PenCom Launches Pension Revolution 2.0 for Retirees’ Welfare

The National Pension Commission (PenCom) has introduced a new initiative known as Revolution 2.0, aimed at enhancing retirees’ welfare and extending pension services to all Nigerians, including workers in the informal sector.

The scheme seeks to improve the dignity of retirees through health insurance and a minimum pension floor, while also optimising investment performance to deliver sustainable long-term returns without compromising contributors’ funds.

Regarded as the most significant reform since the contributory pension scheme was established in 2004, Revolution 2.0 is projected to promote financial inclusion, raise living standards for pensioners, and reinforce Nigeria’s economic stability.

The announcement comes on the heels of PenCom’s release of revised guidelines on board and senior management appointments, alongside updated corporate governance standards.

Written by Adeyemi Adewale