PenCom extends PenCare access to retirees earning N150,000

The National Pension Commission (PenCom) has expanded eligibility for its PenCare Initiative pilot to include retirees receiving monthly pensions of up to N150,000, to increase participation and improve healthcare access.

PenCom director-general, Omolola Oloworaran, said this on Tuesday in Abuja after the third meeting of the pension industry leadership council (PILC).

Ms Oloworaran said the commission raised the income threshold to attract more participants and generate sufficient data required to evaluate the effectiveness of the pilot programme.

According to her, PenCom targets 30,000 beneficiaries under the initiative but has so far enrolled only about 13,000 retirees, making broader participation necessary.

“We need a critical mass to properly test the system. Running a pilot with just 10,000 people will not give us the results we want,” she said.

She said retirees earning monthly pensions of N150,000 or below could now enrol and access free health insurance under the PenCare pilot scheme.

Ms Oloworaran described the new threshold as a temporary measure to boost participation, adding that the commission would review it after the pilot programme was assessed.

“That we have extended it to N150,000 does not mean it will remain there. It is to help us test the system effectively,” she said.

She urged journalists to support awareness efforts, noting that many low-income retirees were still unaware of the programme and its healthcare benefits.

Ms Oloworaran said PenCom planned to introduce three healthcare packages after the pilot to provide sustainable medical support for retirees across income categories.

She said the first package would provide free healthcare services for low-income retirees, while the second would offer a co-payment arrangement for retirees needing additional support.

“The third package will allow higher-income retirees to pay for enhanced healthcare coverage at competitive premium rates,” she said.

Ms Oloworaran said improving retirees’ welfare remained one of PenCom’s top priorities as the commission continued to explore initiatives to enhance pensioners’ well-being and financial security.

“We continue to explore initiatives that will improve retirees’ wellbeing and ensure Nigerians retire with peace of mind,” she said.

(NAN)