PenCom Plans Retiree Health Pilot and Minimum Pension Guarantee
Amina Garba
The National Pension Commission says it plans a health-insurance pilot for low-income retirees and a proposed minimum pension guarantee under Nigeria’s contributory pension system.
PenCom Director-General Omolola Oloworaran said the health pilot would begin within three months and initially cover 30,000 retirees aged 60 and above who earn ₦150,000 or less each month, Vanguard reported.
She said the commission also plans a minimum pension guarantee intended to set a basic income floor for retirees under the contributory scheme. A third initiative would expand the Personal Pension Plan through accredited agents for workers in the informal sector.
Oloworaran said pension assets stood at ₦31.48 trillion as of 10 July after ₦10.7 trillion in new retirement savings entered the economy over two years.
Source: Vanguard
Written by
Amina Garba
Financial reporter covering CBN policy, oil and gas, government budgets, and macroeconomic trends. Business Writer at NaijaTrend.
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