TINUBU UNVEILS FREE HEALTHCARE FOR PENSIONERS

President Bola Tinubu has unveiled PenCare, a national healthcare initiative designed to provide free medical services to pensioners, starting with low-income retirees.

The President, represented by Secretary to the Government of the Federation George Akume, announced the initiative at the opening of National Pension Week in Abuja on Thursday.

PenCare aims to improve access to essential healthcare for retirees, particularly those with limited financial resources.

Tinubu said pensioners deserved security and dignity after years of service, stressing that retirement benefits were earned entitlements.

“A pension is not a favour granted by Government. It is a wage earned, deferred and held in trust,” he said.

He added that the pension system’s success should be judged by how well it protects retirees, rather than simply by the amount of money it manages.

The President also said he had approved a ₦758 billion Federal Government Pension Bond to settle accrued pension rights and strengthen the Pension Protection Fund.

PenCom Maintains Recapitalisation Deadline

Speaking at the event, National Pension Commission Director-General Omolola Oloworaran reaffirmed that pension fund administrators and custodians must complete their recapitalisation by June 30, 2027.

She said stronger institutions were needed to safeguard workers’ savings as pension assets continued to grow.

Oloworaran also announced a target of at least three million new funded and active pension accounts within one year, with efforts to reach traders, artisans, farmers and commercial transport operators through the Personal Pension Plan.

She highlighted plans for a Minimum Pension Guarantee to support vulnerable retirees and called on private employers to improve the earnings base used to calculate pension contributions.

The supplied report did not specify PenCare’s enrolment process, the full range of services covered or when beneficiaries could begin accessing treatment.