PenCom Launches ‘PenCare’ Health Initiative for Pensioners, Appoints Muhammed Ahmad as Board Chairman

The National Pension Commission (PenCom) has inaugurated the Board of Trustees for PenCare, a new healthcare initiative designed to provide retirees under the Contributory Pension Scheme (CPS) with access to quality medical care.

The pioneer Director-General of PenCom, Muhammed Ahmad, was named Chairman of the newly formed board. The inauguration ceremony was conducted in Abuja by the current Director-General of PenCom, Ms. Omolola Oloworaran.

PenCom described PenCare as a strategic step towards safeguarding the well-being of Nigerian retirees, in line with President Bola Tinubu’s policy direction on improving social welfare.

“Driven by the policy direction of President Tinubu, GCFR, PenCare reinforces Nigeria’s commitment to protecting both the financial security and well-being of retirees,” the Commission stated.

As board chairman, Ahmad will be responsible for steering the initiative’s strategic direction, ensuring good governance, accountability, and efficient service delivery to pensioners. The board will also accredit healthcare partners and oversee the effective implementation of the programme nationwide.

PenCom emphasised that PenCare marks a major milestone in the evolution of Nigeria’s pension system, extending its focus beyond financial security to include retirees’ health and dignity.
“PenCom remains committed to a pension system that invests not only in funds but in people — safeguarding dignity, care, and comfort in retirement,” the Commission said.

The Commission added that with Ahmad’s leadership, PenCare is expected to set a new benchmark for retiree welfare and healthcare delivery across the pension industry.

Meanwhile, PenCom has deepened its collaboration with the Nigeria Labour Congress (NLC) to further strengthen the country’s pension system. During a strategic roundtable in Abuja, both organisations discussed ongoing reforms under the Pension Revolution 2.0 initiative.

According to PenCom, the engagement focused on expanding pension coverage through the Personal Pension Plan, improving compliance among employers and state governments, enhancing benefit processing timelines, and ensuring higher investment safety and returns.

Other key issues included proposed amendments to the Pension Reform Act and maintaining strong partnerships with organised labour to protect workers’ interests.

“PenCom and Labour remain united in advancing a pension system that works for all Nigerian workers,” the Commission affirmed.