by NIyi JACOBS
The National Pension Commission (PenCom) on Monday unveiled Pension Revolution 2.0 – Stronger Pensions, Stronger Nigeria, a sweeping programme of reforms designed to strengthen Nigeria’s pension industry, enhance inclusion, and secure dignity for retirees.
The announcement was made by the Director General of PenCom, Ms. Omolola Oloworaran, via her official X handle. She described the initiative as the most ambitious transformation of the pension system since the Pension Reform Act of 2004, which introduced the Contributory Pension Scheme (CPS) and laid the foundation for sustainability and confidence in retirement savings.
“Two decades later, we stand at another defining moment. Pension Revolution 2.0 is 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.
Guided by the vision of President Bola Ahmed Tinubu, the reforms seek to ensure that Nigeria’s pension system provides dignity in retirement, broadens access to all categories of workers, and mobilises long-term savings as dependable capital for national development.
According to PenCom, the programme will introduce health insurance coverage for retirees within the next three months while activating the Minimum Pension Guarantee to safeguard decent living standards in retirement. It also sets higher standards in investment performance and risk management, ensuring contributors’ funds deliver sustainable long-term returns. The Commission further pledged to expand pension coverage to the informal economy, harness technology and innovation to democratise access and improve service delivery, and unlock pension assets as a reliable source of financing for national growth.
“This reform is more than regulatory change; it is a renewal of trust in the system and a bold national strategy to strengthen financial inclusion while safeguarding the dignity of retirees,” Oloworaran added.
As part of the rollout, PenCom will be issuing new regulations daily. Two revised guidelines—the Revised Guidelines on Appointment to Board and Senior Management and the Revised Guideline on Corporate Governance—have already been released on the Commission’s website.
