THE DIRECTOR-GENERAL (D-G) of National Pension Commission (PenCom), Mrs Omolola Oloworaran, said that the new board would provide quality and affordable healthcare for retirees under the Contributory Pension Scheme (CPS).
Oloworaran said this while inaugurating the Board of Trustees of the Pension Industry Health Care Initiative (PenCare), in Abuja on Friday.
She said that the PenCare was a landmark step towards building a pension system that safeguards not only the financial security, but also the health and dignity of Nigerian workers on retirement.
“PenCare initiative symbolises a new chapter in the country’s journey towards inclusive, compassionate and globally competitive social security.”
The D-G said that the initiative would start with at least 20,000 retirees.
She that the initiative was in line with the directive of President Bola Tinubu to ensure that retirees under the CPS have access to quality and affordable healthcare services.
“The PenCare initiative reflects the President’s commitment to improving the quality of life for Nigerians, particularly senior citizens who have dedicated their productive years to national development.
“Today, we are not merely inaugurating a board, we are inaugurating hope. Through PenCare, we are building a structure that aligns with international best practices in social protection, mirroring the integrated healthcare and pension systems of advanced economies, yet designed to meet the realities of our nation,” Oloworaran said.
The D-G said that the board of trustees would provide strategic oversight and policy direction for the implementation of the initiative.
“Among the board’s responsibilities are the formulation of operational frameworks to guarantee retirees’ access to affordable and quality healthcare, accreditation and supervision of Health Maintenance Organisations (HMOs) and ensuring transparency and sustainability in managing PenCare’s funds.
“Promoting collaboration and advocacy across the pension and healthcare sectors to strengthen access, service delivery and the overall welfare of retirees,” Oloworaran said.
She said the nine members of the board were carefully selected for their integrity, competence and professional experience in the pension, health and financial sectors.
“As trustees, you hold a sacred public trust to steer this initiative towards tangible impact and ensure it becomes a model of effective partnership between public institutions and private operators,” the D-G said.
Oloworaran said that the initiative also presents opportunities for innovation and leadership in social protection.
She commended the committee, PenCom’s leadership team and industry partners for their dedication and collaboration in bringing the project to fruition.
“PenCare is our promise to retirees and contributors. It shows that the pension industry, under Tinubu’s leadership, cares not only about savings but also about the well-being of every Nigerian worker,” the D-G said.
The Chairman of the board, Mr Mohammad Ahmad, said that the initiative would help low income retirees to access quality and affordable healthcare.
“This is the time they need to check on their health because they are old and health is one of the most important things.
“Looking at the current economic situation, they can now save their money for something else as the HMO will take care of them,” he said.
The chairman said that his team would put in their best as they are all passionate about retirees and their well-being. (NAN)
