The Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, has reaffirmed the Commission’s commitment to strengthening collaboration with the Trade Union Congress of Nigeria (TUC) to advance pension reforms and ensure greater compliance with the Contributory Pension Scheme (CPS).
Ms. Oloworaran made the remarks during a courtesy visit to the TUC President, Comrade (Engr.) Festus Osifo, in Abuja on 24 September 2025. She was accompanied by the Acting Commissioner, Technical, Hon. Hafiz Kawu Ibrahim, and other top management staff of the Commission.
Acknowledging the TUC’s pivotal role as a member of PenCom’s Governing Board, the DG stressed that structured stakeholder engagement is key to the sustainability of the CPS. She urged the union to support enforcement of employer compliance, highlighting that timely remittance of pension contributions is essential to securing workers’ financial stability in retirement.
Ms. Oloworaran also discussed ongoing reforms to protect pension assets from inflation, the upcoming revised Investment Regulation to expand alternative investment opportunities, and plans to allow naira-denominated pension investments to generate dollar returns. Additionally, she revealed that a N758 billion bond approved by President Tinubu will fund a Pension Protection Fund to guarantee a minimum pension for retirees.
Comrade Osifo praised PenCom’s professionalism and pledged TUC’s continued support in promoting compliance. He also called for a review of the Pension Reform Act (PRA) 2014 to allow greater flexibility in pension investments to safeguard retirement savings.
The meeting concluded with both organisations committing to closer collaboration to deepen the CPS and secure the future of Nigerian workers.
