The National Pension Commission (PenCom) has introduced a new programme, Pension Revolution 2.0, aimed at raising the pay of retirees, improving pensioners’ dignity, and extending pension services to millions of Nigerians, including those in the informal sector.
The Director-General of PenCom, Ms. Omolola Oloworaran, announced the initiative in a statement on Monday.
She explained that the programme would guarantee health insurance for retirees, establish a minimum pension floor, and strengthen investment performance while ensuring the safety of contributors’ funds.
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“Pension Revolution 2.0 is the most significant advancement since 2004, bold in ambition yet evolutionary in practice. It ushers in a new era of dignity for retirees, inclusion for every Nigerian worker, and resilience for our national economy,” Oloworaran said.
The announcement comes shortly after PenCom issued its Revised Guidelines on Appointment to Board and Senior Management positions, along with updated Corporate Governance rules, as part of efforts to entrench transparency and accountability in the pension industry.
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With the new scheme, PenCom says it hopes to not only enhance the welfare of existing pensioners but also bring millions of excluded Nigerians—especially artisans, traders, and other informal workers—into the contributory pension net.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.
