ABUJA, Nigeria 

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‎For many years, retirement in Nigeria was a story of pain, endless verification queues and delayed pension payments. That story is changing.

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‎Under the leadership of the Director General of the National Pension Commission, Ms. Omolola Oloworaran, PenCom is carrying out far-reaching reforms that are making pensioners get their money without suffering and enjoy new benefits under the administration of President Bola Tinubu.

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‎The clearest message from the Senior Citizens Fair held on Wednesday, Oct. 28, 2026, as part of the National Pension Week 2026, is that PenCom is putting retirees first.

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‎Oloworaran, who addressed senior citizens at the fair, said PenCom is committed to a pension system that gives dignity, financial security and healthcare to those who served the country.

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‎From delayed payments to prompt alerts

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‎One of the biggest reforms under Oloworaran is the push for efficiency and prompt payment. Pensioners across the country now report faster processing of benefits, seamless service from Pension Fund Administrators, and stronger regulatory oversight that protects their savings.

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‎PenCom has tightened supervision of the industry to ensure pension funds are safe and benefits are paid as and when due. The Commission has also improved operational efficiency to make pension administration more responsive.

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‎The result is growing confidence in the Contributory Pension Scheme, where workers no longer fear retirement as a period of neglect.

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‎N758 billion liabilities settled

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‎A major breakthrough highlighted at the fair is the settlement of inherited pension liabilities amounting to N758 billion by President Bola Tinubu.

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‎The payment, facilitated by PenCom under Oloworaran’s leadership, has cleared longstanding arrears that weighed on the system and affected retirees’ welfare.

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‎The Commissioner of Finance, Dr. Charles Efe Sylvester Emukowhate, who represented the PenCom leadership at the event, commended the President for the intervention and credited Oloworaran for driving the process.

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‎According to him, the settlement has restored trust and allowed retirees to plan their lives with certainty.

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‎Healthcare now part of pension welfare

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‎Oloworaran is also expanding the definition of pension welfare beyond monthly alerts.

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‎She disclosed that PenCom is finalising a healthcare initiative for retirees that will make access to medical care a core part of retirement benefits. A pilot phase is already underway and the full launch, named PenCare, is scheduled for November 2026.

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‎The initiative was highlighted at the Senior Citizens Fair with free health checks and registration for health insurance for retirees.

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‎The DG explained that healthcare costs remain the biggest burden for old people. The PenCare programme is designed to provide free health insurance for low-income and vulnerable pensioners, so they can use their pension for other essential needs instead of hospital bills.

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‎Tackling inequality and protecting savings

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‎Another reform under Oloworaran is addressing disparities in pension payments, where retirees with similar service years earned significantly different benefits. PenCom has described the anomaly as unacceptable and is working on a framework to ensure fairness.

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‎The DG also warned pensioners against fraudsters who promise to double their pensions. She urged retirees to always verify claims through PenCom and their PFAs and not share sensitive financial information.

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‎Her message is clear: pension savings represent years of hard work and must be protected.

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‎Retirement with purpose

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‎Beyond payments and healthcare, Oloworaran is promoting a new culture of healthy ageing and purposeful retirement. The theme of this year’s Pension Week, “Pension for All: Building a Secure Future Together,” reflects that vision.

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‎At the fair, retirees were encouraged to stay active, mentor young people, and contribute to community development. PenCom created platforms for experience-sharing, wellness activities, and intergenerational dialogue.

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‎Oloworaran said retirement should not be seen as the end of productive life, but as a new phase that deserves financial and social support. She maintains an open-door policy and has called on senior citizens to give feedback on what is working and what needs improvement.

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‎For many pensioners who attended the fair, the message was reassuring. Under Oloworaran, PenCom is no longer just a regulator that keeps files. It is becoming a service institution that listens, responds, and protects.

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‎With the N758 billion liabilities cleared, PenCare on the way, prompt payments improving, and fraud prevention measures strengthened, pensioners are beginning to feel what the Tinubu administration promised – Renewed Hope even in retirement.