’s pension and healthcare sectors. Experts say the move reflects PenCom’s forward-thinking vision and could serve as a model for social welfare integration across Africa.

Retirees’ unions and pension advocacy groups have also applauded PenCom’s leadership under Ms. Oloworaran, describing the initiative as a “game-changer” that addresses one of the most pressing needs among pensioners — access to reliable medical services.

With the introduction of PENCARE, PenCom is broadening the conversation around retirement to include quality of life and social inclusion. It signals a shift from a purely financial pension model to a people-centered system that guarantees not just income security but also healthcare support for every Nigerian retiree.

This initiative further aligns with President Bola Ahmed Tinubu’s broader economic agenda focused on inclusive growth, social protection, and national well-being.

The National Pension Commission (PenCom), led by DG Ms. Omolola Oloworaran, inaugurates the Board of Trustees for PENCARE — a landmark healthcare initiative ensuring retirees under Nigeria’s Contributory Pension Scheme enjoy quality, affordable healthcare and dignified living.