The National Pension Commission (PenCom) has unveiled a new programme, Pension Revolution 2.0, designed to enhance the welfare of retirees, improve pensioners’ pay, and extend pension services to all Nigerians, including those in the informal sector.
The initiative was announced in a statement on Monday by PenCom Director General, Ms. Omolola Oloworaran.
According to her, the programme is structured to guarantee dignity for retirees through health insurance and the establishment of a minimum pension floor. It will also prioritise optimising investment performance while safeguarding contributors’ funds to ensure sustainable long-term returns.
“Pension Revolution 2.0 is the most significant advancement since 2004, bold in ambition, yet evolutionary in practice. It ushers in a new era of dignity for retirees, inclusion for every Nigerian worker, and resilience for our national economy,” Oloworaran said.
The announcement follows PenCom’s recent release of the Revised Guidelines on Appointment to Board and Senior Management as well as the Revised Guidelines on Corporate Governance, aimed at strengthening oversight and transparency in pension administration.
With the new initiative, PenCom seeks to deepen pension penetration, reduce the vulnerability of retirees, and reinforce the resilience of Nigeria’s contributory pension scheme.