ABUJA, Nigeria 

‎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:

‎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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Rekiya Idris, who retired from the Federal Ministry of Health as Head of Maternal, Newborn and Child Care, expressed satisfaction with PenCom’s new initiatives, saying she wished she had been exposed to the information and opportunities available today while still in service, as this would have better prepared her for retirement.

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‎Idris said it took about a year before she began receiving her pension benefits, noting that the process had become easier for subsequent retirees, who could now access their benefits much sooner after leaving office. She commended President Bola Tinubu and the PenCom Director-General, Ms. Omolola Oloworaran, for changing the narrative and reducing the financial difficulties retirees often faced while waiting for their entitlements.

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‎Similarly, a newly retired worker, Olawole Wushabi, said pension administration had improved considerably, recalling that retirees previously waited up to two years to receive their benefits. He said the process had become faster, with retirees now able to access their benefits within one to two months in some cases.

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‎“Things have improved drastically, and there is a lot of improvement in how pensioners are being treated now,” Wushabi said.

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‎He also commended PenCom for introducing the PenCare initiative, which is designed to make healthcare more accessible and affordable for retirees. However, he noted that challenges remained, particularly the inadequacy of pension benefits relative to the years of service many retirees had given to the government.

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‎Wushabi called on the government to further improve retirees’ welfare in response to prevailing economic conditions, which have increased the cost of meeting basic needs. While acknowledging that the system was not yet perfect, he expressed confidence that continued reforms would lead to further improvements.

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‎Another retiree, Dr. Mej Bassey, said pensioners appreciated the changes introduced under President Tinubu’s administration but argued that people who had served the country for more than 30 years deserved more comprehensive retirement support beyond gratuities and monthly pension payments.

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‎He stressed the need for broader welfare measures, particularly for career civil servants who had served with integrity and credibility. Bassey also suggested that Ministries, Departments and Agencies could collaborate with PenCom to create opportunities for qualified retirees to continue contributing their experience and expertise.

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‎He cited the Independent National Electoral Commission (INEC) as an example, suggesting that retirees with proven records of integrity could be engaged as ad hoc personnel during elections. He further proposed that experienced retirees could serve as mentors and consultants, helping to transfer institutional knowledge and strengthen public service delivery.

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‎According to Bassey, retirees possess valuable skills and experience that could be harnessed to support national development, adding that a more inclusive approach would enable the country to benefit from their contributions even after formal retirement.

‎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.