The National Pension Commission (PenCom) has announced that free health insurance for pensioners will officially begin later this year, marking a significant milestone in Nigeria’s social protection framework. The initiative will start with retirees in lower-income categories, as part of efforts to enhance their welfare and ensure dignity beyond financial pensions.
Disclosing this at a workshop on the Contributory Pension Scheme (CPS) in Abuja, the Director-General of PenCom, Omolola Oloworaran, represented by the Director of the Contribution and Bond Redemption Department, Usman Musa, said the initiative aligns with the commission’s broader “Pension Revolution 2.0” reforms.
Oloworaran explained that the CPS had transformed Nigeria’s pension system from one “defined by unpaid entitlements and uncertainty” to a more transparent, sustainable, and inclusive structure.
The D.G revealed that over 10 million Nigerians are now covered under the scheme, with pension assets exceeding N25 trillion, while 844,000 retirees across the public and private sectors currently receive regular benefits.
Highlighting recent reforms, she noted that “Pension Boost 1.0” increased monthly payments for 241,000 retirees from 12.16 billion naira to 14.84 billion naira, effective June 2025. PenCom has also introduced zero waiting time for pension payments since July 2025, ensuring retirees begin receiving their entitlements immediately after retirement.
The PenCom boss further revealed that the Federal Government has approved the issuance of 758 billion naira in bonds to clear longstanding pension arrears, including increments owed since 2007.
The free health insurance rollout, she said, will complement these efforts and reinforce PenCom’s mission to guarantee security, dignity, and stability for all Nigerian pensioners.
