PenCom Partners Anti-graft Agencies To Sanction Pension Defaulters

National Pension Commission (PenCom) has partnered with anti-graft agencies, the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) in a move to sanction pension defaulters in the country.

The director-general of PenCom, Omolola Oloworaran, who made this known recently in Lagos, cited the plights many employers are subjecting their pensioners to as reason for the planned team up.

According to her, the commission would continue to expand coverage, deepen trust, improve investment outcome, strengthen supervision, and protect retirees and active contributors for the next phase.

She also disclosed PenCom’s long term vision for the future of its medical fields, with a new policy known as PenCare that would be launched March next year, enrolling 30,000 retirees across Nigeria.

Further more, she said, part of her aim to make pension more attractive to all workers, is the introduction of free healthcare services known as Pension Industry Healthcare Initiative (PenCARE), for pensioners.

The pilot stage of the initiative, she said, is scheduled to take off in the first quarter of 2026, even as it is expected to be co-funded by the

PenCom and Pension Fund Administrators (PFAs) in the country.

The beneficiaries, she noted, are existing pensioners under the Contributory Pension Scheme (CPS) who are currently drawing  monthly pension benefits.

The PenCom helmswoman said the scheme is aimed at ensuring pensioners live a good life in retirement, remain fit and healthy, and enjoy longevity.

The main focus is to make retirement bed of roses for pensioners by helping them to prune every negativism that might rise at that stage.

Oloworaran pointed out that, every initiative embarked upon by her administration is geared towards, adding value to Retirement Savings Account (RSA) holders and retirees, one of which is the free health insurance scheme.