President Tinubu Launches Free Healthcare Program for Pensioners

President Bola Tinubu has introduced PenCare, a national healthcare program that will offer free medical services to pensioners, starting with those who have low incomes. Tinubu announced this initiative during the National Pension Week event in Abuja, where he was represented by Senator George Akume, the Secretary to the Government of the Federation.

The PenCare program is part of the government’s efforts to improve the well-being of senior citizens. It aims to ensure that pensioners, especially those with limited financial means, have access to essential healthcare services.

In his speech, themed “Pensions for All: Building a Secure Future Together,” Tinubu emphasized the importance of a strong pension system. He stated that pensions are not a favor from the government but a right earned by workers who have served the country. He assured that his administration is committed to honoring this promise.

Tinubu also mentioned that the success of the pension system should be measured by the security and dignity it provides to retirees. He highlighted that no Nigerian who has served the nation will be forgotten in retirement.

Additionally, the President announced the approval of a N758 billion Federal Government Pension Bond to settle outstanding pension rights and enhance the Pension Protection Fund. This move is seen as a way to restore dignity and value to the Contributory Pension Scheme.

In related news, Omolola Oloworaran, the Director-General of the National Pension Commission (PenCom), confirmed that the deadline for pension fund administrators to complete their recapitalization is set for June 30, 2027. This step is aimed at strengthening the institutions that manage retirement savings for Nigerian workers.

Oloworaran also revealed plans to expand the Contributory Pension Scheme to include workers in informal sectors, such as traders and farmers, and to implement a Minimum Pension Guarantee to protect vulnerable retirees.