PenCom’s free health care scheme to begin with 20,000 retirees

The pilot phase of the free health care initiative introduced by the National Pension Commission (PenCom) in partnership with Pension Fund Administrators (PFAs) will commence with 20,000 retirees. The director-general of PenCom, Mrs Omolola Oloworaran, disclosed this on Friday in Abuja during the inauguration of the Board of Trustees of the Pension Industry Health Care […]

The pilot phase of the free health care initiative introduced by the National Pension Commission (PenCom) in partnership with Pension Fund Administrators (PFAs) will commence with 20,000 retirees.

The director-general of PenCom, Mrs Omolola Oloworaran, disclosed this on Friday in Abuja during the inauguration of the Board of Trustees of the Pension Industry Health Care Initiative, known as PenCare.

“Today, 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,” Oloworaran said.

According to her, the scheme, co-funded by PenCom and the PFAs, will be officially launched at the end of November by President Bola Ahmed Tinubu. She said the pilot phase would start with 20,000 retirees, with plans to scale up to accommodate more beneficiaries.

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The PenCom director-general described the PenCare Initiative as a “visionary partnership” between the commission and licensed pension operators following the president’s directive to establish a framework ensuring that retirees under the contributory pension scheme have access to affordable and quality health care.

“Through PenCare, we are building a structure that aligns with international best practices in social protection, mirroring the integrated health care and pension systems of advanced economies, yet tailored to Nigeria’s realities,” she said.

Oloworaran noted that the newly inaugurated board would provide strategic oversight and policy direction for PenCare, including accrediting and supervising Health Maintenance Organisations (HMOs) and other health care providers in line with national standards.

In his remarks, the chairman of the Board of Trustees and pioneer director-general of PenCom, Mr Muhammad K. Ahmad, commended the initiative and pledged the board’s commitment to advancing health care access for retirees.

He said the scheme would help reduce the burden of out-of-pocket health spending among pensioners across the country.