…target 20,000 retired people in the first phase
…inaugurated the Board of Trustees
The National Pension Commission (Pencom) has inaugurated the Board of Trustees of the Pension Industry Health Care Initiative (Pencare), a new program aimed at enhancing access to affordable and quality health services for retirees under the Contributory Pension Scheme (CPS).
Speaking at the inauguration ceremony in Abuja, Director General of Pencom, Omolola Oloworan, described the initiative as a landmark achievement in Nigeria’s social protection landscape.
He said PainCare represents an important step towards a pension system that not only secures workers' financial future but also protects their health and dignity in retirement.
According to him, more than 20,000 retirees are expected to benefit from the first phase of the programme, which will later be expanded across the country.
“We are ushering in hope and establishing a new chapter in Nigeria’s journey towards inclusive, compassionate and globally competitive social security.
“The PainCare initiative represents a visionary partnership between the National Pension Commission and the Association of Licensed Pension Operators, combining expertise, compassion and responsibility,” Olovoran said.
He said the initiative is in line with the policy direction of President Bola Ahmed Tinubu, whose administration has consistently stressed the need to strengthen social protection systems and improve the quality of life for senior citizens.
The Pencom boss noted that Pencare is designed as a Corporate Social Responsibility (CSR) collaboration between the Commission and licensed pension operators, with its official launch scheduled for late November by President Tinubu.
Olovoran said the newly constituted Board of Trustees chaired by Muhammad Ahmed, the pioneer Director-General of Pencom, will provide strategic oversight and policy direction to the initiative.
The responsibilities of the Board include setting the operational framework, accrediting health maintenance organizations (HMOs), ensuring transparency and accountability, and promoting cooperation in the pension and healthcare sectors.
He emphasized that this initiative reflects international best practices, integrating health care into the pension system to ensure that retirees can enjoy a healthy and dignified life after service.
Speaking to board members, he said, “As Trustees, you hold a sacred public trust to lead this initiative toward tangible impact. Together, we can redefine how a nation cares for its retirees, ensuring that the end of active service does not mark decline, but a season of dignity and well-being.”
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In his remarks, the Board Chairman appreciated the opportunity to serve and commended Pencom's leadership in promoting long-overdue reforms in the pension sector. He pledged that the Board will ensure effective administration and sustainable implementation of the scheme.
Ahmed said PainCare will provide insurance coverage for retirees, starting with the most vulnerable, before expanding its reach once the program stabilizes.
Pencom said the initiative underlines its commitment to a pension industry that is not only financially strong but also socially responsible and people-focused, investing not just in wealth but also in the future well-being of Nigerian workers.
