PenCom Pilots Free Health Insurance For Retirees

The National Pension Commission (PenCom), the pension manufacture regulator, volition aviator wellness security sum for retirees wrong the adjacent 3 months and activate the Minimum Pension Guarantee to safeguard retirees’ dignity and enactment a decent modular of living.

The manager wide of PenCom, Ms Omolola Oloworaran, stated this via her X (Twitter) grip @Omololabo. She besides disclosed that the regulator would unveil a bid of guidelines to revolutionise the pension assemblage arsenic portion of its ‘Pension Revolution 2.0—Stronger Pensions, Stronger Nigeria’ project.

The guidelines expected to beryllium unveiled, she said, would absorption connected concern and hazard management, governance and compliance, work delivery, and fiscal inclusion. The project, which she said was successful enactment with President Bola Tinubu’s economical directive, is simply a transformative programme of reforms that builds connected 2 decades of advancement to usher Nigeria’s pension manufacture into its adjacent signifier of maturation and resilience.

To her, “this programme is guided by the imaginativeness of His Excellency, President Bola Ahmed Tinubu, who has directed that our pension strategy indispensable alteration dignity successful retirement, broaden entree for each Nigerians, and mobilise semipermanent savings arsenic reliable superior for nationalist development.”

The PenCom DG stated that the archetypal large turning constituent came successful 2004 with the enactment of the Pension Reform Act (PRA), which introduced the Contributory Pension Scheme (CPS) and revolutionised status savings successful Nigeria, arsenic that betterment laid the instauration for confidence, discipline, and sustainability successful the pension system.

“Two decades later, we basal astatine different defining moment. Pension Revolution 2.0 is the astir important advancement since 2004, bold successful ambition, yet evolutionary successful practice. It ushers successful a caller epoch of dignity for retirees, inclusion for each Nigerian worker, and resilience for our nationalist economy,” she pointed out.

Beginning this week, she said, her committee volition merchandise the caller regulations daily, arsenic each line sets higher standards crossed captious pillars. Collectively, these reforms correspond a bold measurement forward.

While the regulations alteration dignity for retirees done wellness security and a minimum pension floor, she said: “it volition optimise concern show portion safeguarding contributors’ funds to present sustainable semipermanent returns; expands pensions to scope each Nigerian, especially, those successful the informal economy; harnesses exertion and innovation to democratise entree and amended work transportation arsenic good arsenic unlocks pension assets arsenic a dependable root of financing for nationalist development.”

Sequel to this development, PenCom, connected Monday, issued the Revised Guidelines connected Appointment to Board and Senior Management arsenic good arsenic the Revised Guideline connected Corporate Governance.