PenCom Launches “Pension Revolution 2.0” to Boost Retirees’ Benefits and Extend Coverage to Informal Sector
Story: written by Daniel September 23,2025
The National Pension Commission (PenCom) has unveiled a new initiative tagged Pension Revolution 2.0, designed to improve the welfare of retirees and expand pension coverage to every category of Nigerian workers, including those in the informal sector.
In a statement released on Monday, PenCom’s Director General, Ms. Omolola Oloworaran, said the programme aims to restore dignity to pensioners through measures such as a minimum pension guarantee and access to health insurance. She added that the scheme will also strengthen investment strategies to secure contributors’ savings while ensuring long-term sustainable returns.
Describing the reform as a landmark step, Oloworaran noted:
“Pension Revolution 2.0 represents the most significant transformation since the 2004 reform. It is bold yet practical, ushering in a new era of dignity for retirees, inclusion for all Nigerian workers, and resilience for the national economy.”
The announcement follows PenCom’s recent release of the Revised Guidelines on Appointment to Board and Senior Management and the Revised Guidelines on Corporate Governance, both aimed at strengthening transparency and accountability in pension administration.
With Pension Revolution 2.0, PenCom seeks to create a more inclusive, secure, and efficient retirement system that supports retirees while expanding pension access beyond the formal workforce.
