The National Pension Commission (PenCom) has announced that its Personal Pension Plan now accommodates students and infants, in a move aimed at promoting early retirement savings among Nigerians.
Director-General, Mrs. Omolola Oloworaran, made this known on Tuesday in Lagos after the second meeting of the Pension Industry Leadership Council.
She explained that the initiative is part of broader efforts to deepen retirement savings culture and enhance financial security across different segments of the population.
According to her, participation in the scheme is voluntary, and parents are encouraged to enrol their children early to build long-term financial stability.
Oloworaran stated that previous age restrictions have been removed, allowing individuals to begin contributing from infancy.
She added that the commission is introducing measures to make the plan more accessible and appealing to a larger number of Nigerians.
Speaking on the PenCare initiative, the PenCom boss disclosed that the first batch of premium payments for low-income retirees would be released before the end of the week.
She noted that the disbursement would be carried out in phases ahead of the programme’s formal rollout.
Oloworaran further explained that the initiative is designed to provide vulnerable retirees with access to free healthcare services, with medical costs covered by the commission.