*To launch PenCare
By Charles Okonji
In a dramatic jubilation across the country, Pensioners in a loud voice celebrate for the first time in history, the receipt of backlog of arrears owed them, which many described as renewed hope.
Some of the Retirees who commended the Director General of PenCom and President Bola Ahmed Tinubu led administration for this huge relief, noted that they were shocked and surprised that such positive transformation could happen in their lifetime.
The Director General of the National Pension Commission (PenCom), Omolara Oloworaran who disclosed this on Thursday in Lagos noted that the Commission approved and disbursed 758 billion naira to retirees between February and December 2025.
Oloworaran stated that her one year Scorecard has showered that the commission was able to implement and achieved the reforms yearned for in the past 20 years though the cooperation of her team resilience.
Commending President Bola Tinubu for his concern and love for those that have served the country in various capacities, which led to the approval of N758 billion for pensioners, She said this unprecedented intervention sent a clear and powerful signal that Nigeria honors its promises to its workers and retirees.
Oloworaran maintained that the commission has cleared long-standing pension increase backlogs for federal government treasury-funded retirees, with some dating as far back as 2007, who had loss hope as many believed would never have been paid.
In her own words; “We have started implementation of zero waiting time for payment of approved rights, effective July 2025. This simply means that as soon as you retire, you get paid immediately once you met all documentation requirements. The days of the delays in benefits processing and payment to our retirees is over.
“The impact of Pension Fund Administrators has been immediate and unmistakable. From January to November 2025, total pension recoveries reached 4.04 billion, compared to 1.44 billion not just for corresponding period of 2024, but for the whole of year 2024; which represents an astronomical increase of 180 percent.
“Most striking, I would say, is that in the Q3 alone of this year, 2025, we recovered N2.06 billion, and that is almost 150 percent of total recoveries recorded in the entire year of 2024. We’re also seeing a similar shift in compliance behavior in the obtaining of pension claim and certificates. The value for pension claim and certificates issued average value on a quarterly basis was about 150 billion higher.
“The Q2 of 2025 already recorded a value of 233 billion, far exceeding the average of preceding quarters. This clearly demonstrates that when compliance is tied to real economic consequences, behaviors change.”
The PenCom DG emphasized that the review of its reforms are built on data, dialogue, and discipline, explaining that the reforms were not introduced in isolation.
“For the next phase, the commission would continue to expand coverage, deepen trust, improve investment outcome, strengthen supervision, and protect retirees and active contributors.
“Retirement security is not a privilege, it is a right, and PenCom will defend it firmly and fairly. PenCare would be launched in March 2026, with enrolment of 30,000 retirees across the six geopolitical zones of the country,” Oloworaran averred.
In his presentation, Ahmed Lawan, Head, Compliance and Enforcement Department, PenCom, pointed out that the PenCare initiative is an industry-driven Corporate Social Responsibility, CSR programme, jointly funded by PenCom and Licensed Pension Fund Operators, LPFOs.
Ahmed noted that the initiative was designed to cater for retirees only, not from contributors RSAs or pension fund assets, adding that it will provide affordable, and comprehensive healthcare access to CPS retirees as it would equally strengthen the industry’s social impact profile.
