The National Pension Commission (PenCom), has inaugurated the Board of Trustees (BoT) of the Pension Industry Health Care Initiative (PENCARE) to provide free healthcare coverage for pensioners under the Contributory Pension Scheme (CPS).

At the inauguration in Abuja, the Director General of PenCom, Ms Omolola Oloworaran described the PEBCARE initiative as “a new chapter in Nigeria’s journey towards inclusive, compassionate, and globally competitive social security.

The Director General noted that the initiative stemmed from President Bola Ahmed Tinubu’s directive to strengthen the nation’s social protection systems and improve the quality of life for senior citizens.

She emphasized that the PENCARE framework aligns with international best practices by integrating health care with pension systems, tailored to Nigeria’s unique realities.

 

 

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PenCom launches free healthcare initiative for pensioners

by Daniel Adejo/Folasade Orimolade5 hours ago

 

The National Pension Commission (PenCom), has inaugurated the Board of Trustees (BoT) of the Pension Industry Health Care Initiative (PENCARE) to provide free healthcare coverage for pensioners under the Contributory Pension Scheme (CPS).

 

At the inauguration on Thursday in Abuja, the Director General of PenCom, Ms Omolola Oloworaran described the PEBCARE initiative as “a new chapter in Nigeria’s journey towards inclusive, compassionate, and globally competitive social security.

 

The Director General noted that the initiative stemmed from President Bola Ahmed Tinubu’s directive to strengthen the nation’s social protection systems and improve the quality of life for senior citizens.

 

She emphasized that the PENCARE framework aligns with international best practices by integrating health care with pension systems, tailored to Nigeria’s unique realities.

 

“Today, we are not merely inaugurating a board — we are inaugurating hope,” Ms. Oloworaran declared. “PENCARE is a tangible demonstration that the pension industry cares not only about the savings of workers but also about their well-being after active service.”

 

Ms Oloworaran said the newly inaugurated Board of Trustees is charged with providing strategic oversight for the initiative, including policy formulation, operational framework development, accreditation and supervision of health care providers, and ensuring transparency and sustainability in fund management.

 

She explained that members of the board were selected based on integrity, competence, and professional experience across the pension, finance, and health sectors. The initiative is also expected to enhance collaboration between pension operators and health management organizations (HMOs) in delivering affordable and quality healthcare to retirees.

 

Ms Oloworaran reaffirmed PenCom’s commitment to building a financially sound, socially responsible, and people-oriented pension industry that invests “not only in assets but in people.”

 

“Workers built this nation,” she said. “Now, this initiative stands to safeguard their health and comfort in retirement. PENCARE is our promise to them.”

 

The Chairman of Board of Trustees (BoT) Pension Industry Health Care Initiative (PENCARE) Mr Ahmed Lawal gave assurance that the already existing initiative would safeguard the health and comfort of retirees under the scheme.

 

Editing by Adeniyi Bakare